The Pakistan Stock Exchange (PSX) experienced another range-bound session on Tuesday, as its benchmark KSE-100 Index swayed between positive and negative territories amid lack of triggers.
The KSE-100 started positive, hitting an intra-day high of 46,503.82. However, profit-taking erased the gains and pushed the index into the negative territory.
At close, the benchmark index settled at 46,277.66, down by 116.02 points or 0.25%.
“The equity market remained range-bound all today and closed negative amid lack of triggers,” brokerage house Ismail Iqbal Securities stated in its post-market report.
Trading volume, however, stood higher than the previous session.
“Pakistan equities had a better day in term of both market momentum and volumes. The KSE 100 index floated in the range of 245 points (+110 & -135 points) during trading hours,” another brokerage house Topline Securities said.
Banks, E&P, technology, and fertiliser sectors contributed negatively to the index, where investors chose to trim their position into HBL, PPL, SYS, ENGRO, and MEBL as they lost 108 points, cumulatively.
On the flip side, NESTLE, MCB & ATRL added 55 points as they saw buying interest in them, according to Topline Securities.
On Monday, the KSE-100 had closed slightly lower by 27 points after range-bound trading during the day amid lack of positive triggers.
Meanwhile, the Pakistani rupee continued to strengthen against the US dollar, gaining 0.37% in the inter-bank market on Tuesday. As per the State Bank of Pakistan, the local unit settled at 289.8 after an increase of Rs1.06.
This was the rupee’s 15th successive increase against the greenback.
Volume on the all-share index increased to 259.046 million from 195.67 million on Monday.
The value of shares rose to Rs6.69 billion from Rs5.53 billion in the previous session.
P.I.A.C.(A) remained the volume leader with 39.59 million shares, followed by WorldCall Telecom with 26.12 million shares and K-Electric Ltd. with 11.09 million shares.
Shares of 328 companies were traded on Tuesday, of which 142 registered an increase, 165 recorded a fall, and 21 remained unchanged.
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