Pakistan stocks end down 74 points

Pakistan stocks end down 74 points

KARACHI: Pakistan stocks ended down by 74 points on Monday in range bound trading during the day.

The benchmark KSE-100 index of Pakistan stock Exchange (PSX) ended at 40,076 points from last Friday’s closing of 40,150 points, showing a decline of 74 points.

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Analysts at Arif Habib Limited said that the market remained range bound today.

The benchmark KSE-100 index opened in the positive zone but investors’ activity remained sideways although PKR snapped its losing streak against US dollar.

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Volumes remained dry in the main board on the contrary, decent volumes were witnessed in the 3rd tier stocks.

The Index closed at 40,075.96 points, down by 74.4 points (-0.19 per cent DoD). Sectors contributing to the performance include Fertilizer (-55.6 points), Banks (-31.6 points), Insurance (-22.0 points), E&P (-10.5 points) and Power (-7.8 points).

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Volumes decreased from 170.3 million shares to 110.4 million shares (-35.1 per cent DoD). Average traded value also decreased by 41.1 per cent to reach US$ 15.6 million as against US$ 26.4 million.

Stocks that contributed significantly to the volumes are TPLP, TRG, WTL, AGL and TELE.

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