Tug of Power Keeps Market Range-Bound
A tug of power was observed in today’s trading session at the Pakistan Stock Exchange (PSX), as both bulls and bears fiercely contested for dominance. The benchmark index surged to an intraday high of 1,029 points, before heavy selling pressure dragged it down to an intraday low of 1,338 points.
Despite the volatility, the market closed on a positive note, settling at 165,640 with a modest gain of 146 points or 0.09%.PSX Hits Historic High as Bullish Rally Strengthens
On the sectoral front, MARI, MEBL, FATIMA, and BOP collectively contributed +694 points to the index, while ENGROH, HUBC, HBL, PPL, and BAHL weighed down sentiment with a combined drag of -481 points.
Market activity improved compared to the previous session, with volumes recorded at 1,633 million shares and traded value rising to PKR 69.5 billion. KEL dominated the volume chart, with 299 million shares changing hands.
In terms of value traded, PAEL (PKR 7.6bn) led the board, followed by BOP (PKR 5.4bn), MARI (PKR 3.71bn), PSO (PKR 3.2bn), and HUBC (PKR 3.07bn).
Overall, investors remained cautious amid the range-bound activity, with market direction likely to hinge on upcoming economic developments and institutional flows,” Topline analysts said.
