Stocks at PSX gain over 100 points in range-bound session

• Benchmark KSE-100 index settles at 42,351.15 points.
• KSE-100 index increases 155.89 points.
• Shares of 339 companies were traded during the session.

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a range-bound session on Wednesday with the benchmark KSE-100 index crawling up above 100 points. 

The benchmark KSE-100 swung between positive and negative territories, ending the day in the green. 

At close, the benchmark KSE-100 index settled at 42,351.15 points with an increase of 155.89 points or 0.37%.

According to a report by Arif Habib Limited, the market opened in the negative zone today due to prevailing political noise. The benchmark KSE-100 index witnessed a range-bound session today as investors remained on the sideline awaiting for clarity on the political front.

However, during the last trading hour value buying was observed in the cement sector which helped the index to close in the green zone.

"Volumes remained dry on the main board although hefty volumes were witnessed in the third-tier stocks," it noted. 

The Index closed at 42,351.15 points, up by 155.89 points (+0.37% DoD). Sectors contributing to the performance include cement (+75.3 points), chemicals (+32.3 points), fertilisers (+23.1 points), power (+22.9 points) and exploration and production (+18.7 points).

Shares of 339 companies were traded during the session. At the close of trading, 173 scrips closed in the green, 143 in the red, and 23 remained unchanged.

Overall trading volumes rose to 181.26 million shares compared with Tuesday’s tally of 237.67 million. The value of shares traded during the day was Rs7.2 billion.

K-Electric Limited was the volume leader with 15.13 million shares traded, losing Rs0.08 to close at Rs3.26. It was followed by Unity Foods Limited with 10.97 million shares traded, gaining Rs0.66 to close at Rs23.65 and Engro Polymer & Chemicals Limited with 10.26 million shares traded, gaining Rs3.85 to close at Rs62.27.