KARACHI: A day after attaining the peak at over 40,000 points, the KSE-100 index could add just 19 points (0.1 per cent) on Wednesday to close at 40,050. Although rallying to intra-day high by 181 points, the market succumbed to profit-taking in later hours. “The index consolidated towards the end of the trading due to lack of triggers,” said analysts. Foreign investors sold stocks worth $2.66 million.
Trading volumes increased by 11pc to 240m shares while trading value climbed 24pc to Rs13.2bn over the previous day. Among volume leaders 2nd and 3rd tier names stood out with Deewan group dominating the scene once again with DCL up 0.16pc, KEL down 0.70pc, DSFL dipped 8.26pc and DFML lost 2.31pc emerging as the top contributors to the volume.
As crude oil prices remained near five-week highs on Wednesday, OGDC rose 0.40pc, POL 0.52pc and PPL 0.01pc extended their previous day gains. Attock Refinery (ATRL) and Pakistan Oilfields (POL) up 4.2pc and 0.5pc, respectively, after announcement of their quarterly results.LUCK gained 0.96pc, NATF 5pc and EFUG 2.59pc adding 37 points to the index, while HUBC shed 2.46pc, BAHL 1.57pc and HBL 0.21pc taking away 60 points.
Fertilisers remained buoyant while pharmaceuticals, textile and power staged a mixed performance with SEARL rose 1.17pc, FFC 0.37pc and HUBC down 2.46pc remaining in the spotlight.
