KARACHI: Pakistan stocks ended flat on Wednesday as the market witnessed volatile trading session during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,012 points from previous day’s close of 42,001 points, showing a gain of 11 points.
READ MORE: Stock market gains 139 points amid weak sentiments
Analysts at Arif Habib Limited said that another range bound session was witnessed at PSX today due to concerns regarding political noise and continuous hammering of Pak Rupee (PKR) against US dollar.
The Pakistani Rupee (PKR) continued its falling spree for the ninth consecutive session against the dollar as the foreign currency ended at PKR 234.32 at closing of the interbank foreign exchange market on Wednesday.
READ MORE: Pakistan stocks shed 86 points in range bound trading
The exchange rate witnessed a decline of Rs2.41 in rupee value to end at Rs234.32 to the dollar from previous day’s closing of Rs231.92 in the interbank foreign exchange market.
The benchmark KSE-100 index witnessed a volatile session as investors opted to remain sideways. Main board volumes remained decent although IPPs sector remained in the limelight.
READ MORE: Weekly Review: market to stay range bound on inflation concerns
Sectors contributing to the performance include Technology (+70.5 points), Power (+54.4 points), E&P’s (+23.9 points), Leather & Tanneries (+9.8 points) and Textile (+8.2 points).
Volumes increased from 118.5million shares to 156.6million shares (+32.1 per cent DoD). Average traded value also increased by 69.1 per cent to reach US$ 27.9million as against US$ 16.5million.
Stocks that contributed significantly to the volumes are TRG, KEL, HUBC, CNERGY and HASCOL.
READ MORE: Pakistan stocks end up 123 points in range bound activity
