KARACHI: Pakistan stocks ended up on Thursday as political instability kept investors away.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 40,716 points from previous day’s closing of 40,539 points, showing an increase of 177 points.
READ MORE: Pakistan stocks end down in mixed trading session
Analysts at Arif Habib Limited said that another range-bound session was recorded at the PSX during the day.
The benchmark KSE-100 index opened in the green and made an intraday high of 251.44 points and traded in the narrow range throughout the trading session.
READ MORE: KSE-100 Index declines by 185 points in range bound trading
The prevailing political and economic uncertainty kept the investors at bay as volumes in the mainboard decline considerably while 3rd tier stocks continued to dominate the volume board.
READ MORE: Pakistan equities gain 395 points to welcome Year 2023
Sectors contributing to the performance include Fertilizer (+68.9 points), Miscellaneous (+55.9 points), E&P’s (+54.4 points), Technology & Communication (+31.7 points), and Inv. Banks / Inv. Cos. / Securities Cos. (+8.6 points).
READ MORE: Pakistan stocks exhibit dismal performance in 2022
Volumes decreased from 142.9 million shares to 111.8 million shares (-21.8 per cent DoD). The average traded value also decreased by 28.6 per cent to USD 13.6 million as against USD 19.1 million.
Stocks that contributed significantly to the volumes are KEL, CNERGY, BIPL, SNGP and WTL.
