Stocks lose ground amid range-bound trading

A range-bound session marked trading at Pakistan Stock Exchange (PSX) on Thursday as investor sentiment remained mixed in the corporate earnings season. Though the KSE-100 index kicked off proceedings on a positive note, it closed with a loss of 361 points. The index touched the intra-day high of 113,477.71 earlier in the day, but the strength proved short-lived, with bears taking over control before midday. Amidst consolidation, the bourse wiped out all the gains and dropped to the intra-day low of 112,540.12 towards the close of trading. At the end of the day, the benchmark KSE-100 index posted a loss of 360.86 points, or 0.32%, and settled at 112,564.08. In its comments, Topline Securities said Pakistan's bourse saw a range-bound session, where the benchmark index swung between the intra-day high of 553 points and low of 385 points. It closed at 112,564, marking a modest decline of 361 points.