KARACHI: The stock market opened in the negative zone on Wednesday over concerns about the nationwide protests called by the PTI.

According to JS Global, investors vigilantly followed the news on the political front throughput the session. The KSE-100 index made a sharp recovery in late hours from the day’s low of 594 points to 62 points above the preceding close.

The market closed positive because investors opted for value-buying in the second part of the session, said Arif Habib Ltd.

As a result, the KSE-100 index settled at 42,012.66 points, up 62.34 points or 0.15 per cent from a day ago.

The trading volume incre­ased 41.4pc to 240 million shares while the traded value went up 38.6pc to $37.5m on a day-on-day basis.

Stocks contributing significantly to the traded volume included Pakistan Refinery Ltd (21.23m shares), K-Elec­tric Ltd (15.14m shares), WorldCall Telecom Ltd (13.43m shares), Cnergyico PK Ltd (12.76m shares) and Ghani Global Holdings Ltd (10.99m shares).

Sectors that contributed the highest number of points to the benchmark index incl­uded technology and communication (42.58 points), cem­ent (23.97 points), food and personal care (18.68 points), chemical (17.6 points) and refinery (16.84 points).

Shares contributing most positively to the index included TRG Pakistan Ltd (20.87 points), Mari Petro­leum Company Ltd (17.72 points), Pakistan Oilfields Ltd (14.53 points), Unity Foods Ltd (11.65 points) and Systems Ltd (10.75 points).

Stocks that contributed most negatively to the index included Engro Fertilisers Ltd (49.42 points), Fauji Fertiliser Company Ltd (29.04 points), Oil and Gas Development Company Ltd (28.88 points), Pakistan Petr­o­l­­eum Ltd (18.63 points) and MCB Bank Ltd (12.31 points).

Stocks that registered the largest increases in percentage terms were Avanceon Ltd (5.23pc), Pioneer Cem­ent Ltd (4.81pc), IGI Holdings Ltd (4.74pc), Unity Foods Ltd (4.54pc) and Azgard Nine Ltd (4.36pc).

Published in Dawn, May 26th, 2022

Opinion

Editorial

Militancy redux
Updated 12 Aug, 2022

Militancy redux

There is fear and confusion all around, and it is for the state to bring clarity to the situation.
Distorting history
12 Aug, 2022

Distorting history

WHEN history is co-opted by ideologically overzealous elements, expect the facts to die a quick death, and...
Dengue danger
12 Aug, 2022

Dengue danger

WITH rains continuing across most of the country, a dengue outbreak can quickly become a major headache for health...
Khorasani’s killing
11 Aug, 2022

Khorasani’s killing

OMAR Khalid Khorasani, a dreaded TTP ‘commander’, lived by the sword and very much died by the sword. But beyond...
Gross overreaction
Updated 11 Aug, 2022

Gross overreaction

The government has already done considerable damage to itself with its indelicate handling of the situation.
Dadu deaths
11 Aug, 2022

Dadu deaths

DISEASES that are usually mild and preventable in countries with developed healthcare systems often prove to be...