Daily Times

The benchmark KSE-100 Index experienced a tumultuous trading session on Wednesday, ending modestly up due to uncertain economic conditions. The benchmark index fluctuated in a range of 493 points during the trading day.

The KSE-100 ended the day at 39,972.64 with a gain of 78.59 points, or 0.20pc.

According to a post-market comment made by Capital Stake, “News that Fitch Ratings and Moody’s Investor Service expect Pakistan to win $1.2b from the International Monetary Fund (IMF) also worked as a positive trigger.”

On Wednesday, the Pakistani rupee finished trading in the inter-bank market at a rate of 236.02 dollars to the US dollar. This is a continuation of the rupee’s downward trend versus the US dollar.

On the business front, PSX and Meezan Bank Limited signed an agreement under which PSX, in partnership with the bank, will provide clients of Roshan Digital Account (RDA) with a specialised Shariah-compliant trading platform. This arrangement was made public on the PSX website. According to a statement, “this will make it easier for investors who are intent on putting their money into Shariah-compliant assets.”

Banking (77.77 points), chemical (54.83 points), and technology and communication (54.83 points) were among the industries that contributed to the increase in the benchmark KSE 100 index (27.79 points).

After reaching a high of 131.86m on Tuesday, the volume on the all-share index fell to 121.58m on Wednesday. In a similar vein, the value of shares that were exchanged fell from Rs. 4.21b in the previous session to Rs. 4.15b in the current session.

The company that traded the most shares by volume was Lotte Chemical, with 10.21m, followed by WorldCall Telecom, which traded 9.26m shares, and TPL Properties Limited, which traded 9.02m shares.

On Wednesday, shares from 321 different firms were exchanged, and of those companies, 153 saw their share price go up, 141 saw their share price go down, and 27 saw no change.