The benchmark KSE-100 Index close at 42,726.06 points
\n KARACHI
\nPakistan Stock Exchange (PSX) made minor gains in a range-bound session on Tuesday after touching its lowest level since December 2020 a day earlier, with the benchmark KSE-100 Index gaining 58.74 points (+0.14 percent) to close at 42,726.06 points.
\nThe market opened on a positive note and remained in the green territory for most part of the session. The continuous depreciation of the rupee against the US dollar kept the investors at bay and they preferred to go for profit-taking whenever the market surged.
\nAccording to Topline Securities, the market witnessed a range-bound activity on the backdrop of media reports regarding Prime Minister Shehbaz Sharif\u2019s address to the nation. Investors opted to stay on the side line ahead of the aforesaid address as it was expected that the prime minister might announce some tough decisions while taking the nation into confidence to curtail deterioration on the macro front, it added. Moreover, the pending decision of the coalition government whether to carry on with the current setup or call general elections also kept investors cautious.
\nAccording to experts, Pakistan\u2019s tentative talks with the International Monetary Fund (IMF) in Doha on Wednesday to revive the stalled multibillion-dollar loan programme gave some support to the market. They said the country is desperately in need for the revival of the programme to avoid increasing the risk of defaulting on international payments, specifically on imports and foreign debt repayments.
\nThe KSE-100 Index moved in a range of 276.71 points, showing an intraday high of 42,883.86 and a low of 42,607.15 points. Among other indices, the KSE All Share Index gained 37.02 points (+0.13 percent) to close at 29,104.75 points, while KMI All Share Islamic Index shed 9.64 points (-0.05 percent) to close at 20,912.63 points.
\nA total of 345 companies traded shares in the stock exchange compared to 351 a session earlier. Out of traded companies, shares of 189 closed up, shares of 128 closed down while shares of 28 companies remained unchanged. Out of 93 traded companies in the KSE-100 Index, 51 closed up, 37 closed down and five remained unchanged.
\nThe overall market volumes decreased by 52.53 million to 197.92 million shares. Total volumes traded for the KSE-100 Index decreased by 38.35 million to 97.15 million shares. The number of total trades decreased by 32,536 to 86,763, while the value traded decreased by Rs2.73 billion to Rs6.18 billion. Overall market capitalisation increased by Rs9.01 billion.
\nAmong scrips, WTL topped the volumes with 21.95 million shares, followed by CNERGY (15.47 million) and LOTCHEM (11.48 million). Stocks that contributed significantly to the volumes included WTL, CNERGY, LOTCHEM, PRL, and TREET, which formed around 36 percent of total volumes.
\nIn terms of rupee, SFL remained the top gainer for the second straight day and witnessed an increase of Rs64.11 (+6.64 percent) per share, closing at Rs1,029. The runner-up remained MEHT, the share price of which climbed up by Rs51.8 (+6.25 percent) to Rs880. SAPT remained the top loser in terms of rupee and witnessed a decrease of Rs81.8 (-7.49 percent) per share, closing at Rs1,010.2, followed by SCL, the share price of which fell by Rs20.99 (-7.29 percent) to close at Rs267.01 per share.
\nThe sectors taking the index towards north were commercial banks (31 points), technology & communication (31 points), fertilizer (18 points), engineering and investment banks\/ investment companies\/ securities companies (13 points each). The most points added to the index were by TRG (18 points), UBL (16 points), HBL and FFC (14 points each) and DAWH (13 points).
\nThe sectors taking the index towards south were cement (39 points), power generation & distribution (16 points), textile composite (7 points), sugar & allied industries (5 points) and oil & gas exploration companies (4 points). The most points taken off the index were by LUCK (18 points), HUBC (17 points), MLCF (9 points), FCCL (8 points) and FATIMA (7 points). <\/p>\n","protected":false},"excerpt":{"rendered":"
The benchmark KSE-100 Index close at 42,726.06 points KARACHI Pakistan Stock Exchange (PSX) made minor gains in a range-bound session on Tuesday after touching its lowest level since December 2020 a day earlier, with the benchmark KSE-100 Index gaining 58.74 points (+0.14 percent) to close at 42,726.06 points. The market opened on a positive note […]<\/p>\n","protected":false},"author":2,"featured_media":254263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[325,205,7369],"class_list":{"0":"post-261104","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-kse","9":"tag-psx","10":"tag-range-bound"},"yoast_head":"\n