KARACHI: Pakistan’s benchmark KSE-100 index on Wednesday gained 58 points in mixed trading prevailed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,874 points from previous day’s closing of 41,816 points, showing the increase of 58 points.
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Analysts at Arif Habib Limited said that a positive session was recorded at the PSX during the day.
The market opened in the red losing 209.39 points following the ongoing political turbulence in the state. However, bulls quickly droved the index and proceeded to make an intraday high of 193.69 points as investors opted to cherry pick strong fundamental stocks given the attractive valuations being offered in the market.
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Volumes remained robust all across the mainboard while the Cement sector remained in the spotlight.
Sectors contributing to the performance include Cement (+118.5 points), Commercial Banks (+20.6 points), Engineering (+19.2 points), Textile Composite (+13.8 points), and Paper & Board (+12.2 points).
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Volumes increased from 185.3 million shares to 233.3 million shares (+25.9 per cent DoD). The average traded value also increased by +24.9 per cent to USD 29.85 million as against USD 23.89 million.
Stocks that contributed significantly to the volumes are MLCF, HASCOL, WTL, FCCL and DGKC.
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