PSX closes range-bound session in green

• Market manages to close with minimal gain of 174.75 points or 0.43%.
• Benchmark KSE-100 index closes at 41,054.68 points.
• Shares of 315 companies were traded during session.

KARACHI: The Pakistan Stock Exchange (PSX) Tuesday witnessed a range-bound session despite negative cues that dented sentiments of other financial markets. 

The stock market opened in the green, however, it soon succumbed to the selling pressure as the bears staged a comeback and held a firm grip during the session. However, the market managed to close with minimal gains. 

At close, the benchmark KSE-100 index closed at 41,054.68 points with a gain of 174.75 points or 0.43%.

According to Arif Habib Limited, the PSX observed a positive session due to the expectations of Pakistan’s exclusion from the grey list of Financial Action Task Force (FATF). 

The KSE-100 index stayed in the green zone as investors opted for value hunting in the oil marketing companies (OMCs), exploration and production and cement sectors. 

The volumes remained sluggish on the main board whereas third-tier stocks witnessed healthy volumes.

Sectors contributing to the performance include Banks (+52.6 points),  exploration and production (+43.2 points), OMCs (+32.1 points), technology (+28.4 points) and fertiliser (+15.6 points).

Shares of 315 companies were traded during the session. At the close of trading, 163 scrips closed in the green, 128 in the red, and 24 remained unchanged.

Overall trading volumes rose to 120.12 million shares compared with Monday’s tally of 163.79 million. The value of shares traded during the day was Rs3.36 billion.

Unity Foods Limited was the volume leader with 8.18 million shares traded, losing Rs0.12 to close at Rs20.05. It was followed by K-Electric Limited with 7.42 million shares traded, gaining Rs0.02 to close at Rs2.57 and Hum Network Limited with 7.27 million shares traded, gaining Rs0.08 to close at Rs7.16.