PSX weekly review on day to day basis covering the performance of the Pakistan Stock Exchange and benchmark KSE 100 index for the Week from 10th to 14th April 2023
Due to the prolonged delay in the finalization of the ninth review of IMF program and the hike in the interest rate by the State Bank of Pakistan up to 21%, the overall performance of the Pakistan Stock Exchange is declining with a lack of interest from the investors. The PSX weekly review from the 10th to 14th of April 2023 on day to day basis is as under:-
10th April 2023
The stock market opened on Monday 10th April with a positive vibe but soon lost the flow due to limited trade volumes. The KSE 100 index closed at 39,836 points after losing 214 points from the previous day. A total of 106 million shares were traded during the day having a value of PKR 1.83 billion. The top contributors in terms of volume were KEL with 5.62 million shares (closed at PKR 2.01), FCCL with 2.87 million shares (closed at PKR 11.52), and BAFL with 2.79 million shares (closed at PKR 28.4)
11th April 2023
Since the previous day, the market has been showing a downward trend due to the investors’ lack of interest, which continued during the day. The KSE 100 index closed at 39,805 points after losing 31.19 points from the previous day. A total of 59.56 million shares were traded during the day with a value of PKR 1.37 billion. The highest traded volume was attributed to KEL with 9.27 million shares (closed at PKR 2), MLCF with 3.1 million shares (closed at PKR 26.5), and ILP with 2.61 million shares (closed at PKR 47.96).
12th April 2023
After a slow performance for two consecutive days, the market showed improvement on the 12th of April 2023 and KSE 100 index closed at 40,126 points after gaining 321 points over the previous day. The volume also improved and touched 79.79 million shares during the day with a value of PKR 2.57 billion. KEL was again the top contributor in trade volume with 8.38 million shares and closing at PKR 2 with no change. PPL had a trade of 3.77 million shares and closed at PKR 66.98 gaining PKR 2.13 over the previous day’s price. CNERGY had a trading volume of 3.69 million shares and closed at PKR 3.4.
13th April 2023
KSE 100 index showed improvement during the second consecutive day and closed at 40,205.54 points with a gain of 79.49 points on Thursday the 13th of April 2023. A total of 89.02 million shares with a value of PKR 2.76 billion were traded during the day. KEL again remained the most traded share with a volume of 4.22 million shares closing at PKR 1.98 with a decline of PKR 0.02. PPL had a traded volume of 3.96 million shares closing at PKR 67.22 with a rise of PKR 0.24. OGDC has also improved in trading with a volume of 3.92 million shares closing at PKR 85.82 with a rise of PKR 0.57.
Pakistan Stock Exchange has announced a holiday on Friday, 14th April 2023 vide notification dated 10th of April 2023 on account of Juma-tul-Wida (the last Friday of the holy month of Ramadan), hence officially the week has closed on Thursday the 13th of April 2023.
For PSX weekly review for 3rd to 7th April 2023, click the following link:-
Pakistan Stock Exchange, Weekly Review 3 to 7 April 2023
For weekly review of Pakistan Stock exchange for the period from 17th to 20th April, click on the following link:-
Pakistan Stock Market 17-20 April 2023
Disclaimer
The post is purely for educational and information purposes. In trading decisions expert’s opinion should be sought