Pakistan stocks gain 111 points in range bound trading

Pakistan stocks gain 111 points in range bound trading

KARACHI: Pakistan stocks gained 111 points on Tuesday in range bound trading activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 43,504 points from previous day’s closing of 43,393 points, showing a gain of 111 points.

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Analysts at Arif Habib Limited said that the the market witnessed a range bound session today, PSX opened on the positive note but remained volatile due to continuation of Rupee parity against USD as political and economic uncertainty kept the investors at bay.

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The market remained lackluster throughout the day. Main board continued to remain dry whereas hefty volumes were observed in 3rd tier stocks.

Sectors contributing to the performance include Fertilizer (+40.7 points), Technology (+27.6 points), OMC’s (+12.7 points), and Power (+10.8 points).

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Volumes decreased from 305.2 million shares to 233.9 million shares (-23.4 per cent DoD). Average traded value also decreased by 25.7 per cent to reach US$ 36.4 million as against US$ 49.0 million.

Stocks that contributed significantly to the volumes included CNERGY, PRL, PIBTL, LOTCHEM and TELE.

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