Bank profits offset losses as PSX holds a level of 147,000

The Pakistan Stock Exchange (PSX) closed marginally higher on Tuesday as it entered the integration phase, with the KSE-100 reference index earning 75.48 points or 0.05%, installed at 147,005.32.

Analysts noted that investors adopted a careful attitude amid mixed feeling, selective market and profit. The trading volumes recorded an uppick, backed by profits in bank reserves, while the weakness in fertilizers and energy has caused total profits.

Trading Arif Habib Limited (AHL) chief said the KSE-100 index fell in both directions during the meeting before it was slightly positive, maintaining a level of 147,000.

“The mixed feeling was observed during the hours of transactions, with investors choosing some transfer and profit,” he said.

On the news front, Pakistani and US officials have completed details of a trade agreement, while Finance Minister Muhammad Aurangzeb hints at large US investments in various sectors. Meanwhile, Barrick Mining has requested $ 3.5 billion from global lenders, including US -backed institutions, for the development of the Reko Diq Copper and Gold project.

Among the individual transport, Alfalah, HBL, Systems Limited, Meezan Bank and National Foods added 417 points to the interest market index. In contrast, Fauji Fertilizer Company, Mari Petroleum, the oil and gas development company, Pakistani oil and Al Habib lost 527 points.

“Progress, progress in circular debt analysis could further fuel the upward momentum, which he said, some integration or mild correction remains possible. In the event of absorption, 145,000 are expected to serve as the first support, followed by 143,000, while 150,000 is the next basic.”

Overall, trading volumes increased to 691.7 million shares from Monday’s 611.2 million, while the negotiable value increased to 44.6 billion Rs from 44 billion Rs at the previous session.

The shares of 482 companies were negotiated. Of these, 208 closed higher, 242 decreased and 32 remained unchanged. YouSuf Weaving Mills was the volume leader with 46.3 million shares, increasing the RS1 to close to RS6.09.