‘Investors remain pessimistic due to mixed market sentiments’

After continuous sessions of selling amidst low investor participation the bourse closed on a negative note yet again as the market fell below the psychological barrier of 9,200 and closed the day at 9,187, losing 73 points.

The investors took a sidelined approach during the day due to uncertainty on DDR and expectations of poor results from the upcoming quarterly results (after declining by 43.9%YoY in 4Q2022) backed by poor disposable income and taxation.

Furthermore, the banking sector backed by HNB, COMB alongside EXPO were the top losing contributors to the index dip

whilst JKH and AEL witnessed revitalized interest during the day. Meanwhile the turnover was recorded as Rs 678.6 Mn, contributed by the Capital Goods sector (26%), Banking sector (13%).

Foreign investors turned net buyers with high participation recording a net foreign inflow of Rs 79.2 Mn. Accordingly, JKH, LLUB and MELS were the top three shares to lead foreign inflow while DIAL, SHOT.X and ASIR were the three counters recording the largest foreign outflow. First Capital research