The KSE-100 index remained range bound today

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·        The KSE-100 index remained range bound with low volumes due to concerns regarding upcoming budget and inflationary pressure. Pharma and IT Sector remained in the limelight due to expectation of incentives in the budget. Value buying was observed in the last trading hour which led the index to close in the green zone. Main board activity remained dry whereas significant volumes were observed in the 3rd tier stocks.

·        The Index closed at 42,014.73pts, up by 278.8pts (+0.67% DoD). Sectors contributing to the performance include E&P’s (+64.4pts), Fertilizer (+57.1pts), Automobile (+41.0pts), Technology (+29.2pts) and Chemicals (+27.0pts).

·        Volumes decreased from 235.3mn shares to 115.9mn shares (-50.4% DoD). Average traded value also decreased by 43.9% to reach US$ 15.2mn as against US$ 27.4mn.

·        Stocks that contributed significantly to the volume are TPLP, GTECH, LOTCHEM, HUMNL and HASCOL.

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