Stocks Are Managing A Modest Hike In The Range-Bound Sessions
The PSE (Pakistan Stock Exchange) is now moving in a rough patch and a narrow range. The benchmark that was set on last Wednesday shows KSE-100 Index that is closing with modest gains in a lacklustre day.
Amongst other significant developments in the market, Pakistan is managing hard to retain its position on the MSCI EM (Emerging Market). It has skipped making any changes to the Frontier Index.
The MSCI is retaining all the large and mid-cap stocks of Pakistan that include OGDC that stands at 0.27pc, MCBBL that stands at +0.95pc, and HBL, that stands at +2.15pc. In the meantime, Pak Petroleum Limited (PPL) has jumped to 2.03pc, and the MARI (Mari Petroleum Company Limited) has dropped to 2.43pc. Also, the SNGP (Sui Northern Gas Pipe Line Limited) has dipped to 6.90pc in the Small Cap Index in MSCI EM.
The KSE-100 has indicated its intraday that stands at 33,802.87 after profiting for about 199.85 points. The market closed at around 33,693.04 and a higher price at 90.02 points.
Also, the KMI-30 lost to about 67.21 points and settled at 54.593.07, while other shares added up to 58.21 points, settling around at 23,844.77. The ratio of decline now stands at 139 from 153. The overall share market volume decreased to about 219.2 million shares from 224.5 million shares. Many sectors are affected because of this pandemic. It is quite challenging to determine if the share market will rise again this year.