The Karachi stock market closed almost flat on Wednesday. The Pakistan Stock Exchange opened on a positive note but remained volatile throughout the whole session, with the benchmark KSE-100 index losing -9.51, or 0.02 per cent, by the close of the trading session to reach 45908.39.
The benchmark KSE-100 index hiked to the day’s highest 46106.72 points from a lowest of 45857.92, before it flattened with a loss of 9 points at market close as some profit taking was witnessed throughout the day.
Oil sector helped the index with the overall movement of the market. In KSE 100 index only 66.81 million shares were traded with a total worth of nearly Rs 5.58 billion.
A total of 365 companies changed hands where 137 advanced, 209 declined and 19 remained unchanged.
TEXTILE COMPOSITE was the top traded sector with total traded volume of 27,387,440 shares. It was followed by OIL GAS & MARKETING COMPANIES with a total traded volume of 20,447,200 shares and ENGINEERING sector with a total traded volume of 15,782,400.
Azgard Nine was the volume leader with 22.81 million shares, gaining Rs 0.81 to close at Rs 14.36. It was followed by Sui Southern Gas with 16.70 million shares, gaining Rs 0.55 to close at Rs 43.63, Dewan Farooq Motors with 11.13 million shares, losing Rs 1.38 to close at Rs 42.81 and TRG Pak Ltd with 10.03 million shares, losing Rs 0.53 to close at Rs 39.89
Top advancers of the market were:
Top decliners of the market were:
Oil prices firmed on Wednesday to hold near eight-week highs hit in the previous session, on expectations of a rise in shale oil production.
Prices continued to climb in electronic trading late Tuesday, topping $48 a barrel.
On the New York Mercantile Exchange crude futures for August delivery were quoted at $48.85, up 1.17%, while on London’s Intercontinental Exchange, brent oil was cited at $50.77 a barrel.