KSE-100 index sheds 163 points in range bound trading

KSE-100 index sheds 163 points in range bound trading

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Tuesday declined by 163 points amid range bound trading activity during the day.

The KSE-100 index ended at 45,419 points as compared with previous day’s closing of 45,256 points.

Analysts at Topline Securities said that another lack lustered day at PSX where bourse witnessed a range bound activity.

The benchmark index cycled in 270 points during trading hours as KSE-100 index made an intraday high and low of 45,517 and 45,214, respectively before closing at 45,256.

Investors’ sentiment remained low today in absence of any positive trigger as no progress on IMF program front, Chief of intelligence agency notification is yet to get issued and no updates on Saudi oil deferral payment facility.

During the day, Technology, E&P and Banking sector’ stocks seen some profit taking where TRG, MARI, HBL, UBL, PPL & OGDC cumulatively lost 182 points while, SYS, MEBL & HUBC provided some support by contributing 86 points positively.

On the corporate announcement fronts, MARI posted 1QFY22 EPS at Rs68.21. Earnings were inline with industry expectations. ISL earned the EPS of Rs6.13 1QFY22. Earnings were higher than industry expectations.

During the day, all shares volumes and values stood at 162.97 million shares and Rs5.7 billion, respectively. HUMNL led the volumes chart today as 24.88 million shares traded today in it.

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