PSX ends flat ahead of Eid holidays

benchmark KSE-100 index recorded an increase of 38.93 points

KARACHI: The Pakistan Stock Exchange (PSX) started the trading session today (Monday) on a positive note but failed to hold its ground and ended the last trading session before Eidul Azha holidays flat.

As trading began, the benchmark KSE-100 index surpassed the 48,000-point mark in the first few hours, but the lack of positive news flow erased the gains and the market traded on a flat note after midday.

At close, the benchmark KSE-100 index recorded an increase of 38.93 points, or 0.08%, to settle at 47,873.26. The KSE-100 index sustained the upward momentum and remained positive for the fifth successive session.

Sectors contributing to the performance included miscellaneous (+33 points), oil and gas marketing companies (+29 points), auto (+10 points), cement (-24 points) and technology (-14 points).

Individually, stocks that contributed positively to the index included Pakistan Services (+33 points), Sui Northern Gas Pipelines (+25 points), Meezan Bank (+12 points), Fauji Fertiliser (+11 points) and Sui Southern Gas Company (+8 points).

Volumes remained dull at 321 million shares Overall trading volumes dropped to 321 million shares compared with Friday’s tally of 348.6 million. The value of shares traded during the day was Rs11.9 billion.

Shares of 416 companies were traded. At the end of the day, 226 stocks closed higher, 174 declined and 16 remained unchanged.