KARACHI: The share market gained 91 points on Tuesday amid trading in narrow range during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,857 points as against previous day’s closing of 44,767 points, showing an increase of 91 points.
Analysts at Arif Habib Limited said that the market traded in a narrow range after posting an increase of around 2500 points from 42,700 level in the past 2 sessions.
Leveraged positions continued causing jitters every now and then, which kept activity in tech stocks as well as food sector a bit volatile.
Cement sector stocks went up earlier in the session, however, selling pressure brought the levels down by the end of session. Besides Cement, O&GMCs, Steel and E&P sectors bore selling pressure.
Among scrips, UNITY led the table with 37.2 million shares, followed by TELE (35.6 million) and TRG (28.5 million).
Sectors contributing to the performance include Tech (+124 points), Banks (+60 points), Fertilizer (+42 points), Textile (+23 points), Cement (-54 points), O&GMCs (-28 points), Power (-28 points), and E&P (-27 points).
Volumes declined from 455.5 million shares to 408.3 million shares (-10 percent DoD). Average traded value also declined by 9 percent to reach US$ 127.5 million as against US$ 140.1 million.
Stocks that contributed significantly to the volumes include UNITY, TELE, TRG, GGL and PRL, which formed 34 percent of total volumes.
Stocks that contributed positively to the index include TRG (+104 points), HBL (+28 points), EFERT (+21 points), MEBL (+19 points) and SYS (+15 points). Stocks that contributed negatively include HUBC (-37 points), PSO (-17 points), DGKC (-14 points), MLCF (-12 points) and OGDC (-12 points).
