Pakistan Stock Exchange, Weekly Review 3 to 7 April 2023

Pakistan Stock Exchange, Weekly Review  from 3rd to 7th April 2023

3 April

The market remained dull at the start of the new quarter. KSE 100 index of the Pakistan Stock Exchange closed at 39890 points after losing 111 points as compared to the previous day. Total 74 million shares were traded during the day with a value of PKR 1.75 billion. The top trading companies in terms of share volume were PAEL (3.57 million shares, closed at PKR 10.83), BOP (3.49 million shares, closed at PKR 3.97), and PIBTL (3.45 million shares, closed at PKR 3.95).

4th April

The market stood low while opening on a negative note. The KSE 100 index closed at 39,687.26 points after losing 202.64 points from the previous day’s closing. The traded volume for the day was 83.23 million shares with a value of PKR 2.19 billion. The leading companies in terms of volume traded for the day were PPL (6.7 million shares, closed at PKR 63.02), BOP (3.59 million shares, closed at PKR 3.88), and OGDC (2.77 million shares, closed at PKR 82.41).

5th April

The market showed a little improvement amid the decision of the Supreme Court regarding elections in the Punjab province. The KSE 100 index closed at 39,717.15 points, gaining 29.89 points over the previous day’s closing. The traded volume for the day stood at 86.67 million shares with a value of PKR 2.44 billion. OGDC was the highest-traded company for the day with a volume of 4.57 million shares. The stock closed at a value of PKR 81.68 with a fall of PKR 0.73 from the previous day’s price. The traded volume for PPL was 3.05 million shares and closed at PKR 63.16 gaining PKR 0.14 over the previous day’s price. HMB was at the next level with a traded volume of 2.73 million shares and closing at PKR 28.22 losing PKR 0.79 of the prior day’s price.

6th April

Consequent to the uplift in the political wave in the country, the stock market showed a rapid increase on the 6th of April (Thursday). The KSE 100 index improved by 633.74 points and closed at 40,350.89 points. A total of 171.33 million shares with a value of PKR 5.13 billion were traded on the day. Major contributors in the volume remained PPL with 13.57 million shares (closed at PKR 67.88), OGDC with 10.59 million shares (closed at PKR 87.34 with a gain of PKR 5.66 i.e 6.93% over the previous day), and UNITY with 8.12 shares (closed at PKR 13.24)

7th April

Since the previous day the market was showing a positive note amid the announcement of the election date in the Punjab province by the Election Commission of Pakistan after the decision of the Supreme Court of Pakistan. The positive vibe continued on the opening on 7th April gaining 195 points initially, however, after the. breaking of news regarding the cancellation of the meeting of the Finance Minister with the World Bank the adverse reaction of the market started.

At the day’s end, the KSE 100 index closed at 40049.65 points losing 301.24 points to the previous day. The traded volume during the day stood at 135.07 million shares with a value of PKR 3.2 billion. The top trader in terms of the number of shares was PPL with 5.59 million shares traded during the day. PPL closed at PKR 66.07 losing PKR 1.81 DoD. OGDC was on the next number with a traded volume of 4.32 million shares and closing at PKR 84.69 shares after losing PKR 2.65 DoD. DGKC having a traded volume of 4.32 million shares closed at PKR 44.58 after gaining PKR 0.41 DoD.

For weekly review of the economy of Pakistan, click on the following link:-

Weekly review of Pakistan’s Economy, 3rd to 7th April 2023

Disclaimer

This post is for educational purposes. For any business/investment decision, proper professional advice should be sought.