KSE-100 rises 0.28% in volatile session

The Pakistan Stock Exchange (PSX) witnessed a tumultuous session on Thursday and the KSE-100 Index rose 0.28% after oscillating in red and green zones.

Lack of positive news flow drove volatility in the market.

At the end of the session, the KSE-100 Index was up 113.56 points or 0.28% to close at 40,733.51.

Following a short-lived spike, uncertainty gripped the KSE-100 Index as downside and upside pressures impacted trading. A buying spree in the final hour propped up the gains.

PSX sees range-bound session, KSE-100 falls 0.13%

Automobile and cement spaces saw buying activity while chemical and fertiliser sectors closed downward. Oil segment ended the day on mixed note.

A report from Topline Securities stated that Pakistan equities witnessed a mixed day.

“The KSE-100 index went into negative territory initially and made an intra-day low at 40,445 (-175 points; down 0.43%) but, value hunting started across the board to support market and pulled index toward intra-day high at 40,827 (+207 points; up 0.51%) before eventually settled at 40,734 (+114 points; up 0.28%) for the day.”

A report from Capital Stake stated that positive sentiment brewed at the PSX on Thursday.

“Indices swayed in both directions until finally closing in green, while volumes fell form last close,” it said.

On the economic front, rupee remained under pressure against the US dollar and lost Rs2.53 or 0.93% to close at 271.36.

Sectors lifting the benchmark KSE-100 index higher included fertiliser (56.40 points), power generation and distribution (33.06 points) and cement (31.73 points).

Volume on the all-share index fell to 124.1 million from 131 million on Wednesday. The value of shares rose to Rs6.1 billion from Rs5.9 billion recorded in the previous session.

WorldCall Telecom was the volume leader with 20.6 million shares, followed by Pak Petroleum with 12.3 million shares and Dewan Motors with 6.2 million shares.

Shares of 328 companies were traded on Thursday, of which 152 registered an increase, 146 recorded a fall and 30 remained unchanged.