The Pakistan Stock Exchange (PSX) endured a mixed session on Tuesday and the KSE-100 Index closed almost flat after oscillating in red and green zones.
Lack of progress on the International Monetary Fund (IMF) bailout kept investors on the sidelines.
At close, the KSE-100 Index settled at 39,804.71, a decrease of 31.19 points or 0.08%.
KSE-100 falls 0.53% over lack of investor interest
Trading began upward but the KSE-100 Index was unable to sustain the uptrend and it hit an intra-day low at noon. From this point onward, the market began ascent but still it closed with a loss.
The cement space closed with gains while banks and fertiliser saw massive losses. Automobile, chemical and oil segments ended the day on mixed note.
A report from Arif Habib Limited stated that a mixed session was taped at the PSX.
“The benchmark KSE-100 index opened in the green but struggled to hold its position as the bourse traded in both directions and eventually concluded in the negative territory,” it said. “Volumes remained flat across the board as a result of investors’ lack of engagement, primarily a consequence of the delayed IMF talks for the 9th tranche of the Extended Fund Facility.”
Capital Stake, in its report, cited that PSX ended a volatile session on Tuesday flat. Indices traded in red for most part of the day while volumes decreased from last close, it said.
On the economic front, car sales in Pakistan fell to 7,201 units in March 2023 from 22,799 in same period last year.
Sectors dragging the benchmark KSE-100 lower included banking (24.17 points), fertiliser (16.25 points) and power generation and distribution (8.98 points).
Volume on the all-share index dropped to 59.7 million from 105.9 million on Monday while the value of shares traded fell to Rs1.4 billion from Rs1.8 billion recorded in the previous session.
K-Electric Limited was the volume leader with 9.3 million shares followed by WorldCall Telecom with 7.1 million shares and Maple Leaf Cement with 3.1 million shares.
Shares of 288 companies were traded on Tuesday, of which 108 registered an increase, 159 recorded a fall and 21 remained unchanged.