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Lacklustre activity forces PSX to close flat

It settled lower by 38.95 points at 46,918.52.

KARACHI: Trading activity remained lacklustre at the Pakistan Stock Exchange (PSX) on Monday, where the index traded in a narrow band closing flat as late selling in blue chips wiped out early gains.

The benchmark KSE-100 Index oscillated both ways on Monday, recording its intraday high at 47,087.30 and low at 46,888.95. It settled lower by 38.95 points at 46,918.52.

Among other indices, the KMI-30 Index lost 76.42 points to end at 77,039.36, while the KSE All Share Index closed flat (+18.29 points) at 32,221.05. Shares of 382 companies were traded on Monday, of which 164 registered an increase, 203 recorded a fall, while 15 remained unchanged.

Sectors dragging the benchmark KSE 100 index lower included fertiliser (28.64 points), cement (27.26 points), and refinery (14.84 points). On the results front, Fauji Cement Company Limited announced its FY21 EPS of Rs2.52 as compared to an LPS of (Rs0.04) in the corresponding period last year.

Volume on the all-share index decreased from 464.98 million on Friday to 417.85 million on Monday. The value of shares traded during the session also declined marginally to Rs12.02 billion from Rs12.22 billion on Friday.

TPL Corp Limited was the volume leader with 59.67 million shares, followed by Service Fabrics Limited (R) with 35.74 million shares, and Telecard Limited at 31.01 million shares.