Pakistan stocks end flat in lackluster trade

Pakistan stocks end flat in lackluster trade

KARACHI: Pakistan stocks ended flat on Monday in lackluster trading activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 38,443 points from last Friday’s closing of 38,408 points, showing an increase of 35 points.

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Analysts at Arif Habib Limited said that range-bound session was recorded at the PSX during the day to start off the business week.

The market opened in the green zone but the lack of investors’ participation drove the index down into the red zone however, the market swung in both directions for most of the trading session and managed to close in green.

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Investors opted to remain on the sideline on account of the Monetary Policy rate announcement. Volumes dried up in the mainboard, while third-tier companies continued to lead in terms of volumes.

Sectors contributing to the performance include E&P’s (+84.6 points), Cement (+40.2 points), Technology & Communication (+30.9 points), Power Generation & Distribution (+20.9 points), and Sugar & Allied Industries (+4.1 points).

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Volumes decreased from 93.5 million shares to 81.3 million shares (-13.0 per cent DoD). The average traded value also decreased by 20.1 per cent to USD 12.2 million as against USD 15.2 million.

Stocks that contributed significantly to the volumes are ASCR2, TRG, WTL, GCIBL and PPL.

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