KARACHI: The stocks have ended down by 80 points on Wednesday in a range bound trading activity.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,032 points as against 47,113 points showing an decrease of 80 points.
Analysts at Arif Habib Limited said that the market remained range-bound today due to concerns over monetary tightening and resuming of foreign selling spree.
Technology sector remained in the limelight throughout the day as traders placed the bet on high-beta stocks to mark quick trading gains. On the flip-side, Institutional investors fetched for value hunting as buying was observed in E&P and banking stocks.
In the last trading hour, investors opted for profit booking specially in cement and steel stocks in expectation of interest rate hike by SBP in the upcoming monetary policy.
Sectors contributing to the performance include Technology (+193 points), Refinery (+22 points), Chemical (+19 points), Leather (+12) and Insurance (+7 points).
Volumes increased from 307 million shares to 381 million shares (+24.2 per cent DoD). Average traded value also increased by 12.7 per cent to reach US$ 91.5 million as against US$ 81.08 million.
Stocks that contributed significantly to the volumes include PTC, HASCOL, WTL, TRG and TPLP.
