KARACHI: The stock market for the second consecutive day closed flat as the KSE-100 index could eke out gains of just 7.35 points (0.02 per cent) but reached new historic high at 40,057 points.
The benchmark index recorded an intra-day high of 200 points, but succumbed to selling pressure from both local and foreign investors towards closing trading hours pulling down the index to close barely in the black.
Foreign investors decided to take profit with sale of stocks worth $9.23 million. Trading volumes declined slightly by 0.6pc to 239m shares, however, trading value rose 16pc to Rs15.4bn, over the previous day.
The day’s laggard was MCB Bank down 2.21pc eroding 40 points from the index. Significant downside contribution also came from DAWH fell 1.26pc and ENGRO 0.55pc taking away 61 points. HUBC fell 0.21pc.