PSX experiences range-bound trading with a gain of around 71 points

• The benchmark KSE-100 closed with a gain of around 71 points on Wednesday.
• Trading on the Pakistan Stock Exchange (PSX) was range-bound.
• 136 stocks ended the day’s trading in the black, 169 in the red, and 20 were unchanged.

The benchmark KSE-100 closed with a gain of around 71 points on Wednesday, although trading on the Pakistan Stock Exchange (PSX) was range-bound.

The stock market started off in the black, but it quickly gave in to selling pressure. The bulls, however, maintained a firm hold throughout the day, helping to close the market on a high note.

The benchmark KSE-100 index increased by 70.63 points or 0.17 percent to settle at 40,459.70 points.

According to Arif Habib, the ongoing depreciation of the Pakistani rupee versus the US dollar and political upheaval are to blame for the benchmark KSE-100 index’s sideways performance.

Despite value purchasing during the final hour of trading in the exploration and production sector, volumes were low.

Exploration and production (+73.3 points), banks (+29.0 points), OMCs (+15.8 points), electricity (+13.6 points), and technology are among the sectors that have helped the performance (11.8 points).

During the session, shares of 325 firms were exchanged. 136 stocks ended the day’s trading in the black, 169 in the red, and 20 were unchanged.

Compared to Tuesday’s total of 194.86 million shares, the overall trading volume increased to 141.74 million shares. Shares were traded for a total of Rs4.49 billion during the day.

With 13.37 million shares traded and a loss of Rs0.35 to close at Rs17.56, TPL Properties Limited had the highest volume. Worldcall Telecom Limited, with 10.75 million shares traded, gained 0.02 rupees to close at Rs. 1.27, and Cnergyico PK Limited, with 7.95 million shares traded, lost 0.02 rupees to settle at Rs. 5, came in second and third, respectively.

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