Karachi: Pakistan Stock Exchange (PSX) KSE-100 index witnessed another turbulent session as benchmark KSE-100 Index ended trading session on flat note, while volume and value of shares traded improved from last close. At close, KSE-100 Index settled at 40,246.67, an increase of 41.13 points or 0.10 percent. Profit-taking erodes intra-day gain.

Market reversed its trajectory amid low volumes, an expected development in last few days of Ramadhan month. Automobile, chemical and power generation and distribution closed with gains while cement, commercial banks and oil and gas marketing companies ended day in red.

Sectors pushing KSE-100 Index upwards included banking (34.38 points), power generation and distribution (20.83 points) and cement (18.00 points). Volume on all-share index rose to 94.8 million from 89.2 million on Thursday (market was closed on Friday) while value of shares traded increased to Rs 3.05 billion from Rs 2.76 billion recorded in previous session.

WorldCall Telecom was volume leader with 15.6 million shares followed by Pakistan Aluminium Beverage Cans Limited with 5.1 million shares and Telecard Limited with 4.6 million shares.

Shares of 316 companies were traded on Monday of which 151 registered an increase, 141 recorded fall and 24 remained unchanged.

Report from Topline Securities stated that range-bound session was witnessed at equities. “KSE-100 Index remained mostly directionless,” added report.

Capital Stake noted that indices swayed in both directions at the PSX, while volumes surged from the last close.

Published in The Daily National Courier, April, 18 2023

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