PSX ends on a downward note ahead of extended holidays

KARACHI: The Pakistan Stock Exchange (PSX) observed a downward trajectory on Thursday and continued range-bound trading on the last session ahead of the extended holidays.

The KSE 100 index marked its intraday high of 34,049 points with an increase of 116.19 points. It then slipped to its intraday low of 33,757.37. The index closed flat with a decline of 96.20 points (0.28%) at 33,836.61 points. The total volume of shares was 96.344 million valued at Rs4.155 billion.

Meanwhile, the KSE 30 index dropped by 47.72 points (0.32%) and closed at 14.747.60  points. The total volume of scripts were 51.768 million at the lower bourse. The KMI 30 index settled at 55,100.70 losing 195.30 points, while KSE All-Share index managed to gain just 10.57 points ending at 24,380.74 points.

Foreign investors remained net sellers for the fourth consecutive session with a net outflow of US$ 0.177 million. Out of total shares traded, 130 advanced and 160 declined, while the share prices of the top active stocks declined.

TRG Pakistan (TRG -0.23%), Hascol Petroleum (HASCOL -2.16%) and Maple Leaf Cement Factory Limited (MLCF -1.96%) were volume leaders of the day. The scripts had 18.38 million shares, 15.26 million shares and 7.17 million shares traded, respectively.

The sectors which pulled the KSE 100 index lower included oil and gas marketing sector (-32.40 points), cement sector (-30.89 points) and banking sector (-26.70 points). The refinery sector lost 1.46 percent from its cumulative market cap

The oil and gas exploration sector (+32.10 points), insurance sector (10.55 points) and food and personal care products sector (+9.78 points) saw increased investment but remained unsuccessful in rescuing the index from red zone.