Economic uncertainty has caused a dip in stock prices, according to a recent report. The investors are reportedly concerned about delays in reaching a staff-level agreement, which is resulting in mixed trends in the stock market. The situation in Lahore has also negatively impacted investor confidence.
Arif Habib Ltd, one of the leading financial firms in Pakistan, has reported that shares initially started off high, but trading volume has since decreased, creating uncertainty on the economic front. As a result, the KSE-100 index settled at 41,816.43 points, down 40.42 points or 0.10 percent from the starting session.
Trading volume decreased to 31.1 percent to 185.3 million shares, while trading value went down 0.6 percent to $23.9 million on a day-on-day basis. Hascol Petroleum Ltd, World Call Telecom Ltd, Ghani Global Holdings Ltd, Telecard Ltd, and Oil and Gas Development Company Ltd were the top contributors.
Several sectors experienced negative contributions, including food and personal care products, auto, chemical, cement, and banking. On the other hand, Pakistan Services Ltd, Sapphire Textile Mills Ltd, Philip Morris Pakistan Ltd, Sanofi Aventis Pakistan Ltd, and Gatron Industries Ltd were the companies with the biggest increase in their ratios. Meanwhile, Nestle Pakistan Ltd, Sapphire Fibres Ltd, Bata Pakistan Ltd, Ismail Industries Ltd, and JS Global Capital Ltd were the companies with the biggest decreases.
Joint ventures were net businesses as they got rid of shares worth $1.26 million. Overall, the economic uncertainty has led to a decrease in stock prices and created concern among investors.
As the market adjusts to these changes, it’s important to stay informed and cautious when making investment decisions. Keep an eye on market trends and consult with a financial expert to make the most of your investments during this uncertain time.
