PSX Continues with Bullish Trend for the Fourth Successive Session

Wed Jun 07 2023
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ISLAMABAD: Buying trend continued at the Pakistan Stock Exchange (PSX) on Wednesday and the KSE-100 Index surpassed 42,000 points with a gain of 219 points as investors were still expecting a government’s deal with the International Monetary Fund (IMF) to unlock the pending ninth review.

The 100-index remained in the green zone for the fourth consecutive session with a bullish trend as the market closed at 42,142.71 with an increase of 219.25 points or 0.52%.

During the trade, top-tier entities closed in green, including heavy automobile, cement, technology, and communication, chemical and oil sectors. However, the banking sector ended in red while the fertilizer sector closed in mixed.

The volume of the total shared increased to 332.5 million from 240.8 million, while the value of shares traded during the day went down to Rs7.15 billion from Rs7.2 billion recorded in the previous session.

Bullish Trend at PSX

Like top-tier companies, third-tier entities also remained active and managed to trade in the green zone. WorldCall Telecom was the volume leader with 79.6 million shares, while Telecard Limited was the runner-up with a trade of 16.6 million shares, followed by Pakistan International Bulk Terminal with 15.4 million shares.

Market experts believe that investors still hope to get any breathing space from the upcoming budget. However, the fluctuation of the market will continue in the coming days.

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