Pakistan stocks end up in narrow range trading

Pakistan stocks end up in narrow range trading

KARACHI: Pakistan stocks ended up on Wednesday while trading in narrow range during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,737 points from previous day’s closing of 41,714 points, showing an increase of 23 points.

READ MORE: Pakistan stocks gain 174 points amid lackluster trading

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

The benchmark KSE-100 index fluctuated in a narrow range throughout the day after the market opened in the red and quickly created a thin range of trading both ways.

READ MORE: Stocks dip by 158 points as investors remain jittery

Due to the ongoing unfavorable economic sentiments and political instability, investors remained on the sidelines.

Volumes in the main board dried up, although expectations of the gas price hike kept the E&P sector in the limelight.

READ MORE: Weekly Review: stocks may observe range-bound trading

Sectors contributing to the performance include Technology & Communication (+72.3 points), E&P’s (+40.0 points), Miscellaneous (+39.7 points), Textile Composite (+7.2 points), Vanaspati & Allied Industries (+5.1 points).

READ MORE: Pakistan stocks inch up in range-bound trading

Volumes increased from 144.8 million shares to 146.7 million shares (+1.3 per cent DoD). The average traded value also increased by 4.2 per cent to USD 17.4 million as against USD 16.7 million.

Stocks that contributed significantly to the volumes are TPLP, UNITY, DFML, WTL and FCCL.