KARACHI: The stock market ended down by 15 points on Tuesday as investors preferred profit booking during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,251 points as against 43,266 points showing a decline of 15 points.
Analysts at Arif Habib Limited said that the market added another 443 points during the session today before facing the selling pressure that eroded all the gains and took the Index down by -140 points.
The oscillation of 580 points today was attributed mainly to profit booking by investors, after seeing a total increase of 4000 points since the recent drop to 39500 level.
E&P and Cement Sectors mostly contributed to the downside of index, although oil prices maintained yesterday’s level. Among scrips, PRL maintained the top slot with 64.3 million shares, followed by HASCOL (62.5 million) and ANL (42.6 million).
Sectors contributing to the performance include Banks (+109 points), Textile (+32 points), Autos (+23 points), Cement (-60 points), E&P (-58 points), Power (-44 points) and Technology (-27 points).
Volumes increased further from 629.3 million shares to 702.2 million shares (+12 percent DoD). Average traded value also increased by 11 percent to reach US$ 182.3 million as against US$ 164.7 million.
Stocks that contributed significantly to the volumes include PRL, HASCOL, ANL, PIBTL and LOTCHEM, which formed 38 percent of total volumes.
Stocks that contributed positively to the index include MCB (+40 points), MEBL (+29 points), FFC (+17 points), MTL (+17 points) and NML (+17 points). Stocks that contributed negatively include HUBC (-40 points), LUCK (-36 points), PPL (-28 points), OGDC (-24 points) and TRG (-20 points).
