KARACHI: Pakistan stock ended down by 54 points on Tuesday as investors opted for profit taking.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,797 points from previous day’s closing of 42,851 points, showing a decline of 54 points.
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Analysts at Arif Habib Limited said that a range-bound session was witnessed at the PSX during the day.
The market opened in the red zone on account of political uncertainty, but later in the day investors jumped back, turning the index green and helping it reach an intraday high of 184.95 points.
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Profit-taking was observed in the final hour of trading causing the index to close in the red. Investors’ participation remained low, on the contrary, 3rd tier stocks remained as volume leaders.
Sectors contributing to the performance include Technology & Communication (-58.6 points), Miscellaneous (-24.6 points), Power Generation & Distribution (-16.8 points), Cement (-16.0 points), and Vanaspati & Allied Industries (-10.1 points).
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Volumes increased from 185.5 million shares to 188.7 million shares (+1.7 per cent DoD). The average traded value also increased by +23.0 per cent to USD 33.40 million as against USD 27.14 million.
Stocks that contributed significantly to the volumes are LOTCHEM, WTL, TRG, UNITY, and TPLP.
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