Pakistan stocks gain 29 points amid dull trading

Pakistan stocks gain 29 points amid dull trading

KARACHI: Pakistan stocks gained 29 points as the market witnessed dull trading activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,551 points from previous day’s closing of 43,522 points, up by 29 points.

READ MORE: Pakistan stocks gain 319 points amid volatile trading

Analysts at Arif Habib Limited said another dull day witnessed at PSX today. In spite of prevailing political noise KSE-100 index managed to remain in green zone throughout the day.

Main board activity remained dull. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. In the last trading hour, value buying was witnessed.

READ MORE: Stocks witness range bound activity on rupee fall

Analysts at Topline Securities said that range bound session was observed at the market today as the KSE-100 Index traded between an intraday high of 164 points and intraday low of 147 points to finally settle at 43,551 level.

Sectors contributing to the performance include Commercial Banks (+34.9 points), Fertilizer (+27.5 points), Automobile Assembler (+9.14 points) and Inv Banks (+6.12 points).

READ MORE: Pakistan stocks up 200 points on Reko Diq deal renewal

Volumes increased from 149.8 million shares to 161.9 million shares (+8.1 per cent DoD). Average traded value decreased by 26.5 per cent to reach US$ 22.8 million as against US$ 31.0 million.

Stocks that contributed significantly to the volumes include WTL, DSL, CENERGY, TELE AND PIBTL.

READ MORE: Weekly Review: political unrest to keep stocks under pressure

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