The Pakistan Stock Exchange (PSX) continued with range-bound activity in the absence of positive market triggers on Wednesday, with the benchmark KSE-100 Index gaining 10.97 points (+0.02 percent) to close at 47,491.47 points. The market opened on a positive note but moved between green and red zones, finally ending the session positively. The KSE-100 Index traded in a range of 152.5 points, showing an intraday high of 47,594.6 points and a low of 47,442.1 points. Among other indices, the KSE All Share Index shed 50.02 points (-0.15 percent) to close at 32,384.45 points, while All Share Islamic Index shed 10.88 points (-0.05 percent) to close at 23,220.11 points. A total of 403 companies traded shares in the stock exchange, out of them shares of 154 closed up, shares of 226 closed down while shares of 23 companies remained unchanged. The overall market volumes increased by 11.46 million to 508.28 million shares. The number of total trades decreased by 483 to 147,649, and value traded decreased by Rs0.2 billion to Rs16.05 billion. The market cap decreased by Rs12.80 billion. Among scrips, WTL realised trading volumes of 44.5 million shares, followed by GGGL (44 million) and TPL (40.7 million). Stocks that contributed significantly to the volumes include WTL, GGGL, TPL, KEL and TPLP, which formed 33 percent of total volumes. The sectors propping up the index were textile composite with 34 points, automobile assembler with 26 points, investment banks/ investment companies/ securities companies with 19 points, transport with 12 points and cement with 11 points. The most points added to the index were by PSX which contributed 19 points followed by LUCK with 12 points, PIBTL with 12 points, INDU with 12 points and NML with 11 points. The sector wise, the index was let down by technology & communication with 25 points, commercial banks with 24 points, fertilizer with 20 points, food & personal care products with 7 points and oil & gas exploration companies with 5 points. The most points taken off the index were by TRG which stripped the index of 33 points followed by MCB with 28 points, EFERT with 17 points, MARI with 10 points and FFC with 8 points. Analysts at Arif Habib Limited said that the market remained range-bound, oscillating between -38 points and +114 points. They said that large cap blue chip stocks (including ENGRO, POL, LUCK, SYS) kept the index balanced, which was otherwise under selling pressure in E&P, O&GMCs, cement, steel and technology sectors. They said that worsening situation at Afghanistan border and imposition of Covid lockdown in Sindh made the investors rethink portfolio positions, in addition to facing CGT liability to be settled by July 16. They said that Covid positivity ratio remained the major concern for investors as the newly imposed lockdown in Sindh due to increasing positivity ratio smashed investors’ confidence. Besides, increasing price trend in coal and rising US dollar against rupee also derailed investors’ sentiments.