KSE-100 gains 0.3% amid thin volumes

The Pakistan Stock Exchange (PSX) recorded a positive session on Monday as the KSE-100 Index inched up 0.3% amid low investor participation.

Looming political uncertainty kept market participants at bay and they waited for clarity. By the end of the session, the KSE-100 Index rose 124.32 points or 0.3% to close at 41,264.66.

Trading began with a spike and the index maintained the rising momentum throughout the session. A selling spree was witnessed in the final hour that erased few of the gains but still the market ended the session in the green.

KSE-100 dives 1.11% over uncertain political situation

Index heavy automobile, cement, chemical, banking and oil sectors closed with gains while fertiliser segment took a hammering and recorded losses.

A report from Arif Habib Limited stated that despite the lack of investor participation, a positive session was witnessed at the PSX.

“Prevailing political clatter kept the volumes dry in the main board as third tier stocks continued to be the volumes leaders,” it said.

A report from Capital Stake stated that bulls made a comeback at the PSX on first trading session of the week.

“Indices traded in green all day long whereas volumes shrunk from last close,” it said.

On the economic front, rupee gained Rs1.5 or 0.71% against the US dollar ending the session at Rs220.89.

Sectors driving the benchmark KSE-100 index north included technology and communication (45.99 points), power generation and distribution (32.53 points) and cement (21.51 points).

Volume on the all-share index plunged to 97.5 million from 177.8 million on Friday. Similarly, the value of shares traded fell to Rs2.5 billion from Rs4.7 billion recorded in the previous session.

WorldCall Telecom was the volume leader with 9.5 million shares, followed by G3 Technologies with 6 million shares and Silk Bank with 5.9 million shares

Shares of 332 companies were traded on Monday, of which 167 registered an increase, 135 recorded a fall, and 30 remained unchanged.