Uncertain economic conditions kept investors at bay with the benchmark KSE-100 Index witnessing a volatile trading session to end marginally positive on Wednesday.
Range-bound activity was witnessed where the benchmark index traded in a range of 493 points.
At close, the KSE-100 settled with a marginal gain of 78.59 points or 0.20% to close at 39,972.64.
Arif Habib Limited (AHL) in a note said main board volumes remained dry whereas decent volumes were observed in the 3rd-tier stocks.
KSE-100 ends marginally positive as investors await clarity
"News that Fitch Ratings and Moody’s Investor Service expect Pakistan to secure $1.2 billion from the International Monetary Fund (IMF) also acted as a positive trigger,” said Capital Stake in its post-market comment.
Meanwhile, Pakistan's rupee maintained its downward trajectory against the US dollar with the currency closing at 236.02 in the inter-bank market on Wednesday.
On the corporate front, PSX and Meezan Bank Limited signed an agreement whereby PSX, in collaboration with the bank, will provide a dedicated Shariah-compliant trading platform for Roshan Digital Account (RDA) clients. “This will facilitate investors who are focused on investing in Shariah approved securities,” read a statement.
Sectors driving the benchmark KSE 100 index upwards included banking (77.77 points), chemical (54.83 points) and technology and communication (27.79 points).
Volume on the all-share index declined to 121.58 million from 131.86 million on Tuesday. Similarly, the value of shares traded dipped to Rs4.15 billion from Rs4.21 billion recorded in the previous session.
Lotte Chemical was the volume leader with 10.21 million shares, followed by WorldCall Telecom with 9.26 million shares, and TPL Properties Limited with 9.02 million shares.
Shares of 321 companies were traded on Wednesday, of which 153 registered an increase, 141 recorded a fall, and 27 remained unchanged.
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