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Pakistan bourse ends flat in absence of positive triggers


The Pakistan Stock Exchange (PSX). Image: File

KARACHI: After witnessing a volatile session, the Pakistan stocks closed flat on Tuesday in the absence of positive triggers, dealers said.

Ahsan Mehanti at Arif Habib Limited said that the stocks closed flat on renewed concerns over the Covid-19 pandemic in global equities, weak global crude oil prices and rising trade deficit.

“Weak rupee, surging trade and current account deficit and uncertainty over the outcome of IMF [International Monetary Fund] board postponed review played a catalytic role in [the] bearish close.”

The Pakistan Stock Exchange KSE-100 shares Index shed 0.01 per cent, or 6.5 points, to close at 45,881.13 points. The KSE-30 shares index shed 0.12 per cent, or 21.12 points, to close at 18,056.53 points.

As many as 363 scrips were active, of which 183 advanced, 159 declined and 21 remained unchanged. The ready market volumes stood at 339.1 million shares, compared with the turnover of 356.9 million shares in the last trading session.

An analyst at Topline Securities said volatile activity was observed at the exchange, as the index traded between the intraday high of 170 points and the intraday low of 363 points.

“Major contribution to the index came from the Habib Bank Limited, MCB Bank Limited, TRG Pakistan, United Bank Limited and the Engro Fertilizer, as they cumulatively contributed 104 points to the index.”

The companies, which reflected the highest gains included Nestle Pakistan, up Rs140 to close at Rs5,690/share; and Goodluck Industries, up Rs36.54 to close at Rs523.79/share.

The companies that reflected the most losses included Sapphire Fibre, down Rs65 to close at Rs851/share; and Sapphire Textile, down Rs33.8 to close at Rs860.2/share.

The highest volumes were witnessed in WorldCall Telecom with a turnover of 44.67 million shares. The scrip gained 11 paisas to close at Rs2.43/share; followed by Hascol Petroleum with a turnover of 33.12 million shares. It gained 29 paisas to close at Rs6.73/share. Unity Foods remained the third with a turnover of 22.49 million shares. It gained 27 paisas to finish at Rs2.7/share.

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