The KSE-100 Index, a key measure of performance on the Pakistan Stock Exchange (PSX), had a volatile day on Tuesday, moving between negative and positive territory before settling down 0.24%.
A lack of economic progress and an inactive International Monetary Fund (IMF) programme dampened investor enthusiasm and KSE-100 Index ended the day down 99.64 points, or 0.24%, at 41,334.69.
The market opened with a surge, but a wave of selling quickly brought it back to even. From here on out, market volatility was extremely high, and ultimately it was down.
The automotive, banking and oil and gas sectors all ended the day in the red, while the cement sector was up.
Economically speaking, the value of the rupee rose for a third straight trading day versus the US dollar, increasing by 0.02% (or Re0.05) to end the day at 277.87.
Miscellaneous (-61.89), Oil & Gas Exploration (-56.0), and Banking (-56.0) all contributed to the benchmark KSE-100 index’s decline (38.37 points).
Since Monday, the volume on the all-share index has dropped from 221.6 million to 160.1 million. Shares worth Rs7.3 billion were traded at the previous session’s close, but only Rs5.3 billion were transacted this time around.
Shares of Telecard Limited (TCARD) were the most actively traded, at 23.59 million, followed by shares of WorldCall Telecom (12.35 million) and Maple Leaf Cement (10.09 million).
On Monday, 322 firms’ stocks were traded, with 141 showing gains, 161 showing losses, and 20 showing no change.
