KARACHI: Pakistan stocks ended flat on Friday amid profit taking seen on the last trading day of the week.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,078 points as against previous day’s closing of 45,083 points, showing a decrease of 5 points.
Analysts at Arif Habib Limited said that range bound session was witnessed today due to the concerns over mounting international oil prices and rising Covid-19 cases.
Market opened on a positive note but soon after profit taking was witnessed across the board.
In the cement sector, LUCK closed in the red zone due to disappointing result as gross margin underwent a dip to 22.6 per cent during 2QFY22 (2QFY21: 29.2 per cent) amid higher coal prices, PKR depreciation and augmented packaging costs, coupled with volumetric decline.
Main board activity remained gloomy. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
Sectors contributing to the performance include Cement (-38.8 points), E&P (-17.8 points), Chemical (-12.6 points), OMC’S (-11.24 points) and Automobile Assembler (-3.11 points).
Volumes increased from 173.6 million shares to 258.9 million shares (+49.2 per cent DoD). Traded value also increased by 23.7 per cent to reach US$ 46.0 million as against US$ 37.2 million.
Stocks that contributed significantly to the volumes include TRG, HUMNL, UNITY, WTL and CNERGY.