– Reversing the early trading loss of 9.32 points or 0.03 percent, the KSE-100 Index gained 14.94 points or 0.04 percent till mid day on Wednesday and reached 33910.40.
Earlier, continuing the bearish momentum due to profit taking, the KSE-100 Index had reached 33886.14 with a loss of 9.32 points or 0.03 percent in the early trading on Wednesday.
The withdrawn of withholding tax exemption on capital gains for foreigners by tax authorities kept market dull. According to market experts, correction continued in oil stocks amid weak outlook of international oil prices. The stocks ended bearish amid late session profit taking in oil stocks, which were being witnessed under-pressure.
Another analyst said stocks were bearish due to profit taking in oil stocks. Falling trend in global commodities impacted the sentiments despite support in blue chip banking stocks. Rising textile sector exports data for Jan ‘15, record earnings in banking and cement sector failed to change bearish sentiments amid thin activity at KSE.
With total traded volume of 12,838,600 shares, Chemicals was the top traded sector. It was followed by Financial Services with a total traded volume of 9,712,000 shares. The top three advancers were Indus Motor Co with price per share 1042.40 (49.63), Colgate Palmolive with price per share of 1850.00 (40.00) and Siemens Pak. share of 1125.00 (25.83).
However, the High and Low were 34017.97 and 33839.03 respectively and the total volume traded in the market was 52,662,070.
