Karachi: Pakistan Stock Exchange (PSX) remained in grip of selling pressure and KSE-100 Index fell 0.35 percent amid lackluster activity. Lack of positive triggers restrained market from posting gains, with an update from International Monetary Fund on Pakistan’s budget also irking sentiment.

At end of session, benchmark index was down 145.28 points to close at 41,369.17. KSE-100 ends flat after range-bound session.

Sectors painting benchmark KSE-100 index in red consisted of fertiliser (58.99 points), oil and gas exploration (42.58 points) and cement (31.18 points). Volume on all-share index declined to 149.7 million from 179.6 million on Wednesday, while value of shares traded dropped to Rs 3.6 billion from Rs 3.75 billion recorded in previous session.

TPL Properties was volume leader with 21.7 million shares followed by WorldCall Telecom with 17.5 million shares and BankIslami with 9.4 million shares. Shares of 314 companies were traded of which 77 registered an increase, 213 recorded fall and 24 remained unchanged.

Arif Habib Limited stated in report, “Activity was witnessed all day long as investors opted to book profits”. “Investors participation remained sideways as third tier stocks continued to dominate volume board.”

Report from Capital Stake highlighted, “Indices slipped lower and lower for most part of day while volumes fell from last close.”

Published in The Daily National Courier, June, 16 2023

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