Economy

Pakistan Stock Exchange closed in green zone

Karachi, September 24, 2019: After 2 days of negative closing, Pakistan Stock Exchange (PSX) on Tuesday decided to play in the green region as it opened upwards before retracing its steps to make a low of -315 points.

At the end of the day, KSE 100 managed to close positive, making a high of +141 points before closing up +78 points at 31,829 level.

On the news front, US President Donald Trump reiterated his offer to mediate between Pakistan and India on the Kashmir dispute and lauded Prime Minister Imran Khan’s political wisdom and leadership role for regional peace and development.

Mixed sentiments were seen in the cement sector where LUCK (+1.1 percent) and FCCL (+0.1 percent) closed green while MLCF (-4.0 percent), DGKC (-0.9 percent) and PIOC (-0.9 percent) closed in the red region.

Investor’s interest was witnessed in the E&P sector where heavy volumes were in PPL (+1.5 percent) and OGDC (+0.4 percent). Moving forward we expect market to consolidate at these level and we recommend investors to accumulate valued stocks on dip.

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