Pakistan Stock Exchange lands in green as benchmark gains 84 points

The Pakistan Stock Exchange (PSX) on Tuesday see-sawed into the green, with the benchmark KSE-100 Index gaining 84 points to close at 42,995, five points shy of the 43K level.

The benchmark KSE-100 Index showed mixed activity throughout the session. It hit a day's low of 42,607 points during intra-day trading, whereas it reached a day's high of 43,117 points near the close.

In all, 144.8 million shares worth Rs6.8 billion changed hands during the session. Of the 342 traded scrips, 153 advanced, 164 declined and 25 remained unchanged.

An Elixir Securities report called the session "range-bound and lackluster".

"The market opened on a dreary note and witnessed extremely low turnover particularly in the early hours as most investors refrained from participation due to lack of direction and any positive triggers in sight," the report read. Subsequently, institutional activity in selected names picked up and helped the market record a turnover of $62m by the end of trading, the report added.

Overall, the chemical sector dominated trading with 19m shares traded, while the cable and electrical goods, and communication sectors followed with 16.4m and 13.2m shares changing hands.

Volumes were led by:

• Pak Elektron: 14.8m shares traded [-2.05pc];

• TRG Pak Ltd: 9.2m shares traded [-1.07pc];

• Agritech Limited: 8.8m shares traded [+14.60pc];

• Dost Steels Ltd: 8.3m shares traded [+5.33pc];

• Fauji Foods Ltd: 6.9m shares traded [+0.15pc].