KARACHI
\nPakistan Stock Exchange (PSX) snapped a two-day losing streak on Wednesday, with the KSE-100 Index gaining 87.39 points (+0.19 percent) to close at 46,365.04 points.
\nThe market opened on a positive note but took a dip soon to hit the day\u2019s low within the first hour\u2019s trading. Later, the market remained in the green territory for the rest of the session. However, the market remained range-bound and traded sideways for the third straight session amid a lack of positive triggers and investors remained cautious, eagerly awaiting major market developments.
\nThe rupee extended gains against the US dollar in the interbank and open markets for the 17th consecutive session but the market remained somewhat unaffected, which indicated a lack of confidence among investors in the market.
\nThe benchmark index traded in a range of 210.22 points, showing an intraday high of 46,448.34 points and an intraday low of 46,238.12 points. Among other indices, the KSE All Share Index gained 125.49 points (+0.40 percent) to close at 31,249.99 points, while KMI All Share Islamic Index gained 118.69 points (+0.52 percent) to close at 22,730.75 points.
\nTotal volumes traded for the KSE-100 Index decreased by 3.69 million to 91.94 million shares against 95.63 million shares traded a session earlier. The overall market volumes decreased by 81.55 million shares to 177.50 million shares against 259.05 million shares traded a session earlier.
\nAmong scrips, MLCF topped the volumes with 11.09 million shares, followed by PPL (9.12 million), and WTL (7.1 million). Stocks that contributed significantly to the volumes included MLCF, PPL, WTL, PIAA, and OGDC, which formed over 23 percent of total volumes.
\nA total of 322 companies traded shares in the stock exchange against 327 a session earlier, out of which shares of 171 closed up, shares of 122 closed down while shares of 29 companies remained unchanged. A total of 94 companies traded shares in the KSE-100 Index against 97 in previous session, out of which share price of 60 companies closed up, 28 closed down and six remained unchanged.
\nThe number of total trades decreased by 4,052 to 110,360 from 114,412 a session earlier, while the value traded increased by Rs0.24 billion to Rs6.93 billion as compared to Rs6.69 billion in the previous session.
\nIn terms of rupee, UPFL remained the top gainer with an increase of Rs450 (+2.24 percent) per share, closing at Rs20,550. The runner-up remained PHDL, the share price of which climbed up by Rs15.45 (+6.53 percent) to Rs251.99. NESTLE remained the top loser with a decrease of Rs47.21 (-0.66 percent) per share, closing at Rs7,142.79, followed by PSEL, the share price of which fell by Rs29.85 (-4.08 percent) to close at Rs701.15 per share.
\nThe major sectors taking the index towards north remained oil & gas exploration companies (70 points), cement (36 points), fertilizer (33 points), oil & gas marketing companies (25 points), and power generation & distribution (11 points). The major companies adding points to the index remained OGDC (34 points), PPL (29 points), FFC (23 points), PSO (16 points), and EFERT (13 points).
\nThe sectors taking the index towards south were commercial banks (56 points), technology & communication (28 points), miscellaneous (15 points), investment banks\/ investment companies\/ securities companies (7 points), and refinery (4 points). The major companies depriving the index of points remained SYS (39 points), HBL (38 points), UBL (25 points), PSEL (17 points), and MCB (13 points).<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI Pakistan Stock Exchange (PSX) snapped a two-day losing streak on Wednesday, with the KSE-100 Index gaining 87.39 points (+0.19 percent) to close at 46,365.04 points. The market opened on a positive note but took a dip soon to hit the day\u2019s low within the first hour\u2019s trading. Later, the market remained in the green […]<\/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-358807","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n