KARACHI: Investors of the Pakistan Stock Exchange (PSX) on Thursday witnessed a volatile trading session where the indices traded within a narrow range but managed to put an end in the green zone.
Foreign investors took a U-turn and closed the previous session on Wednesday as net buyers with a net inflow of $0.498 million.
According to latest figures released by the Pakistan Bureau of Statistics, Consumer Price Index (CPI)-based inflation for the month of Oct 2019 clocked at 11pc YoY. Inflation figures were slightly lower than September’s reading of 11.4pc. Price of onions witnessed the highest increase (+131.08pc) followed by gas (+54.84pc). Electricity charges rose 10.44pc compared to Oct 2018, whereas the price of chicken dropped 2.02pc.
The KSE-100 Index took a dip during initial hours and recorded its intraday low at 35,458.10 after losing 195.23 points. The index then swung in both directions, reaching its intraday high at 35,834.24 (+180.91 points). It settled higher by 105.19 points at 35,758.52. The KMI-30 Index gained 42.43 points to close at 58,434.98, while the KSE All Share Index settled accumulated 65.73 points, ending at 25,616.92.
Sectors that pulled the KSE-100 Index lower included cement (-43.35 points), investment banking (-7.82 points) and food and personal care products (-7.56 points). On the other hand, fertiliser sector (+60.13 points), oil & gas marketing sector (+28.51 points) and oil & gas exploration sector (+22.56 points) helped the index close in the green.
The overall volumes declined from 297.64 million in the previous session to 265.94 million. Worldcall Telecom (WTL +14.09pc) maintained its top position on the volume chart, followed by Pak Elektron Limited (PAEL -0.05pc) and Invest Capital Investment Bank Limited (ICIBL +13.75pc). The scripts had traded 45.81 million, 16.72 million and 13.67 million shares, respectively.
The automobile assembling sector gained 2.40pc in its cumulative market capitalization. Indus Motor Company Limited (INDU) was up by +4.99pc, Hinopak Motors Limited (HINO +5.00pc) and Ghandhara Nissan Limited (GHNL) by 3.41pc.
