Due to public holidays on account of Eid ul Azha w.e.f 28th of June 2023, there were only two working days in the week i.e. 26th and 27th of June. The stock exchange performed at a higher note gaining 1388 points. The rise is attributed to the approved revised federal budget for the fiscal year 2023-24, in which certain amendments have been made that are pro-IMF program and are expected to get a favorable result regarding the IMF bailout package.
The Pakistan Stock Exchange performance for KSE 100 index for 26th and 27th June 2023 is given in the table below:-
| KSE 100 Index 26th to 27th June 2023 | |||
| Date | Points | Volume (Millions) | Value PKR (Billions) |
| 26th June | 41,437.10 | 122.32 | 6.03 |
| 27th June | 41,452.69 | 138.02 | 6.4 |
26th June 2023
After a span of diminishing activity, the market took an upward boost on the 26th of June and the KSE 100 index gained 1,371.78 points DoD closing at 41,437.10 points. A total of 122.32 million shares worth PKR 6.03 billion were traded among the KSE 100 companies. The total market volume (KSE All) remained at 221.39 million shares having a value of PKR 6.96 billion.
The KSE All Index and KSE 30 index also improved with volume of 221.39 and 78.45 million shares respectively.
| PSX Indexes as of 26th June 2023 | |||
| Date | Points | Volume (Millions) | Value PKR (Billions) |
| KSE 100 | 41,437.10 | 122.32 | 6.03 |
| KSE All | 27,965.97 | 221.39 | 6.96 |
| KSE 30 | 14,657.51 | 78.45 | 4.79 |
Top Trading Companies, KSE All Index, 26th June 23
Among the most active companies in terms of volume, WTL was on top with 26.22 million shares traded during the day. The closing price of WTL was PKR 1.12 per share gaining PKR 0.04 (3.7%) DoD.
The trading volume for FFBL was 13.15 million shares. Closing at PKR 11.61 per share, the stock gained PKR 0.46 (4.13%) over the previous day.
SNGP scored 12.5 million shares. The stock closed at a price of PKR 40.54 losing PKR 2.09 (-4.9%) DoD.
The meeting of the BOD of the company was held on the 26th of June 2023 in which a cash dividend of PKR 1.5 (15%) per share was announced. The shareholders whose names appear in the Member’s Register on 25th July 2023 will be entitled to this dividend.
| Top Trading Companies (KSE All) on 26th June 23 | |||
| Company | Volume (millions) | Closing Price (PKR) | Gain/(Loss) PKR |
| WTL | 26.22 | 1.12 | 0.04 (3.7%) |
| FFBL | 13.15 | 11.61 | 0.46 (4.13%) |
| SNGP | 12.5 | 40.54 | -2.09 (-4.9%) |
27th June 2023
The Pakistan Stock Exchange kept the positive vibe on 27th June 2023 as the KSE 100 index improved by 15.58 points DoD closing at 41,452.69 points. The total trade volume of the market also enhanced to 233.92 million shares worth PKR 7.47 billion from 221.39 million shares traded on the previous day.
The KSE All index also improved and closed at 28,111.03 points gaining 145.06 points DoD.
The KSE 30 index lost 20.78 points DoD and closed at 14,636.72 points.
| PSX Indexes as of 27th June 2023 | |||
| Date | Points | Volume (Millions) | Value PKR (Billions) |
| KSE 100 | 41,452.69 | 138.02 | 6.4 |
| KSE All | 28,111.03 | 233.92 | 7.47 |
| KSE 30 | 14,636.72 | 82.39 | 5.01 |
Top Trading Companies, KSE All Index, 27th June 23
BIPL scored the highest volume of 17.43 million shares during the day. Closing at PKR 17.76 per share, the share price gained PKR 1.24 (7.51%) DoD.
The trade volume for WTL was 11.68 million shares. The share closed at a price of 1.09 per share after losing PKR 0.03 (-2.68%) DoD.
A total of 10.93 million shares of OGDC were traded on the day. The share closed at PKR 78 gaining PKR 0.72 (0.93%) over the previous day.
| Top Trading Companies (KSE All) on 27th June 23 | |||
| Company | Volume (millions) | Closing Price (PKR) | Gain/(Loss) PKR |
| BIPL | 17.43 | 17.76 | 1.24 (7.51%) |
| WTL | 11.68 | 1.09 | -0.03 (-2.68%) |
| OGDC | 10.93 | 78 | 0.72 (0.93%) |
Conclusion
After a period of dips, the stock market gained momentum in the current week as the KSE 100 index witnessed an improvement of 1388 points in just two days. The investors’ participation also improved. The improvement is attributed to the approval of the revised fiscal budget 2024 by the National Assembly on the 25th of June with certain amendments from the Finance Bill presented earlier on the 9th of June 2023 by the finance minister. In the revised budget, the fiscal targets have been enhanced, more favorable as per demands of the IMF to secure the financial bailout related to the 9th review of the IMF program which was delayed since November of the last year.
From the investors’ point of view, the cement, technology, and E&P sectors can be opportunities for buying on dips in the near future, however, more vigilance is required for investment decisions as the stock market is volatile in the current economic scenario of the country.
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Disclaimer
The post is for information and educational purposes. The information has been gathered by the team of Fiscal Updates from the direct sources, however, the information in this post may not be used in any legal document. For trading and investment decisions, proper professional advice should be sought.