Pakistan Stock Market Review: equities witness a lackluster day

Karachi, July 05, 2022: Pakistan equities witnessed a lackluster day today on the backdrop of further delay in IMF program as expressed by finance minister quoted on different media sources. Investors opted to stay sideline resulted in low volumes.

Initially, market opened on a positive note today where the KSE100 index made an intraday high at 41,458 (+110 points; up 0.27%). But profit taking has been seen at the aforesaid level which pushed the benchmark index to see an intraday low at 41,069 (-280 points; down 0.68%).

However, some buying interest initiated again at the aforesaid low index level which assisted the KSE100 index to eventually settled at 41,103 (-246 points; down 0.59%) for the day.

Banks, Fertilizer and Chemical sector stocks contributed negatively to the index where HBL, MCB, FFC, BAHL & EPCL lost 100 points, cumulatively. On the flip side, DAWH, UBL and SYS have witnessed some buying interest as they added 31 points collectively, today.

Around 77mn shares traded today at the bourse while total value clocked in at Rs2.4bn. MLCF led the volumes chart today with trading of 6.5mn shares in it, today.

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