Bulls reined under control as PSX ends flat session

KARACHI: The bulls at the stock market were reined in on Tuesday as the indices ended the session flat after swinging between red and green zones throughout the day.

The indices took a dip within an hour into trade, volumes on the other hand improved from last close. Foreign investors ended previous session as net sellers with a net outflow of US$ 1.66 million.

The benchmark KSE 100 index fell to its intraday low of 34,688.12 points by losing 61.45 points.  It managed to recover its losses and touched its intraday high of 34,855.39 after gaining 105.82 points. The index settled flat by gaining 54.03 points at 34,803.60 points.

The lower bench KSE 30 index nudged just 17.75 points (0.12%) and closed at 15,188.41 points. The total volume of scripts was 92.714 million.

The KMI 30 index lost 6.17 points closing at 55,791.14 while the KSE All share index added 0.35 points ending at 24,852.30.

Out of total scripts traded, 167 advanced and 132 declined. The overall market volumes surged from 222.14 million shares in previous session to 238.21 million shares.

Lotte Chemical (LOTCHEM +7.48%), Jahanghir Siddiqui & Company Limited (JSCL +2.88%) and Pakistan Refinery Limited Right Shares (PRL1 -14.81%) were volume leaders of the day. The scripts had 36.25 million shares, 13.28 million shares and 9.80 million shares traded, respectively.

The sectors that added most points to the KSE 100 index included Banking sector (+61.28 points), Cement sector (+19.76 points) and Pharmaceutical sector (+15.95 points).

United Bank Limited (UBL +31.99%) Lucky Cement Limited (LUCK +29.24 points) and Dawood Hercules Corporation Limited (DAWH +15.14 points) were top point contributors.

The Oil and Gas Exploration sector lost 0.64 percent from its cumulative market capitalization. Mari Petroleum (MARI -0.81%), Pakistan Oilfields Limited (POL -0.86%), Oil and Gas Development Company Limited (OGDC -0.03%) and Pak Petroleum Limited (PPL -1.61%) all closed in red.