Skip to main content

KSE-100 Index: Pakistan Stock Exchange on Friday 02-06-2023 Performance.

 

During Friday's trading session, the Pakistan Stock Exchange (PSX) experienced a range-bound performance, with the KSE-100 Index posting a modest increase of 0.21%. The index closed at 41,352.99, gaining 86.22 points. However, the market faced a blend of upside and downside pressures, mainly due to economic and political instability. These factors added selling pressure and prevented significant gains. As a result, investors adopted a cautious approach, leading to thin trading volumes.

 

The trading session began with a mixed sentiment, and the market remained volatile throughout the first session. In the second session, there was a brief spike, but overall, the market traded within a narrow range for most of the day, ultimately closing with a marginal gain. The chemical and fertilizer sectors performed well, ending the day in the green, while the chemical and oil sectors closed in the red. On the other hand, the performance of the automobile and banking sectors was mixed.

 

The session as mixed and volatile, with sideways activity observed due to the country's precarious political and economic condition. Although volumes remained flat, the cement sector garnered attention due to a substantial surge in cement dispatch numbers.

 

Sectors such as banking, food and personal care products, and textile composite contributed to pushing the benchmark KSE-100 Index towards the negative zone, resulting in a decrease of 0.15%. The all-share index witnessed a slight decline in volume to 99.55 million from the previous session's 99.95 million, but the value of shares traded increased to Rs3.3 billion compared to Rs2.9 billion.

 

Pakistan International Bulk Terminal emerged as the volume leader with 10.4 million shares, followed by WorldCall Telecom with 9.4 million shares and DG Khan Cement with 8.1 million shares. A total of 296 companies' shares were traded on Friday, with 146 companies experiencing an increase in their stock prices, 120 recording a fall, and 30 remaining unchanged.

Labels:

Comments

Post a Comment

Popular posts from this blog

Federal Budget Strategy 2023-24 Pakistan

  Introduction: The upcoming federal budget of Pakistan for 2023-24 holds significant importance, with speculations ranging from an election-focused budget filled with tax breaks and subsidies to a budget driven by the need for structural reforms and adherence to the International Monetary Fund (IMF) agreement. Striking a balance between these opposing pressures, the government must adopt a more nuanced budget strategy that encompasses progressive taxation, resource mobilization, and expenditure containment. This article aims to present a comprehensive budget strategy that creates fiscal space for providing relief to segments of the population severely impacted by unemployment and high inflation.   Budget Targets for 2022-23: The ambitious federal budget for 2022-23 was formulated in consultation with the IMF, embodying key targets outlined in the IMF Staff statement following the completion of several reviews. The targets included a projected 5% economic growth rate, ...
Post a Comment
Read more

Exploring UAE's Tax Reforms in 2023: Implications for Businesses and Individuals

Introduction: The United Arab Emirates (UAE) has been widely recognized for its favorable tax environment, offering businesses and individuals attractive incentives for many years. However, as economies evolve and fiscal requirements shift, governments often undertake reforms to ensure sustainable revenue streams. In line with this, the UAE has recently implemented significant tax reforms for the year 2023. This article provides a comprehensive overview of the key changes and their implications on businesses and individuals operating in the UAE.   Value Added Tax (VAT) Modifications: One of the central elements of the UAE tax reforms in 2023 revolves around modifications to the Value Added Tax (VAT) system. The standard VAT rate, currently set at 5%, is expected to undergo a revision. While the precise details are yet to be announced, the proposed changes aim to enhance the country's revenue base and align with international standards. Businesses and consumers alike should ...
Post a Comment
Read more

Exploring Business Opportunities in the UAE: An Outlook for 2023

  Introduction: The United Arab Emirates (UAE) continues to be a hotspot for business ventures, with its dynamic economy and favorable business environment. As we look ahead to 2023, the UAE presents a plethora of opportunities for entrepreneurs and investors seeking to establish or expand their presence in the region. This article aims to provide an overview of the business opportunities available in the UAE and shed light on the factors that contribute to its attractiveness as a business destination.   Thriving Industries: The UAE boasts diverse and flourishing industries that offer lucrative prospects for businesses. Key sectors such as tourism and hospitality, real estate, logistics and transportation, finance and banking, renewable energy, technology, and healthcare continue to demonstrate robust growth and present ample opportunities for investment and expansion.   Strategic Location: Strategically located at the crossroads of Europe, Asia, and Africa,...
Post a Comment
Read more