Daily Times

This was another tumultuous trading day for the Pakistan Stock Exchange (PSX), with the KSE-100 Index fluctuating throughout the day before closing flat, with the number and value of shares traded decreasing. Ahead of the government budget’s expected announcement on Friday, June 10, 2022, investors have chosen to stay out of the market. Stocks in the banking, technology, food and power sectors were all under pressure.

At the close, the index was down 8.8 points, or 0.02pc, at 41,568.41. The rupee, which finished at 202.83 versus the US dollar on Tuesday, was at its worst level ever against the US dollar.

With an intraday high of 41,854, the KSE-100 began the day with an optimistic outlook. However, in the latter portion of the day, there was a lot of selling pressure.

With all eyes firmly on Friday’s 2022 budget announcement, “Pakistan stocks witnessed a mixed trend,” Topline Securities noted in its post-market statement. As a result, the benchmark index fell as investors chose to stay on the sidelines.

Economic statistics issued by the central bank show that Pakistan’s REER was 95.85 in April 2022, which is down from 96.66 in March 2022 and 102.95 in April 2021. There were three sectors that dragged the KSE-100 index lower: technology (14.01 points), food (11.86 points), and fertilizer (11.86 points) (11.70 points).

The all-share index volume decreased from 189.2m to 157.4m. From Rs4.9b the previous day, the value of shares traded dropped to Rs4.2b today. When it came to share volume, the top three were TPL Properties (17.45m), Unity Foods (15.53m), and Pak Refinery (13.41m). On Tuesday, the shares of 329 firms were traded, with 128 of them rising, 180 falling, and 21 remaining constants.