KARACHI: The stocks have fallen by 105 points on Tuesday owing to rise in coronavirus cases and surge in oil prices in international markets.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,507 points as against previous day’s closing of 45,612 points, showing a decrease of 105 points.
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Analysts at Arif Habib Limited said that the market continued to remain range bound due to uptick in Covid-19 cases and higher international oil prices.
Market opened on a bleak note and stayed dull throughout the day. In Power sector, HUBC remained in the limelight as it announced interim cash dividend of 6.5 per share.
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In the last trading hour, profit taking was witnessed due to upcoming monetary policy and IMF board to meet on January 28. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
Sectors contributing to the performance include Cement (-54.6 points), Commercial Banks (-38.6 points), Power (-26.3 points), Technology (-24.2 points) and Textile Composite (-11.3 points).
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Volumes decreased from 173.5 million shares to 165.1 million shares (-4.8 per cent DoD). Traded value increased by 23.9 per cent to reach US$ 42.9 million as against US$ 34.7 million.
Stocks that contributed significantly to the volumes include TRG, WTL, HUBC, TELE and CNERGY.
