The Pakistan Stock Exchange (PSX) on Tuesday witnessed mixed trading, with the banking and fertiliser stocks contributing positively to the market, while some key energy and cement stocks saw selling pressure. Investors were cautious all day, with both the major indices ending in opposite directions.
The index of the KSE-100 tumbled by 205.83 points, or 0.12 percent to close at 176,133.57 points at the end of trading. The index saw a high of 178,370.46 points and a low of 176,062.70 points during the trading session. There were 448.77 million shares in all trading of the shares of companies in the index.
United Bank (UBL), Engro, Lucky Cement, Meezan Bank and MCB Bank were prominent players in boosting the market. On the other hand, OGDCL, Fauji Fertiliser Company, Maple Leaf Cement, Synergy and DG Khan Cement were among the stocks that negatively impacted the index.
Meanwhile, the KMI-30 index settled at 247,838.42 points, gaining 22.07 points or just one-tenth of a percent in the day. The index’s highest level during the session was 251,801.80 points, while the lowest level was 247,707.33 points. A total of 145.61 million shares of the companies on this index were traded.
KMI-30 made a strong performance on the positive side, led by Engro, Lucky Cement, Meezan Bank, Fauji Cement and Pak Electron Limited, while OGDCL, Maple Leaf Cement, DG Khan Cement, Attock Refinery and Fauji Fertiliser Company kept pressure on the index.
Analysts believe that investors are presently carefully watching the financial statements of companies, economic indicators and government economic policies. The banking sector shows buyers’ confidence, but the general market mood was cautious because of the pressure in the energy and cement industries.
Overall, Tuesday’s trading session suggests that investors are inclined towards investing in specific sectors, with corporate results and economic updates in the subsequent days likely to have a significant impact on market movements.
