The Pakistan Stock Exchange (PSX) reversed its trend on Tuesday and the KSE-100 Index fell 0.13% in a volatile session.
Looming uncertainty dampened investor sentiment and they resorted to sell off their holdings.
As a result, the KSE-100 Index fell 56.16 points or 0.13% to close at 42,155.48.
KSE-100 records roller-coaster session ahead of monetary policy announcement
Trading began with a jump and the market remained in the green zone in first half of the session. Selling pressure emerged in the second half as the index erased all gains and entered the negative territory. A late session buying spell wiped off some of the losses but still the market closed in the red.
Automobile and cement spaces closed in red while banks and oil sectors ended the day on the mixed note. Fertiliser sector saw buying interest and closed in the green.
A report from Capital Stake cited that the PSX ended a topsy-turvy session on Tuesday flat.
“Indices swayed in both directions whereas volumes increased from last close,” it said.
Arif Habib Limited said in its report that PSX witnessed a range-bound session as investors choose to book profits.
“The benchmark KSE-100 Index, despite opening in the positive zone, failed to continue the momentum whereas participation remained sluggish that led the index to close in the red zone,” it said. “Volumes remained healthy in the main board on the contrary hefty volumes were recorded in the third tier stocks.”
On the economic front, rupee continued to gain against the US dollar for the 13th successive session, and appreciated nearly 0.1% in the inter-bank market on Tuesday to close at Rs217.79.
Sectors driving the benchmark KSE-100 lower included technology and communication sector (110.10 points), cement sector (31.67 points) and oil and gas exploration sector (7.29 points).
Volume on the all-share index rose to 304.8 million from 240.2 million on Monday. On the other hand, the value of shares traded fell to Rs10.5 billion from Rs9.42 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 39 million shares, followed by Cnergyico PK with 34.1 million shares and Pakistan Refinery with 32.4 million shares
Shares of 341 companies were traded on Tuesday, of which 139 registered an increase, 176 recorded a fall, and 26 remained unchanged.
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