PSX\u2019s benchmark KSE-100 index fell by 24.96 points or 0.06% to close at 42,348.63 points
\n KARACHI
\nStocks Wednesday lost early gains to close a few notches lower as the anaemic rupee amid insufficient foreign exchange reserves confined investors to the sidelines.
\nPakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Shares Index fell by 24.96 points or 0.06% to close at 42,348.63 points.
\nArif Habib Limited said a range-bound session was witnessed at the PSX.
\n\u201cThe market opened in the green zone but the lack of investors\u2019 participation drove the index down into the red zone and continued to trade in the same zone for most of the trading session,\u201d the brokerage said.
\nAccording to the brokerage\u2019s report, volumes remained dry on the main board; however, decent volumes were recorded in the third-tier stocks.
\nSectors contributing to the performance include commercial banks (-79.9 points), technology and communication (-17.3 points), power generation and distribution (-18.2 points), chemical(-8.2 points), automobile assembler (-6.9 points).
\nVolumes decreased from 139.2 million shares to 120.2 million, down 13.7%, while the average traded value dropped by 7.9% to $20.80 million as against $22.58 million.
\nStocks that contributed significantly to the volumes are WorldCall Telecom, Nishat Chunian Power Limited, Dewan Farooque Motors Limited, K-Electric, TRG Pakistan, and Pakistan International Bulk Terminal.
\nJS Research said going forward, \u201cwe expect range-bound activity to continue and recommend investors to avail any downside as an opportunity to buy in the technology, cement and textile sectors\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
PSX\u2019s benchmark KSE-100 index fell by 24.96 points or 0.06% to close at 42,348.63 points KARACHI Stocks Wednesday lost early gains to close a few notches lower as the anaemic rupee amid insufficient foreign exchange reserves confined investors to the sidelines. Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Shares Index fell by 24.96 points or 0.06% […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-298538","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n