Market watch: KSE-100 practice another lifeless session, ends small changed
KARACHI: The KSE 100-share Index endured another lifeless trade event between red and immature zones on Wednesday and sealed small altered compared to a prior day.
At a finish of trading, a benchmark index available an boost of 18.18 points or 0.04% during 50,162.81.
Elixir Securities, in a report, settled Pakistan equities steady a prior opening and sealed another lifeless event small changed.
“Limited institutional activity was seen in index names with a benchmark KSE-100 index recording volumes of only underneath 60 million shares while sell appearance rather softened with many volumes going by consumer and industrial plays,” pronounced researcher Ali Raza.
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Notable names opposite financial, fertilizer and concrete sectors mostly sealed in a red while oil stocks, on a flip side, traded in a immature in line with aloft tellurian wanton prices.
“[We] Expect range-bound trade to continue in a nearby tenure due to default of certain triggers with internal institutions expected stability to lane unfamiliar funds’ activity and trade selectively in index names,” Raza added.
JS Global researcher Arhum Ghous pronounced a marketplace remained flighty on Wednesday as good as it overwhelmed an intra-day high of +204 points and intra-day low of -176 points to finally tighten 18-point adult during 50,163.
“Major grant to a index came from Oil and Gas Development Company (+1.40%), United Bank Limited (+0.81%) and International Steels (+4%) as they cumulatively contributed +69 points to a index,” he said.
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“On a flip side, vital laggards were Hub Power Company (-1.62%), Engro (-1.08%) and National Bank of Pakistan (-2.16%) as they cumulatively contributed -49 points to a index.”
Stocks in a energy era zone mislaid value as conflicts between eccentric energy producers and a supervision held financier attention.
Hubco, Kot Addu Power Company (-0.93%), Lalpir Power (-0.97%) and Nishat Power (-0.11%) from a zone saw a decrease in their batch prices.
A check in environment adult automobile production plants by new players gave a slight boost to a automobile zone where Honda Atlas Cars (+0.31%) and Pak-Suzuki Motor Company (+0.26%) done certain contributions, a researcher said.
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“Moving forward, we design sensitivity to continue in a marketplace and suggest investors to sell on strength.”
Overall, trade volumes rose to 232 million shares compared with Tuesday’s total of 231 million.
Shares of 369 companies were traded. At a finish of a day, 186 bonds sealed aloft and 167 declined while 16 remained unchanged. The value of shares traded during a day was Rs11.3 billion.
Dewan Farooque Spinning was a volume personality with 23.3 million shares, losing Rs1.00 to tighten during Rs9.14. It was followed by Engro Polymer with 21.3 million shares, gaining Rs1.72 to tighten during Rs36.28 and Power Cement (right shares) with 19.7 million shares, losing Rs0.30 to tighten during Rs1.92.
Foreign institutional investors were net buyers of Rs418 million during a trade session, according to information confirmed by a National Clearing Company of Pakistan Limited.
Article source: https://tribune.com.pk/story/1429769/market-watch-kse-100-experiences-another-dull-session-ends-little-changed/