Stocks end down amid low volumes, lackluster trading

Stocks end down amid low volumes, lackluster trading

KARACHI: Stocks ended down by 7 points on Wednesday in a low volumes and lackluster trading activities. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,847 points as against previous day’s closing of 43,853 points.

Analysts at Arif Habib Limited said that the market remained range-bound today, with low volumes and lackluster activity witnessed across the board. KSE-100 went up 285 points during the day but could not manage to sustain positive momentum.

Activity was witnessed majorly in E&P stocks, on expectations of resolution of Gas circular debt. Technology stocks witnessed a sharp pull back, with good volumes.

Sectors contributing to the performance include Cement (-83 points), Fertilizer (-32 points), Pharmaceuticals (-14 points), Engineering (-13 points) and Refinery (-10 points).

Volumes increased from 229.4 million shares to 233.2 million shares (+1.7 per cent DoD). Traded value decreased by 16.3 per cent to reach US$ 39.5 million as against US$ 47.2 million.

Stocks that contributed significantly to the volumes included HASCOL, TELE, TREET, UNITY and BYCO.

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