Daily Times

The Pakistan Stock Exchange (PSX) saw a range-bound session on Tuesday, as the benchmark index ended only modestly higher, while volumes remained sparse, following a loss of 1,250 points on Monday.

The closing price of the KSE-100 index on Tuesday was 43,928.08, up 26.03 points, or 0.06 percent, from the previous day’s close.

The KSE-100 index fell 2.8pc the day prior to the meeting as a result of the country’s continuous political unrest.

In a post-market statement, Capital Stake claimed that investors had taken a cautious stance because of the current political crisis in the country.

The benchmark index reached an intraday high of 387 points on Tuesday, following a day of choppy trading. Positive sentiment lasted only a short time before investors began to pull back on their positions. Value-buying in the second hour of trading helped keep the KSE 100 index above the 5,000 mark as a rally in the cement and fertiliser sectors was noticed,” Arif Habib Limited stated in a note. “Across the board profit-taking was observed in the latest trading hour.”

The Pakistani rupee crossed the 185 barrier for the first time to set a new low versus the US dollar, ending at 185.23 in the inter-bank market on Thursday.

The PSX has announced that the Sahulat Account has been streamlined for corporate investors. With merely the submission of a CNIC/SNIC, investors may easily register a Sahulat Account and begin investing up to Rs800,000, according to a press release from the company.

The KSE-100 index gained 18.06 points from banking, 15.01 points from chemical, and 15.01 points from fertiliser (9.00 points).

On Monday, volume on the all-share index was 170.48 million, down from 115.64 million. Traded shares fell to Rs4.58 billion from the previous session’s record high of Rs5.49 billion, according to the latest figures.

There were 12.91 million shares in Telecard Limited, followed by 6.71 million in TPL Properties and 6.52 million in Engro Polymer.

On Tuesday, 302 stocks were traded, with 154 rising, 125 falling, and 23 remaining unchanged.