The Pakistan Stock Exchange ended the business on a positive note on Wednesday. The benchmark KSE-100 Index rose 779.34 points to close at 165,930.98 points, which supported the market after the decline in the previous session. This increase in the index was equal to 0.47%.
According to Pakistan Stock Exchange data, the index reached a high of 166,242.43 points during the trading session, while the low of the day was recorded at 164,731.90 points. This fluctuation shows that there was selling pressure along with buying in the market.
A total of about 379.9 million shares were traded in the stock market, worth Rs 21.28 billion. The number of shares remained lower compared to the previous session, but the value of the trade was recorded to increase.
The total value of the market also increased to about Rs 18,384.89 billion, which was Rs 18,308.67 billion on the previous trading day. Thus, the market capitalisation increased by about Rs 76.22 billion during one session.
According to the available market data, shares of 497 companies were traded in the ready market. Of these, 225 companies increased in share prices, 230 decreased, while 42 companies remained unchanged. These statistics show that despite the increase in the benchmark index, not all shares have the same positive trend.
The future direction of the market will depend on investor confidence, economic conditions and performance of companies, among other factors. A review of the trend of further trading sessions is necessary to consider a one-day increase as a definitive sign of sustained bullishness.
