The Pakistan Stock Exchange (PSX) recorded a topsy-turvy session on Tuesday and the KSE-100 Index oscillated between red and green zones throughout the day to end 0.24% lower.
Lack of developments on the economic front coupled with a stalled International Monetary Fund (IMF) programme dented investor interest.
At close on Tuesday, the KSE-100 Index settled at 41,334.69, a decrease of 99.64 points or 0.24%.
KSE-100 retreats to end marginally positive after early-morning gains
Trading began with a jump but a selling spree levelled the index in initial hour. From this point on, the market faced massive volatility and ended negative.
Automobile, banks and oil and gas space closed in the red while cement ended the day on a positive note.
A report from Arif Habib Limited stated that a mixed session was witnessed at the PSX.
“The benchmark KSE-100 index opened in the positive zone but traded both ways throughout the trading session due to the prevailing political unrest. The mainboard saw significantly lower volumes due to the investors’ lackluster participation.
A report from Capital Stake said that the PSX closed a turbulent session on Tuesday flat.
“Indices swayed in both directions, while volumes shrunk from last close,” the statement added.
On the economic front, rupee maintained its positive momentum for the third successive session against the US dollar, appreciating 0.02% or Re0.05 to close at 277.87 on Tuesday.
Sectors dragging the benchmark KSE-100 index downwards included miscellaneous sector (61.89 points), oil and gas exploration sector (56 points) and banking sector (38.37 points).
Volume on the all-share index fell to 160.1 million from 221.6 million on Monday. The value of shares traded decreased to Rs5.3 billion from Rs7.3 billion recorded in the previous session.
Telecard Limited was the volume leader with 23.59 million shares followed by WorldCall Telecom with 12.35 million shares and Maple Leaf Cement with 10.09 million shares.
Shares of 322 companies were traded on Monday, of which 141 registered an increase, 161 recorded a fall and 20 remained unchanged.
Comments
Comments are closed.