KARACHI: Pakistan stocks ended up 79 points on Wednesday amid volatile trading during the day amid political uncertainty.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 39,973 points from previous day’s closing of 39,894 points, showing a gain of 79 points.
Analysts at Arif Habib Limited said that the stock market continued to remain under pressure throughout the day due to concerns regarding uncertain economic situation.
READ MORE: Pakistan stocks end up in mixed trading session
The benchmark KSE-100 index witnessed a volatile session as investors opted to remain sideways as Pak Rupee continued its freefall against US Dollar.
The exchange rate ended at historic low of rupee at Rs236.02 to the dollar from previous day’s closing of Rs232.93 in interbank foreign exchange market.
Main board volumes remained dry whereas decent volumes were observed in the 3rd-tier stocks.
READ MORE: Pakistan stocks fall amid political uncertainty
Sectors contributing to the performance include Banks (+76.9 points), Chemicals (+54.2 points), Technology (+27.5 points), Engineering (+14.4 points) and Cement (+10.1 points).
Volumes decreased from 131.8 million shares to 121.6 million shares (-7.6 per cent DoD). Average traded value also decreased by 1.3 per cent to reach US$ 17.6 million as against US$ 17.8 million.
Stocks that contributed significantly to the volumes are LOTCHEM, WTL, TPLP, CNERGY and UNITY.
READ MORE: Weekly Review: market likely to stay positive on financial results
