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.

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.

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).

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.