Stocks resilient amidst profit-taking | Daily News

Stocks resilient amidst profit-taking

Bourse managed to eke a gain overruling the continuation of profit-taking from Tuesday’s session.

Index experienced a V-shaped movement recording its intraday low of 6,032 during mid-day.

Market closed at 6,098 with an advance of merely 2 points, predominantly due to the price gains in JKH & DIAL. Materials sector counters led the turnover for the session closely followed by Capital Goods and Transportation sector making a joint contribution 78%.

Market experienced a net foreign outflow while recording low participation. Despite the Treasury bill auction held yesterday, the secondary market witnessed limited activities with low volumes while the yields creeped up as investors were concerned on the looming uncertainty.

(First Capital Research)