- Reuters
- 3 Hours ago

PSX: fluctuations amidst stability efforts
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- Web Desk
- Sep 11, 2023

KARACHI: Last week, Pakistan Stock Exchange (PSX) experienced a positive overall trend, with brief periods of fluctuations characterizing trading activities.
The outgoing week, concluding on September 8, 2023, began on a positive note with fresh buying at lower levels driving market sentiment. The benchmark KSE-100 index surged by 700 points on a week-on-week basis, eventually closing at 46,013.49 points.
However, the first trading day of the current week has witnessed a minor downturn in the index. Early in the morning, the KSE-100 index continued to ride the positive wave, swiftly accumulating 161 points to reach 46,174.68 points. Yet, by midday, it veered in the opposite direction, slipping below 40 points from the opening level. At noon, the KSE-100 found itself hovering around 45,972.36 points.
PSX gains 256 points to close at 46,000 points
Another notable aspect was the remarkably low trading volumes. On Monday morning, only a modest 79 million shares changed hands, indicative of cautious investor sentiment. This trend of lower trading volumes had been observed in the preceding week as well.
The market’s fluctuations remained relatively slender throughout the week, hinting at investors’ attempts to maintain stability in the face of concerns over potential interest rate increases. Positive developments on the government’s front, including the announcement of potential investments from the United Arab Emirates (UAE), also contributed to stabilising the index.
