KSE-100 gains over 80 points after another volatile session

• KSE-100 index edges up 87.61 points to settle at 45,731.70.
• Shares of 336 companies were traded during the session.
• Overall trading volumes rose to 274.6 million shares.

KARACHI: The benchmark KSE-100 index rebounded on Tuesday and posted a gain of 88 points owing to uncertainty in international oil prices coupled with hopes of easing geopolitical situation.

The index shot up at the beginning of trading, however, investors started booking profit soon after and most of the gains were eroded by noon. The index turned largely range-bound towards the end of trading. Nevertheless, optimism helped the bourse end the day with some gains.

At the close, the benchmark KSE-100 index edged up 87.61 points, or 0.19%, to settle at 45,731.70 points.

Arif Habib Limited in its post-market commentary noted the market witnessed range-bound activity today due to mounting international oil prices.

The index opened on positive note at the start of trading session and managed to close positive with 87 points.

The brokerage house noted that Hubco remained under pressure due to disappointing financial result. Meanwhile, in the banking sector, Askari Bank made the journey to lower circuit due to no payout in the financial result. 

“Main board activity remained dull,” it said.

Sectors contributing to the performance included fertiliser (+31.3 points), technology (+31.1 points), automobile (+18.6 points), cement (14.4 points) and investment banks (+10.8 points).

Shares of 336 companies were traded during the session. At the close of trading, 200 scrips closed in the green, 118 in the red, and 18 remained unchanged.

Overall trading volumes rose to 274.6 million shares compared with Monday’s tally of 187.8 million. The value of shares traded during the day was Rs6.75 billion.

WorldCall Telecom Limited was the volume leader with 91.89 million shares traded, losing Rs0.09 to close at Rs1.96. It was followed by K-Electric with 22.71 million shares traded, gaining Rs0.11 to close at Rs3.53, and Telecard Limited with 10.11 million shares traded, gaining Rs0.54 to close at Rs16.86.