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KSE-100: Stocks close flat in range bound session
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KSE-100: Stocks press pause, as profit-taking breaks rally
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PSX: KSE-100 remains above 48,000 points despite volatility
By
Wednesday Jun 02, 2021
A trader can be seen at the Pakistan Stock Exchange (PSX) building in Karachi. Photo: PPI/Files
More than 361.2 million shares had changed hands by the end of the session, with a total worth of nearly Rs16.7 billion.
Stocks of 399 companies were traded, of which 194 gained in value, 186 declined and 19 remained unchanged.
JS Research says the market remained volatile throughout the day.
The Pakistan Stock Exchange (PSX) on Wednesday had a volatile day with the market ending the day at 126 points over 48,000.
The PSX ended the day on a negative note, with the benchmark KSE-100 index losing -64 points, or -0.13%, by the close of the trading session to reach 48,126.
Market watch: Stock market undergoes correction
Benchmark KSE-100 index drops 64.36 points to close at 48,126.90
KARACHI:
The three-day winning streak at the Pakistan Stock Exchange (PSX) came to an end on Wednesday with a slight drop of over 60 points in the benchmark KSE-100 index amid a lack of positive triggers.
The index displayed volatility and moved between intra-day high and low of 95 and 231 points respectively.
Absence of positive cues kept investors cautious throughout the trading session. Profit-booking was noted in cement, exploration and production and fertiliser sectors.
Earlier, taking cue from Tuesday’s performance, stock trading began on a bullish note, but bears soon took over and dominated market proceedings throughout the session.
Business
May 27, 2021
Stocks on Wednesday ended higher on renewed economic hopes, hitting the highest ever turnover of 1.56 billion shares, led by Worldcall Telecom Ltd (WTL) that claimed the lion’s share of trade with 708 million shares, dealers said.
Pakistan Stock Exchange’s (PSX) KSE-100 Shares Index gained 1.11 percent or 511.65 points to close at 46,812.31 points.
Analyst Muhammad Abdul Rafay at Pearl Securities said the benchmark index witnessed a gigantic session registering highest volumes in the history of PSX, where most of the 3rd tier stocks closed at upper circuit breakers including WTL, Hum Network and Pakistan International Airline (PIA).
“Optimism was triggered by the government s projection of even better economic numbers for 4QFY21. Also, investors took cue from the improving fundamentals of business and industrial activities, which further supported the sentiment.”
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