Stocks rise in politically driven mixed trading

The stock market witnessed a mixed trading session on Wednesday as share prices opened on the lower side owing to the negative news flow. Arif Habib Ltd said share prices moved in both directions afterwards while investors remained vigilant in view of the ongoing political uncertainty. Their involvement stayed sluggish throughout the trading session with volumes drying up on the mainboard of the stock exchange. Topline Securities said the initial negativity came from Systems Ltd, which announced lower-than-expected earnings for the fourth quarter of 2022. However, share prices of heavyweights like Engro Corporation Ltd, MCB Bank Ltd, Dawood Hercules Corporation Ltd, Pakistan Oilfields Ltd and Frieslandcampina Engro Pakistan Ltd closed higher than their preceding close, cumulatively adding 104 points to the index.