KSE-100 index ends firmer amid political instability

KSE-100 index ends firmer amid political instability

KARACHI: Benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended firmer on Tuesday amid political instability.

The benchmark KSE-100 index ended at 41,817 points from previous day’s closing of 41,857 points, showing a decline of 40 points.

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Analysts at Arif Habib Limited said that the PSX witnessed a mixed session during the day.

The benchmark KSE-100 opened in the green but traded both ways as the index remained choppy throughout the trading period as investors opted to remain cautious on account of the further delay in signing the Staff Level Agreement (SLA) between the government and IMF along with the prevailing political uncertainty crushing investors’ confidence.

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Volumes across the board remained healthy, while the 3rd tier stocks stayed in the limelight.

Sectors contributing to the performance include Food & Personal Care Products (-11.9 points), Autos (-5.7 points), Chemicals (-5.0 points), Cements (-4.7 points), and Banks (-4.6 points).

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Volumes decreased from 289.3 million shares to 185.3 million shares (-32.1 per cent DoD). The average traded value also decreased by -0.6 per cent to USD 23.9 million as against USD 24.0 million.

Stocks that contributed significantly to the volumes are HASCOL, WTL, GGL, TELE and OGDC.

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