KSE-100 gains 192 points in narrow trade

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KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended with gain of 192 points in a narrow range trade.
The Index closed at 42,924 points as against 42,732 points showing an increase of 192 points.

Analysts at Arif Habib Limited said KSE100 index traded in a narrow range but stayed positive throughout the day barring a slight bit when it went down by 35 points.
Cement, Steel and mid-tier Banks were subject of buying interest but the trading lacked the vigour and intensity.
Clearly, the investors are being cautious as the new incumbents prepare for oath taking ceremony.
Though political uncertainty has disappeared, the investors have narrowed their focus on ongoing result season. By the end of session, trading activity picked up and buying was observed in Cement and Steel sectors.
Sectors contributing to today’s performance include Cement (+96 points), Fertilizer (+64 points), O&GMCs (+31 points), Textile (+27 points), Power (+25 points), Banks (-28 points) and Tobacco (-25 points).
Volumes increased from 191.5 million shares to 205.8 million shares. Average traded value also improved by 14 percent to reach $83.5 million as against $73.2 million.
Stocks that contributed significantly to the volumes include PAEL, LOTCHEM, BOP, SNGP and FCCL reflecting 23 percent of total volumes.

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