KARACHI: Stock trading remained range-bound on Tuesday amid mounting international oil prices, according to Arif Habib Ltd.
Yet the benchmark index managed to close in the green zone at the end of the session. The share of Hub Power Company Ltd (Hubco) faced pressure owing to a disappointing result announcement. Similarly, the share price of Askari Bank Ltd also hit the lower circuit after the lender announced its quarterly result without a payout.
As a result, the KSE-100 index gained 87.61 points or 0.19 per cent on a day-on-day basis to close at 45,731.70 points.
The trading volume increased 46.2pc to 274.6 million shares while the traded value went up 13.7pc to $38.4m on a day-on-day basis.
Sectors that contributed the highest number of points to the benchmark index included fertiliser (31.27 points), technology and communication (31.12 points), automobile assembling (18.57 points), cement (14.4 points) and investment banking (10.83 points).
Stocks contributing significantly to the traded volume included WorldCall Telecom Ltd (91.89m shares), K-Electric Ltd (22.71m shares), TeleCard Ltd (10.11m shares), TPL Properties Ltd (9.73m shares) and TRG Pakistan Ltd (8.85m shares).
Shares contributing positively to the index included Engro Corporation Ltd (22.03 points), TRG Pakistan Ltd (19.41 points), Avanceon Ltd (17.66 points), Millat Tractors Ltd (15.65 points) and Allied Bank Ltd (12.23 points).
Stocks that took away the maximum number of points from the index included Hubco (45.41 points), Pakistan Petroleum Ltd (20.11 points), Askari Bank Ltd (15.72 points), Habib Bank Ltd (10.34 points) and Meezan Bank Ltd (9.59 points).
Stocks recording the biggest increases in percentage terms on a day-on-day basis were Avanceon Ltd (6.75pc), Shakarganj Ltd (5.23pc), Allied Bank Ltd (3.37pc), K-Electric Ltd (3.22pc) and Maple Leaf Cement Factory Ltd (3.09pc).
Foreign investors were net sellers as they offloaded shares worth $0.74m.
Published in Dawn, February 16th, 2022