Stock market edges up marginally amid mixed performance

KARACHI: Yesterday (Tuesday), the PSX 100-index posted a modest gain of 73.02 points, reflecting a 0.09 per cent increase, closing at 78,356.32 points, up from Monday’s closing of 78,283.30 points.

Trading began on a positive note, but soon the selling pressures kicked in. However, trading volumes remained robust throughout the session.

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Total trading volume for the day reached 436.67 million shares, slightly down from the 457.28 million shares exchanged in the prior session, as per the PSX website. The total value of traded shares was Rs 12.26 billion, a decrease from Rs 15.87 billion on Monday.

On the one hand, continued uncertainty on International Monetary Fund’s (IMF) loan approval keeps the negative pressures intact for the bourse. On the other hand, the earnings announcements, coupled with the overall improvement in economic indicators are lending strength to the market.