Profit booking leads to lackluster day at the PSX
Investors were seen booking profits as the PSX continued to hover at the same levels. The KSE100 gained 109 points to reach at 43,306.
The index remained sideways for most of the session. Trading commenced the green but profit booking at higher levels caused the exchange to settle near its starting point. In the absence of any triggers, volumes at the exchange decreased during this session.
Prices were increased across the fuel spectrum which can be seen paving the way for a higher inflation figure for the month of December.
European and Asian stocks continued their upward trend with the former reaching 10-month highs. The Euro currency has also strengthened, rising above $1.22 for the first time in two years
At the closing bell 156 companies had advanced with 210 closing in the red. 21 companies remained unchanged.
Market participation for the KSE100 Index increased to 252M from 405M in the previous session (-38% on d/d basis). Major contribution to total market volume came from TRG, PRL and HASCOL combined for 80M shares out of the total market volume of 433M shares.
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