The Pakistan Stock Exchange (PSX) endured a mixed session on Monday and the KSE-100 Index ticked up 0.19% owing to lack of developments on the International Monetary Fund (IMF) front.
Investors also expect the State Bank of Pakistan (SBP) to jack up the interest rates and chose to remain on the sidelines.
By the end of the trading session, the benchmark index was up 76.37 points or 0.19% to close at 40,784.13.
KSE-100 falls 0.32% as IMF programme remains hanging in balance
Trading began upward however, the market entered negative territory at noon. A late session buying spell aided the KSE-100 Index in closing upward.
A report from Arif Habib Limited stated that PSX started off the week with mixed sentiment.
“The market started in the positive territory but continued to trade in both directions as investors chose to remain passive during the trading session due to political uncertainty and the delayed IMF programme,” it said. “Volumes across the board stayed sluggish as investors await clarity on political and economic issues.”
A report from Capital Stake stated that the PSX closed first trading session of the week flat.
“Indices oscillated in both directions whereas volumes appreciated from last close,” it said. “Investors remained indecisive despite the ongoing result season, as the State Bank’s is yet to announce the new policy rate, which is most likely to increase.”
On the economic front, the rupee registered a marginal improvement of 0.03% or Re0.07 against the US dollar to close at 259.92.
Sectors raising the benchmark KSE-100 Index higher included banking (86.04 points), miscellaneous (50.42 points) and power generation and distribution (17.67 points).
Volume on the all-share index rose to 158.1 million from 153.4 million on Friday. The value of shares increased to Rs5.72 billion from Rs4.96 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 39.6 million shares followed by Hub Power Company with 22.7 million shares and TPL Properties with 12 million shares.
Shares of 331 companies were traded on Monday, of which 135 registered an increase, 173 recorded a fall and 23 remained unchanged.