Pakistani Stocks remained range bound on Tuesday as the KSE-100 index finished slightly up with tiny gain of 147.92 points (0.37 per cent) at 40,652.67.
Trading volume further declined to 150.3 million shares today as compared to 181.4 million traded in the previous session, according to PSX website data. The daily traded value increased to Rs 6.336 billion from Rs 6.177 billion in the previous session, the data said.
Some good news from the political-ends helped the stocks to gain at Pakistan Stock Exchange (PSX). The government has assured that businesses would not be closed because of rising COVID-19 all over the country, while the government has made successful negotiations with Tehreek-e-Taliban Pakistan (TTP) in Islamabad.
The market had touched at 40,940 levels during the session, while it remains low at 40,504 points.
“Investors are on the safe site as there is still panic in the market because of the border tension,” said Sani Mahmood, Ex-General Manager PSX. He said that November and December are crucial as the Inter Service Public Relation (ISPR) claimed in its press conference two days back.
The analyst of Taurus Securities said the news flow relating to Pakistan looking forward to repay loan of $2 billion to Saudi Arabia and United Arab Emirates and to secure alternative sources to make up for the outflow so as to retain foreign exchange reserves at their current level of over $12 billion kept investors worried.
Stocks that contributed significantly to the volumes include TRG, BIPL, SNBL, PRL and UNITY, which formed 29% of total volumes.
Stocks that contributed positively to the index include UBL (+51pts), POL (+22pts), PPL (+20pts), MARI (+15pts) and LUCK (+13pts). Stocks that contributed negatively include COLG (-28pts), SYS (-14pts), HUBC (-13pts), FFC (-11pts) and OGDC (-5pts).
