KARACHI: Pakistan stocks ended down by 305 points on Thursday in dull trading activity during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell to 43,033 points from previous day’s closing of 43,338 points, showing a decline of 305 points.
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Analysts at Arif Habib Limited said that the market was remained range bound throughout the day owing to concerns over rising inflation and political noise.
The benchmark KSE-100 index opened in the positive zone but dull activity was observed. In the last trading hour, profit taking was witnessed across the board which dragged the index in the red zone.
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Volumes remained dry in the main board although hefty volumes were witnessed in the 3rd tier stocks.
Sectors contributing to the performance include Power (-142.4 points), Fertilizer (-32.0 points), E&P’s (-28.4 points), Banks (-27.6 points) and Technology (-25.0 points).
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Volumes decreased from 256.5 million shares to 208.1 million shares (-18.9 per cent DoD). Average traded value also decreased by 11.0 per cent to reach US$ 35.5 million as against US$ 39.9 million.
Stocks that contributed significantly to the volumes are WTL, HASCOL, PIAA, TELE and HUBC.
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