Stocks ends flat in volatile trading

Stocks ends flat in volatile trading

KARACHI: The Pakistan stocks ended flat on Friday owing to an alarming rise in coronavirus cases in the country.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,763.5 points as against previous day’s closing of 45,763.2 points.

Analysts at Arif Habib Limited said that the market continued to remain volatile as Country reported an alarming rise in Covid-19 cases.

The market opened on a bleak note and stayed dull throughout the day even after passing of the mini-budget by the National Assembly as investors remained risk-averse due to rising Covid-19 cases.

In the last trading hour, profit taking was witnessed across the board. Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.

Sectors contributing to the performance include Banks (+43 points), E&Ps (+28 points), Fertilizer (+18 points), Automobile (+10 points) and Chemicals (+10 points).

Volumes decreased from 327.6 million shares to 240.0 million shares (-26.7 per cent DoD). Traded value also decreased by 5.9 per cent to reach US$ 34.6 million as against US$ 36.8 million.

Stocks that contributed significantly to the volumes include UNITYR3, WTL, CNERGY, DSL and UNITY.

Leave a Reply

You have to agree to the comment policy.