Karachi: Volatility persisted at Pakistan Stock Exchange (PSX), as benchmark KSE-100 ended first trading session of week flat, while volume and value of shares traded improved from last close.

Benchmark index opened session in green, reaching an intraday high at 40,066.33. But later profit-taking was witnessed which pushed index toward an intraday low of 39,840.72. At close, benchmark index settled at 40,000.37, an increase of 58.32 points or 0.15 percent. KSE-100 falls over 500 points owing to IMF programme uncertainty.

Report from Topline Securities stated, “During trading hours, mostly investors opted to remain sideline as market vibes suggest further delay in IMF Staff Level Agreement.”

Sectors pulling benchmark KSE-100 upwards included technology and communication (47.97 points), fertilizer (32.48 points) and commercial banks (6.02 points). Volume on all-share index increased to 64.5 million from 46.7 million on Friday. Value of shares traded improved to Rs 2.5 billion from Rs 1.3 billion recorded in previous session. WorldCall Telecom was volume leader with 5 million shares followed by Meezan BankXD with 4.8 million shares and Telecard Limited with 4.4 million shares. Shares of 298 companies were traded of which 122 registered an increase, 148 recorded fall and 28 remained unchanged.

Published in The Daily National Courier, March, 28 2023

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