PSX witnesses range-bound session, KSE-100 closes marginally higher

The Pakistan Stock Exchange (PSX) witnessed a range-bound session and the benchmark KSE-100 Index ended marginally positive amid a lack of triggers and low volumes, as investors remained ‘vigilant’ due to the country’s prevailing economic situation.

The indices traded in the green all day long, as the benchmark index reached an intra-day high of 40,204.40, an increase of 204 points. At close, it settled at 40,082.37, an increase of 82 points or 0.2%.

A report from Arif Habib Limited (AHL) stated that the market remained concerned over the ongoing political volatility and uncertainty pertaining to the resumption of the International Monetary Fund (IMF) Extended Fund Facility (EFF) programme.

“Investors chose to be vigilant due to the ongoing political and economic uncertainty,” read the report.

“Investors’ involvement remained dull throughout the day, as volumes in the mainboard dried up while third-tier stocks continued to dominate the volume board,” it added.

Volatility persists at PSX, KSE-100 ends nearly flat

On the economic front, the rupee remained relatively unchanged against the US dollar and appreciated Re0.03 or 0.01% in the inter-bank market on Tuesday to settle at 283.55.

Sectors driving the benchmark KSE-100 Index upwards included, banking (30.71 points), fertilizer (24.53 points) and food and personal care products (20.80 points).

Volume on the all-share index increased to 87.2 million from 64.5 million on Monday. The value of shares traded inched up to Rs3.3 billion from Rs2.5 billion recorded in the previous session.

Telecard Limited was the volume leader with 23.8 million shares followed by WorldCall Telecom with 4.2 million shares and K-Electric Limited with 3.8 million shares.

Shares of 300 companies were traded on Tuesday, of which 136 registered an increase, 134 recorded a fall and 30 remained unchanged.