Shares at the Pakistan Stock Exchange’s benchmark index lost 360.86 points to close at 112,564.07 levels.

“The local bourse saw a range-bound session, with the benchmark index swinging between an intraday high of 553 points and a low of 385 points. It eventually closed at 112,564 points, marking a modest decline of 361 points (-0.32%),” the Topline Securities said in its market review.

It added that the investor sentiment remained mixed, while MEBL results were in line with market expectations, PSO earnings fell slightly short of industry forecasts due to weaker-than-anticipated gross margins.

The upward movement was driven by LUCK, MCB, BAFL, NBP, and MEBL, which together added 184 points to the index. On the other hand, PPL, ENGRO, and PSO collectively reduced the index by 254 points.

“Overall market activity was strong, with a rise in daily trading volume. A total of 596 million shares were traded, resulting in a turnover of Rs30 billion. BOP led the volume charts, with 79 million shares traded,” it said.

The local bourse experienced a range-bound session on Wednesday, with the benchmark index oscillating between an intraday high of 426 points and a low of 389 points. The index closed at 112,924 points, posting a marginal decline of 85 points (-0.08%).

A total of 688 million shares were traded on Wednesday, with a turnover of Rs 27.8 billion. BOP led the volume charts, with 55.9 million shares changing hands.

Moreover, International Monetary Fund Managing Director Kristalina Georgieva met Prime Minister Shehbaz Sharif during his visit to the United Arab Emirates and assured him of the lender’s support for the government’s decisive actions regarding the programme.

“Wonderful to meet Prime Minister Shehbaz Sharif and his team,” she said in a post.

“I am encouraged by their strong commitment to Pakistan’s IMF-supported reforms and support their decisive actions to pave the way to higher growth and more jobs for Pakistan’s youthful population.”

It merits here mentioning that the IMF team’s visit to the country for a week-long scrutiny of the judicial and regulatory system as part of the ongoing $7 billion Extended Fund Facility to address governance and corruption vulnerabilities.