Karachi: Pakistan Stock Exchange (PSX) KSE-100 index witnessed volatile session with benchmark KSE-100 Index ending day flat as investors remained cautious over ongoing uncertain political and economic conditions.

Range-bound activity was witnessed at bourse as benchmark index reached an intraday high of 125 points and low of 82 points. At close, it settled at 39,848.35, loss of 31.54 points or 0.08 percent.

Sectors painting benchmark index in red included, miscellaneous (37.90 points), technology and communication (21.39 points) and investment banking (12.75 points).

Volume on all-share index decreased to 88.7 million from 108.8 million on Wednesday. However, value of shares traded inched up to Rs 3.9 billion from Rs 3.2 billion recorded in previous session.

Telecard Limited was volume leader with 6.21 million shares followed by Pak Elektron with 6.15 million shares and Engro CorpXD with 5.43 million shares. Shares of 286 companies were traded of which 123 registered an increase, 138 recorded fall and 25 remained unchanged.

Report from Arif Habib Limited stated, “Investors opted to remain on sideline on account of impending delay in signing of staff-level agreement between government and International Monetary Fund along with prevailing political uncertainty affecting investors’ confidence.” On economic front, rupee inched up against US dollar and appreciated 0.26 paisa in inter-bank market on Thursday to settle at 283.66.

Published in The Daily National Courier, March, 31 2023

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