KARACHI: The share market ended down by 92 points on Monday while trading in narrow range during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,115 points as against 42,207 points, showing a decline of 92 points.
Analysts at Arif Habib Limited said that the market traded in a narrow range today after opening on a positive note with +41 points.
The session saw index swaying +114 points and -160 points, demonstrating Investors general lack of interest due to concerns over political uncertainty.
Selling pressure was mostly evident in Cement sector stocks, however, E&P stocks also failed to perform amid sticky oil prices in the international market.
Technology sector stocks performed relatively better with NETSOL hitting upper circuit, while TRG trading in the positive zone.
Although ASL and ISL increased product prices, the market didn’t react as positively as they could have. Among scrips, TRG topped the volumes with 41.2 million shares, followed by UNITY (33.2 million) and GGLR1 (18 million).
Sectors contributing to the performance include E&P (-54 points), Cement (-26 points), O&GMCs (-14 points), Banks (-12 points), Power (-12 points), Technology (+19 points) and Insurance (+14 points).
Volumes declined from 427.9 million shares to 380.5 million shares (-11 percent DoD). Average traded value also declined by 2 percent to reach US$ 111.6 million as against US$ 113.3 million.
Stocks that contributed significantly to the volumes include TRG, UNITY, JSCL, PRL and AVN, which formed 32 percent of total volumes.
Stocks that contributed positively to the index include TRG (+16 points), AICL (+13 points), BAHL (+12 points), NESTLE (+9 points) and EPCL (+7 points). Stocks that contributed negatively include OGDC (-27 points), PPL (-25 points), MCB (-15 points), DAWH (-10 points) and LUCK (-10 points).
