Investors continued to remain jittery, resorting to profit-taking once again as the KSE-100 Index ended almost flat while volumes registered a minor decline at the Pakistan Stock Exchange (PSX) on Tuesday.
An over 200-point intra-day gain was almost erased as the KSE-100 ended with a marginal increase of 54.04 points or 0.11% to settle at 47,419.74 with 48,000 proving to be a major barrier.
In market news, Air Link's book building saw its initial public offering oversubscribed by 1.64 times. The company had planned on raising Rs5.85 billion, the largest private-sector IPO in Pakistan's history.
Air Link IPO: Book-building results in strike price of Rs71.5, offer oversubscribed 1.64 times
Meanwhile, on the results front, Pak Suzuki Motor Company Ltd (PSMC) announced its 1HCY21 financial results where the company declared profit after tax of Rs1.2 billion with an EPS of Rs14.54.
“Tension in the geopolitical region, rising current account deficit, depreciation in the PKR/USD parity, and high COVI0-19 infection ratio kept the sentiment lackluster,” said Arif Habib Limited in its post-market comment.
KSE-100 breaks losing streak, marches up 229 points
Volume on the all-share index declined from 382.64 million on Monday to 378.83 million on Tuesday. The value of shares traded during the session. however. increased to Rs14.02 billion, from Rs12.33 billion on Monday.
Telecard Limited remained the volume leader with 41.61 million shares, followed by Ghani Global Holdings with 32.74 million shares, and Byco Petroleum at 21.73 million shares.
Shares of 524 companies were traded on Tuesday, of which 248 registered an increase, 244 recorded a fall, while 32 remained unchanged.
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