KARACHI: The stock market made a gain of 32 points on Wednesday in a range bound trading during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,790 points as against previous day’s closing of 47,758 points, showing an increase of 32 points.
Analysts at Arif Habib Limited said that the market traded range bound today, oscillating between -49 points and +222 points, ending the session +32 points.
Profit booking brought the index down from session’s high, which seems plausible after an ascent of 600 points in the past couple of sessions.
Technology, Fertilizer, Cement and Steel sectors saw profit booking, whereas Banks and O&GMCs moved up. Among scrips, TELE topped the volumes with 58.2 million shares, followed by HASCOL (49.7 million) and WTL (45.6 million).
Sectors contributing to the performance include Banks (+56 points), O&GMCs (+17 points), Chemical (+13 points), Cement (-28 points), Technology (-21 points) and Refinery (-15 points).
Volumes increased from 443.2 million shares to 533 million shares (+20 per cent DoD). Average traded value however declined by 7 per cent to reach US$ 92.7 million as against US$ 99.1 million.
Stocks that contributed significantly to the volumes include TELE, HASCOL, WTL, TPL and PACE, which formed 41 per cent of total volumes.
Stocks that contributed positively to the index include ANL (+19 points), MEBL (+19 points), HBL (+19 points), SNGP (+17 points) and POL (+16 points). Stocks that contributed negatively include TRG (-16 points), PPL (-9 points), GATM (-9 points), DGKC (-9 points) and BAHL (-9 points).
