Wednesday Jan 12, 2022
KARACHI: Trading activity remained lacklustre at the Pakistan Stock Exchange (PSX) on Wednesday, where the index traded in a narrow band virtually closing flat as late selling wiped out early gains.
The KSE-100 index opened up but it soon entered the red zone and started losing ground after mid-day. The range-bound session had a dull activity amid the uncertainty due to rising COVID-19 cases and monetary policy announcement due on Friday.
Interest was seen in the exploration and production sector, however, profit-taking in other sectors prevented the index from staying in the green zone.
At the close, the benchmark KSE-100 index gained 35.12 points, or 0.08%, to close at 45,916.25 points.
A report from Arif Habib Limited noted the market opened on a positive note today and managed to remain positive during the day.
“The KSE-100 index went up to 339 points and closed 35.12 points although activity remained ranged bound today with sluggish activity,” the report said, adding that profit-taking was witnessed once again today across the board.
Sectors contributing to the performance included exploration and production (+53.4 points), fertiliser (+21.1 points), textile composite (+10.6 points), power (+10.1 points) and investment banks (+5.4 points).
Shares of 377 companies were traded during the session. At the close of trading, 176 scrips closed in the green, 169 in the red, and 32 remained unchanged.
Overall trading volumes surged to 514.38 million shares compared with Tuesday’s tally of 339.10 million. The value of shares traded during the day was Rs10.60 billion.
WorldBank Telecom Limited was the volume leader with 133.90 million shares traded, gaining Rs0.10 to close at Rs2.53. It was followed by Unity Foods with 39.14 million shares traded, gaining Rs0.15 to close at Rs2.85, and Hascol Petroleum with 23.43 million shares traded, gaining Rs0.18 to close at Rs6.91.