Karachi: Pakistan Stock Exchange (PSX) KSE-100 index endured mixed session and KSE-100 Index closed almost flat after oscillating in red and green zones. Lack of progress on International Monetary Fund (IMF) bailout kept investors on sidelines. At close, KSE-100 Index settled at 39,804.71, decrease of 31.19 points or 0.08 percent. Cement space closed with gains while banks and fertiliser saw massive losses. Automobile, chemical and oil segments ended day on mixed note. “Volumes remained flat across board as result of investors’ lack of engagement, primarily a consequence of delayed IMF talks for 9th tranche of Extended Fund Facility.”

Sectors dragging benchmark KSE-100 lower included banking (24.17 points), fertiliser (16.25 points) and power generation and distribution (8.98 points). Volume on all-share index dropped to 59.7 million from 105.9 million on Monday while value of shares traded fell to Rs 1.4 billion from Rs 1.8 billion recorded in previous session. K-Electric Limited was volume leader with 9.3 million shares followed by WorldCall Telecom with 7.1 million shares and Maple Leaf Cement with 3.1 million shares.

Shares of 288 companies were traded on Tuesday of which 108 registered an increase, 159 recorded fall and 21 remained unchanged.

Report from Arif Habib Limited stated, “Benchmark KSE-100 index opened in green but struggled to hold its position as bourse traded in both directions and eventually concluded in negative territory.”

Published in The Daily National Courier, April, 12 2023

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