KARACHI: Pakistan stocks ended flat on Wednesday as range bound trading activities observed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43,338 points from previous day’s closing of 43,367 points, showing a decline of 29 points.
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Analysts at Arif Habib Limited said that a range bound session was observed in the market today due to roll-over week.
The benchmark KSE-100 index opened in the positive zone but sluggish activity was witnessed throughout the day.
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In the last trading hour profit taking was observed which led the index to close in the red zone.
Volumes remained dry in the main board although healthy volumes were witnessed in the 3rd tier stocks.
Sectors contributing to the performance include Cement (-43.8 points), Misc. (-43.5 points), Inv Banks (-19.1 points), Textile Composite (-12.2 points) and E&P (-12.1 points).
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Volumes decreased from 324.4 million shares to 256.5 million shares (-20.9 per cent DoD). Average traded value also decreased by 9.4 per cent to reach US$ 40.1 million as against US$ 44.2 million.
Stocks that contributed significantly to the volumes are HASCOL, KEL, PIAA, BAFL and TPLP.
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