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HomeBusinessTumultuous day at PSX but KSE-100 manages small gain

Tumultuous day at PSX but KSE-100 manages small gain

Market prevented from reporting stratospheric gain by weakening macroeconomic indicators, lack of supportive triggers

The Pakistan Stock Exchange (PSX) saw a tumultuous day but the KSE-100 Index managed to conclude with a small gain of 0.11 percent despite a selling period that erased the majority of the gains.

The market was prevented from reporting a stratospheric gain by weakening macroeconomic indicators and a lack of supportive triggers.

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KSE-100 increased by 45.69 points or 0.11 percent to end the day on Thursday at 40,803.89.

The market had a strong start to the day and continued to rise until mid-day when selling pressure forced it down. The KSE-100 Index however managed to close in the green.

Oil space suffered a selloff and finished the day totally in the red while the automotive, cement and banking sectors concluded with gains.

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Although volumes were strong overall the exploration and production and cement industries continued to command attention. According to a report from Capital Stake, PSX ended Thursday’s turbulent session flat.

 

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