PSX under pressure as index closes down 0.41%

Top positive contribution to the index came from PSX, JVDC, KTML, MTL and NPL.

KARACHI: A range-bound trading session was observed at the exchange, with the index fluctuating within a narrow band before closing at 170,479 points, down 0.41%.

The cautious market activity was largely driven by limited progress in US-Iran peace negotiations this week. Meanwhile, renewed tensions in the region persisted as clashes continued despite the fragile ceasefire established in April, while ongoing hostilities in Lebanon further weighed on investor sentiment.

Top positive contribution to the index came from PSX, JVDC, KTML, MTL and NPL, as they cumulatively contributed 138 points to the index, on the other hand UBL, OGDC, PPL, MCB and MEBL, lost value to weigh down on the index by 476 points.

Traded value wise MLCF (PKR.1.33bn), TRG (PKR.1.02bn), PTC (PKR.992mn), DGKC (PKR.705mn), OGDC (PKR.655mn) and PPL (PKR.635mn) dominated the trading activity.

Traded volume and value for the day stood at 726mn shares and PKR.27bn respectively.