Pakistan stocks end flat in low volumes

Pakistan stocks end flat in low volumes

KARACHI: Pakistan stocks ended flat on Wednesday as the market witnessed low volumes during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,349 points from previous day’s closing of 42,374 points, showing a decline of 25 points.

READ MORE: Stocks gain 302 points on AIIB inflows

Analysts at Arif Habib Limited said that the PSX witnessed a range-bound session during the day.

The market opened in the green zone but the lack of investors’ participation dive the index down into the red zone and continued to trade in the same zone for most of the trading session.

READ MORE: Pakistan stocks nosedive by 865 points to react policy rate hike

Market participation was approximately lower than the previous session as volumes remained dry in the main board however, decent volumes were recorded in the 3rd tier

Sectors contributing to the performance include Commercial Banks (-79.9 points), Technology and Communication (-17.3 points), Power Generation and Distribution (-18.2 points), Chemical(-8.2 points), Automobile Assembler (-6.9 points).

READ MORE: Weekly Review: investors may react to surprise policy rate hike

Volumes decreased from 139.2 million shares to 120.2 million shares (-13.7 per cent DoD). The average traded value also decreased by 7.9 per cent to USD 20.80 million as against USD 22.58 million.

Stocks that contributed significantly to the volumes are WTL, NCP, DFML, KEL, TRG, GCI, & PIBTL.

READ MORE: Stocks trade in narrow range on last day of week

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