Pakistan stock’s market sentiments hurt due to rising inflation and political noise

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· Market remained range bound throughout the day due to concerns over rising inflation and political noise. The benchmark KSE-100 index opened in the positive zone but dull activity was observed. In the last trading hour, profit taking was witnessed across the board which dragged the index in the red zone. Volumes remained dry in the main board although hefty volumes were witnessed in the 3rd tier stocks.

· The Index closed at 43,032.57pts, down by 305.40pts (-0.70% DoD). Sectors contributing to the performance include Power (-142.4pts), Fertilizer (-32.0pts), E&P’s (-28.4pts), Banks (-27.6pts) and Technology (-25.0pts).

· Volumes decreased from 256.5mn shares to 208.1mn shares (-18.9% DoD). Average traded value also decreased by 11.0% to reach US$ 35.5mn as against US$ 39.9mn.

· Stocks that contributed significantly to the volumes are WTL, HASCOL, PIAA, TELE and HUBC.

Courtesy – AHL

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