KARACHI: Pakistan stocks ended up by 156 points on Wednesday amid mounting political noise.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,351 points from previous day’s closing of 42,195 points, showing a gain of 156 points.
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Analysts at Arif Habib Limited said that the market opened in the negative zone today due to prevailing political noise.
The benchmark KSE-100 index witnessed a range bound session today as investor remained on the side line awaiting for clarity on the political front.
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However, during the last trading hour value buying was observed in the cement sector which helped the index to close in the green zone.
Volumes remained dry in the main board although hefty volumes were witnessed in the 3rd tier stocks
Sectors contributing to the performance include Cements (+75.3 points), Chemicals (+32.3 points), Fertilizers (+23.1 points), Power (+22.9 points) and E&P’s (+18.7 points).
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Volumes decreased from 237.6 million shares to 181.3 million shares (-23.7 per cent DoD). Average traded value also decreased by 1.5 per cent to reach US$ 33.0 million as against US$ 33.4 million.
Stocks that contributed significantly to the volumes are KEL, UNITY, EPCL, FCCL and WTL.
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