Investors stayed away from the market due to uncertain economic conditions, and the benchmark KSE-100 Index saw a tumultuous trading day on Wednesday before finishing modestly up.
The benchmark index fluctuated by 493 points, which was considered range-bound behavior.
The KSE-100 ended the day at 39,972.64, closing with a little gain of 78.59 points, or 0.20 percent.
According to a report from Arif Habib Limited (AHL), main board volumes remained dry but respectable volumes were seen in the stocks on the third tier.
On the business front, PSX and Meezan Bank Limited inked a contract under which PSX, together with the bank, would provide Roshan Digital Account (RDA) clients with a specialized Shariah-compliant trading platform. A statement stated that “this will assist investors who are focused on investing in Shariah certified assets.”
Banking (77.77 points), chemicals (54.83 points), and technology and communication were the sectors that drove the benchmark KSE 100 index higher (27.79 points).
Volume on the all-share index decreased from 131.86 million on Tuesday to 121.58 million. The value of shares traded also decreased from the previous session’s high of Rs4.21 billion to Rs4.15 billion.
With 10.21 million shares, Lotte Chemical led in terms of volume, followed by WorldCall Telecom (9.26 million) and TPL Properties Limited (9.02 million).
On Wednesday, shares of 321 firms were traded; 153 of those shares saw increases, 141 saw decreases, and 27 saw no change.
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