KARACHI: The stocks ended down by 107 points on Thursday amid trading in range bound activity. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,271 points as against previous day’s closing of 47,377 points.
Analysts at Arif Habib Limited said that after posting an uptick yesterday, the index again traded range bound between +179 points and -202 points.
Market poised for a clear trigger in disregard to the announcement of infrastructure projects by the Prime Minister Imran Khan, which could have impacted stock prices of listed Cement and Steel sectors.
Profit booking was observed across the board except for some blue chip stocks, with nominal price gains.
Ongoing earnings season has so far turned out to show muted response from Investors, especially with respect to earnings of Attock Group where the pertinent stocks gave nominal and temporary upside.
Among scrips, TRG realized total volumes of 19.2 million shares, followed by GGL (15 million) and WTL (11.8 million).
Sectors contributing to the performance include Banks (+46 points), Technology (+40 points), O&GMCs (-29 points), Power (-21 points) and E&P (-19 points).
Volumes declined from 382.6 million shares to 230.2 million shares (-40 per cent DoD). Average traded value also declined by 27 per cent to reach US$ 70.4 million as against US$ 95.8 million.
Stocks that contributed significantly to the volumes include TRG, GGL, WTL, TPLP and BYCO, which formed 29 per cent of total volumes.
Stocks that contributed positively to the index include MEBL (+42 points), TRG (+40 points), BAHL (+14 points), MLCF (+12 points) and HBL (+8 points). Stocks that contributed negatively include HUBC (-20 points), PSO (-17 points), PPL (-14 points), EFERT (-13 points) and LUCK (-12 points).
