KARACHI: Pakistan stocks declined by 56 points on Tuesday as investors preferred profit taking during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,155 points from previous day’s closing of 42,211 points, showing a decline of 56 points.
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Analysts at Arif Habib Limited said that the PSX witnessed a range bound session on Tuesday as investor choose to book profits.
The benchmark KSE-100 index despite opening in the positive zone failed to continue the momentum whereas participation remained sluggish that led the index to close in the red zone.
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Volumes remained healthy in the main board on the contrary hefty volumes were recorded in the 3rd tier stocks.
Sectors contributing to the performance include Technology (-112.1), Cement (-28.0 points), E&P’s (-7.3 points), Vanaspati & Allied Industries (-6.5 points) and Textile Composite (-6.5 points).
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Volumes increased from 240.2 million shares to 304.8 million shares (+26.9 per cent DoD). The average traded value decreased by 6.5 per cent to US$ 45.2 million as against US$ 48.3 million.
Stocks that contributed significantly to the volumes are WTL, CNERGY, PRL, PAEL and GGL.
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