The PSX remained range bound during Thursday’s session. The KSE100 edged up just 101 points to reach 42,305.

The index took off to a positive start and remained in the green for the entire session. During midday the index posted a high of 42,441 however it receded from those levels before close.

The Pakistan Democratic Movement (PDM) continues to pressurize the government with the demand of resignation by the Prime Minister. This has caused a certain cloud of uncertainty in the business environment albeit PM Imran Khan continues to reiterate that the oppositions demands are baseless.

Another NCC meeting was held on Thursday with PM Imran Khan as chair to discuss the ongoing rise of Covid cases in the country. Further lockdowns could really hamper sentiments at the exchange.

Global oil prices were seen to recover over the past few sessions in view of successful vaccines roll outs. The index heavyweight E&P sector could benefit greatly from a further recovery in oil prices.

At the closing bell 188 companies were in the red while 175 scrips advanced. 18 companies remained unchanged.

Market participation for the KSE100 Index increased to 308M from 244M in the previous session (+26% on d/d basis). Major contribution to total market volume came from PIBTL, UNITY and KEL combined for 120M shares out of the total market volume of 472M shares.