KARACHI: Despite threats from the Pakistan Democratic Movement (PDM) to submit resignations from the assemblies, the KSE-100 index closed positive after gaining 102.25 points on Wednesday.
The market remained choppy throughout the day. The Karachi Share Index (KSE-100) went up by 102.25 points (0.24 percent) after closing at 42,204.03 against the previous closing of 42,101.78 points. The market went up to 42,350.41 points during intra-day trading, while recorded as low as 41,024.19 points.
Trading volume slightly improved to 438.1 million shares today as compared to 409.7 million traded in the previous session, according to PSX website data. The daily traded value increased to Rs 18.9 billion from Rs 18.5 billion in the previous session, the data said.
According to the AKD Securities, the market remained choppy as sentiments were buffeted by potential COVID-19 related restrictions impairing economic activity following National Command and Operation Centre (NCOC) presser today.
He further claimed that this was coupled with heightening political noise in which PDM members deciding to submit resignations from assemblies by Dec 31st to their respective party heads. The market was stable despite all negative news from political circles because of the institutional buying.
In term of volumes, the overall market traded 567 million shares (up 7% DoD) where TRG recorded the highest volumes for the day with 34 million shares traded followed by LOTCHEM (27 million shares traded) and UNITY (26 million shares).
HUBC contributed the most to the index decline (down 0.95%) while TRG provided the biggest boost (up 3.91%) to the benchmark.