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The Pakistan Stock Exchange (PSX) traded in a narrow range on Wednesday as the KSE-100 Index closed with meagre loss of 0.06%.

Lack of positive triggers resulted in range-bound trading at the stock market.

At the end of the session, the benchmark index was down 24.28 points or 0.06% to close at 41,514.44.

KSE-100 remains under pressure, down 0.58%

Trading began upward and the market remained in the green area for most part of the session. A dip in the final hours made it close in the red.

Index-heavy banking, fertiliser and oil sectors recorded modest losses while automobile and cement sector closed mixed.

A report from Arif Habib Limited stated that a range-bound session was recorded at the PSX.

“The market opened in the green and strived with optimism over resumption of the IMF programme for the long-due 9th review as the rupee continued to gain against the US dollar,” it said. “Investors remained active for most of the day as robust volumes were recorded in the third tier stocks.”

A report from Capital Stake cited that investors at PSX witnessed a bumpy session on Wednesday.

“Indices traded between both zones until finally closing flat. Volumes went up from last close,” it said.

Sectors driving the benchmark KSE-100 Index south included technology and communication (27.03 points), power generation and distribution (20.43 points) and food and personal care products (18 points).

Volume on the all-share index rose to 179.6 million from 144.2 million on Tuesday, while the value of shares traded dropped to Rs3.75 billion from Rs4.1 billion recorded in the previous session.

TPL Properties was the volume leader with 45.8 million shares followed by Hascol with 22.7 million shares and WorldCall Telecom with 19.1 million shares.

Shares of 320 companies were traded on Wednesday, of which 131 registered an increase, 162 recorded a fall and 27 remained unchanged.

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