PSX surge under control in flat trading session

KARACHI: After surging on the first day of the week, the Pakistan Stock Exchange (PSX) remained flat on Tuesday in range-bound trading session.

The KSE 100 index surged by 179.37 points as trading resumed reaching the highest mark in intra-day trading at 37,928.87 points. The indices slipped by 271.41 points reaching the lowest level at 37,368.52 points. The bourse eventually settled with a gain of 49.74 points at 37,700.31 points. The total volume of shares was 277.055 million valued at Rs15.425 billion.

The lower bench KSE 30 index gained 79.02 points and closed at 16,368.24 points. The total volume of scripts was 173.239 million. The KMI 30 index declined 216.24 points and closed at 60,579.29, while All-Share Index also dropped by 40.58 points and closed at 26,845.38 points.

The market leader was TRG Pakistan (TRG 0.13%) which traded 28.642 million shares. This was followed by Hascol Petroleum (HASCOL -1.93%) which saw a decline in share prices after reporting a loss last week.

This was followed by Hum Network (HUMNL 9.50%), Fauji Cement (FCCL 1.17%), and Hub Power Company (HUBC 6.04%). The firms traded 17.503 million, 17.493 million, and 15.729 million respectively.

The sector contributing the most to the KSE 100 index was the power generation and distribution sector (113.65 points), while the Mutual Funds sector saw the largest change in market capitalization (6.47%).

On the economic front, current account balance which had turned positive in May 2020 was once again reported as negative for June and was recorded at USD $96 million. Previously, the Current Account Balance was recorded at $981 million for June 2019.