Stocks falter as investors opt for profit-taking.

KARACHI -- Stocks traded in a narrow range on Wednesday before slipping below the preceding day's close after investors chose to book profits.

Arif Habib Ltd said the benchmark index stayed in the positive zone for the most part of the trading session. Renewed interest was witnessed in the last trading hour following a press conference by the prime minister and his cabinet members. The finance minister hinted at a much-anticipated solution for the resolution of the gas sector's circular debt, which boosted activity in exploration and production stocks.

Healthy volumes were observed as third-tier companies continued dominating the volume board.

As a result, the KSE-100 index settled at 40,758.20 points, down 43.31 points or 0.11 per cent from the preceding session.

The overall trading volume decreased 11.7pc to 189.4 million shares. The traded value went up 6.3pc to $30.6m on a day-on-day basis.

Stocks contributing significantly to the traded volume included K-Electric Ltd (20.4m shares), Pakistan Petroleum Ltd (17.7m shares), Sui Southern Gas Company Ltd (15.1m shares), Oil and Gas Development Company Ltd (12.9m shares) and Sui Northern Gas Pipelines Ltd (8.6m shares).


To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT