KSE-100 snaps two-day losing spell, inches up 0.19%

The Pakistan Stock Exchange (PSX) ended the two-day losing spell and inched up 0.19% in a lacklustre session on Thursday. Trading remained range-bound as investors’ enthusiasm remained low.

As the end of the day, the KSE-100 Index rose 78.58 points or 0.19% to close at 42,085.72.

Trading began on a positive note however, a selling spell dragged the market lower by midday. The index saw renewed buying activity at this point and ascended for the remaining part of the day, closing at a positive note.

KSE-100 extends losses, drops 0.35%

Automobile, banking and fertiliser sectors closed on a mixed note however, cement and oil sectors ended the day with a loss.

A report from Capital Stake stated that the PSX ended a volatile session on Thursday flat.

“Indices oscillated in both directions whereas volumes depreciated from last close,” the report said.

A report from Arif Habib limited said that another range bound session was witnessed at the PSX.

“Despite opening in the green zone the benchmark KSE-100 Index recorded a lacklustre session as investor participation remained low, which caused the volumes to decline sharply,” it said. “The market fluctuated in both directions but ended up in the green as the IT sector remained in the limelight.”

On the economic front, car sales in September 2022 clocked in at 9,213 units compared to 8,980 units in August 2022, as per the figures published by Pakistan Automotive Manufacturers Association (PAMA),.

Rupee depreciated Rs0.5 or 0.23% against the US Dollar to close at Rs218.38.

Sectors lifting the benchmark KSE-100 Index higher, included technology and communication (77.06 points), oil and gas marketing (15.33 points) and refinery (8.04 points).

Volume on the all-share index fell to 222.2 million from 238.7 million on Wednesday. On the other hand, the value of shares traded rose to Rs9.67 billion from Rs7.85 billion recorded in the previous session.

WorldCall Telecom was the volume leader with 50.6 million shares, followed by TRG Pakistan with 23.2 million shares and Pak Refinery with 9.6 million shares

Shares of 341 companies were traded on Thursday, of which 158 registered an increase, 161 recorded a fall, and 22 remained unchanged.