Stocks manage modest gains
KARACHI: Stocks remained sideways for most of the session on Thursday but the KSE-100 index managed to close in the green with gains of 72.07 points (0.17 per cent) at 43,065.
The index opened on a positive note and oscillated between the intraday high and low by 212 and 187 points.
Although domestic and international political scene remained mostly serene, investors waited for the announcement of monetary policy due on Friday, which could set the tone of the market. Speculators were the main movers, represented by the overwhelming interest in second-tier stocks.
Among participants, ‘brokers propriety trading’ picked up shares worth $3.44 million and stood out as the most active. Individuals shed some stocks to lessen their positions. Traders said the initial corporate results announcement would have an impact on the mood of the market.
On the global scene, the market was scarcely impressed by reports of US-China trade deal to ease ongoing trade disputes.