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Pakistan equities witnessed a range-bound session amid domestic political noise and rising prices of global commodities, as the benchmark KSE-100 inched up 0.38% to close above the 43,000-point level on Wednesday.

The market opened on a positive note after the Monetary Policy Committee of the State Bank of Pakistan (SBP) decided to keep the policy rate unchanged at 9.75%.

The benchmark index made an intra-day high at 43,218, up 339 points, during the first hour of the session. However, profit-taking kicked in, pushing the index towards the intra-day low of 42,865.

At close, the KSE-100 Index ended with a gain of 164.61 points or 0.38% to settle at 43,042.96.

Volumes remained thin as domestic political uncertainty surrounded the market after the opposition on Tuesday submitted a no-confidence motion against Prime Minister Imran Khan in the National Assembly Secretariat.

KSE-100 down 0.9% amid political noise

Sectors contributing to the upwards movement of the KSE-100 included technology and communication (83.87 points), fertiliser (65.69 points) and oil and gas exploration (22.16 points).

On the corporate front, Sazgar Engineering Works Limited (SAZEW) in a notification to the bourse announced that a total of 1,553 three-wheeler units were produced in February while 1,504 units were sold. Additionally, 43 four-wheeler units were produced and sold in February.

Volume on the all-share index decreased to 183.71 million from 226.11 million on Tuesday. The value of shares traded also declined to Rs6.07 billion from Rs7.12 billion recorded in the previous session.

Ghani Global Holdings Limited was the volume leader with 12.79 million shares, followed by Pakistan International Bulk Terminal with 12.53 million shares, and TPL Corporation with 11.14 million shares.

Shares of 341 companies were traded on Wednesday, of which 148 registered an increase, 167 recorded a fall, and 26 remained unchanged.

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