KSE-100 closes with marginal loss after mixed session

The Pakistan Stock Exchange (PSX) recorded a muted session on Tuesday and the KSE-100 fell marginally owing lack of positive developments.

Investors waited for positive triggers to make buying decisions.

At close on Tuesday, the KSE-100 Index recorded a decrease of 40.42 points or 0.1% to close at 41,816.43.

KSE-100 inches up in optimistic session

Trading kicked off on a mixed note and the marked hit intra-day low in initial hours. At this point, a buying spree erased losses and the index remained range-bound for the remaining part of the session.

Automobile, cement, fertiliser and oil sectors closed with loss while chemical sector and commercial banks ended on a mixed note.

A report from Arif Habib Limited stated that the PSX witnessed a mixed session.

“The benchmark KSE-100 opened in the green but traded both ways as the index remained choppy throughout the trading period as investors opted to remain cautious on account of the further delay in signing the Staff Level Agreement between the government and IMF along with the prevailing political uncertainty crushing investors’ confidence,” it said. “Volumes across the board remained healthy, while the 3rd tier stocks stayed in the limelight.”

A report from Capital Stake stated that the PSX closed a topsy-turvy session on Tuesday flat.

“Indices swayed both ways while volumes contracted from last close,” it said. “Investors remained wary as no positive developments have yet been made regarding IMF deal. Noise on the political front also contributed to the dull trend.”

Volume on the all-share index dropped to 185.3 million from 289.3 million on Monday. The value of shares traded shrank to Rs6.7 billion from Rs10.3 billion recorded in the previous session.

Hascol was the volume leader with 26.7 million shares followed by WorldCall Telecom with 13.1 million shares and Ghani Global Holdings with 13.1 million shares.

Shares of 319 companies were traded on Tuesday, of which 113 registered an increase, 184 recorded a fall and 22 remained unchanged.