KARACHI: Pakistan stocks ended down by 43 points on Wednesday owing to mixed trading session was observed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,758 points from previous day’s closing of 40,801 points, showing a decline of 43 points.
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Analysts at Arif Habib Limited said that the mixed session was witnessed at the PSX during the day.
The benchmark KSE-100 index opened in the positive zone and continued to trade within a range through most of the trading session.
However, in the last trading hour, investors’ interest got ignited following the press conference held by the Prime Minister and the team as the Finance Minister indicated the much-anticipated solution for the resolution of Gas Circular Debt which boosted activity in E&P stocks.
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Healthy volumes were observed across the board while both third-tier companies continued to dominate the volume board.
Sectors contributing to the performance include Cement (-45.2 points), Commercial Banks (-30.8 points), Technology & Communication (-27.9 points), Pharmaceuticals (-19.6 points), and Power Generation & Distribution (-18.5 points).
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Volumes decreased from 214.3 million shares to 189.4 million shares (-11.7 per cent DoD). The average traded value increased by 6.3 per cent to USD 30.6 million as against USD 28.8 million.
Stocks that contributed significantly to the volumes are KEL, PPL, SSGC, OGDC & SNGP.
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