KARACHI: The Pakistan Stock Exchange (PSX) Wednesday witnessed fluctuation in early trading and added only 13 points to reach 41062 points.
On Tuesday, the stocks observed a volatile session throughout the day as the KSE 100-share index, after making an intra-day high of 232 points and intra-day low of 28 points, closed at 41,049 points, 18 points positive.
This volatility in the market was likely on the back of investor scepticism regarding ongoing political scenario in the country.
On a scrip-wise basis, market momentum was led by HBL with 29 points, NESTLE with 27 points, MTL with 26 points, PPL with 16 points and MARI contributed 15 points to the index respectively. On the other side, stocks that remained in red include MCB that shed 38 points, KTML that eroded 15 points, SNGP that detracted 15 points, HUBC that took away 14 points, and UBL that shed 11 points respectively from the index.
Sector-wise; E&P’s added 56 points amid rising crude prices, food added 30 points with around $1.0m worth of NESTLE exchanging hands, auto assemblers added 28 points with PSMC (up 5%) & MTL (up 2.8%) gaining on the back of buoyant sales expectations; power eroded 24 points weighed down by HUBC, and KEL (Rs5.35, -2.2%) which slipped to a 4-year low.
