KARACHI: The Pakistan Stock Exchange Monday witnessed fluctuation in trading and dropped the early gains to reach 39416.83 points level after gaining 27 points till midday.
Last week, the benchmark KSE-100 index remained unchanged at 39,390 points (-0.4 percent WoW) and failed to cross the psychological 40,000 mark. The trading activity enhanced as evident from 23 percent WoW increase in average traded volumes (to 225mn shares/day) and 4 percent WoW increase in average traded value (to $103m/day), with most of the activity tilted towards news flow intensive small or mid cap sectors such as (1) Technology (+4.3 percent WoW), (2) Insurance (+2.1 percent WoW) and (3) Gas Utilities (+0.1 percent WoW) etc. Of the key sectors, (1) Banks (+0.5 percent WoW on unchanged policy rate in the Monetary Policy Statement announced on Saturday) and (2) Autos (+1.3 percent WoW on price hike of 2-3 percent announced by Pak Suzuki) appreciated whereas (1) Oil & Gas (-0.3 percent WoW on volatile crude oil prices), (2) Cements (-1.1 percent WoW on expectations of weak offtake numbers for July-16) witnessed profit taking during the week.
Average daily volumes witnessed a 23 percent increase, with volumes clocking in at 224.9mn shares, on the other hand, average daily values climbed 4 percent, to Rs10.9 billion.
