Stocks inch down amid higher volumes

The trading week began on the Pakistan Stock Exchange (PSX) on a positive note, but the momentum fizzled out amid a lack of positive news drivers. Topline Securities said investors displayed limited enthusiasm on Monday as they kept waiting for positive triggers. According to Arif Habib Ltd, sustaining the benchmark index above the 46,000-point level is going to be important for additional gains this week. Blue-chip stocks stayed subdued during trading hours as big movements were recorded in Pakistan International Airlines Ltd. It rose 22.83 per cent as the government is looking to hire an adviser for its restructuring. Moreover, the share of Javedan Corporation Ltd increased 7.5pc after it announced its annual profit of Rs8 billion for 2022-23 along with a dividend of Rs6 per share. Investors should continue to look for moves towards 46,900 points this week as the market looks forward to the general election in January next year, it added.