KARACHI: Range-bound activity on the Pakistan Stock Exchange (PSX) resulted in another lacklustre session on Tuesday.

The benchmark index closed at 45,256 points, down 163 points or 0.36 per cent from a day ago, after reaching an intraday high of 45,517 points (up 0.21pc).

According to Topline Securities, investors’ sentiments remained subdued in the absence of any positive trigger as no progress took place on the front of the International Monetary Fund loan programme. In addition, the notification about the premier intelligence agency’s next chief also arrived after trading hours. Also, there was no update on the Saudi oil deferral payment facility.

On the corporate announcement front, Mari Petroleum Company Ltd posted quarterly earnings per share of Rs68.21, unchanged from a year ago. In addition, International Steels Ltd announced the EPS of Rs6.13, up 377pc from the same quarter of the preceding fiscal year.

Market participation decreased to 69.34 million shares from 165.91m shares a day ago.

Sectors that contributed negatively to the benchmark index included oil and gas exploration (98.71 points), commercial banking (80.40 points), cement (30.52 points), oil and gas marketing (21.46 points) and textile composite (11.92 points).

Stocks that contributed significantly to the traded volume included Hum Netw­ork Ltd (24.88m shares), Ghani Global Holdings Ltd (8.36m shares), Lotte Chemical Pakistan Ltd (8m shares), Unity Foods Ltd (7.36m shares) and TeleCard Ltd (7.35m shares).

Stocks that contributed positively to the index included Meezan Bank Ltd (16.84 points), Systems Ltd (10.31 points), Colgate-Palmolive Pakistan Ltd (10.29 points) IGI Holdings Ltd (7.33 points) and The Hub Power Company Ltd (5.30 points).

Shares that contributed negatively included Mari Petroleum Company Ltd (36.80 points), United Bank Ltd (17.57 points), Oil and Gas Development Company Ltd (16.86 points), Bank Alfalah Ltd (12.50 points) and Habib Bank Ltd (10.97 points).

Published in Dawn, October 27th, 2021

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