Share market remains range bound amid low volumes

KARACHI: The stock market ended range bound on Wednesday as investors were in a fix over lack of triggers.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended down at 33,840 points as against 33,856 points showing a decrease of 16 points.

Analysts Arif Habib Limited said the market remained range bound today amidst low volumes.
The fourth consecutive session ended in below 60 million volumes and one of the lowest in recent days.

Absence of any significant trigger kept the investors in a fix whether to invest at these levels. Cement sector led the volumes table with 7.7 million shares, followed by Engineering (4.9 million) and Banks (4.5 million).

Major volumes were observed in DSL with 3.4 millino shares, followed by Quice (2.5 million) and MLCF (2.5 million).

PM’s visit to Karachi failed to motivate investors to take a view on market.

Sectors contributing to the performance include Power Generation (-15 points), E&P (-12 points), Automobile Assembler (-9 points), Fertilizer (-5 points), Pharmaceuticals (-3points).

Volumes decreased by 33 percent DoD to reach 40.30 million as against 60.16 million. Average traded value also decreased by 33 percent to reach US$ 10.3 million as against US$ 15.4 million.

Stocks that contributed significantly to the volumes include DSL, QUICE, MLCF, SNGP and CHCC, which formed 29 percent of total volumes.

Stocks that contributed positively include SNGP (+12 points), HBL (+12 points), ENGRO (+11 points), LUCK (+7 points) and CHCC (+3pt). Stocks that contributed negatively include HUBC (-19 points), EFERT (-11 points), PPL (-7 points), OGDC (-5 points) and SHFA (-4 points).

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