Pakistan Stock Exchange (PSX) witnessed a dull session Tuesday due to investors'' lack of interest. The benchmark KSE-100 index, after moving in negative and positive territory, closed at 49,452.71 points, up 17.82 points.
Trading activity also remained low as daily trading volumes on the ready counter decreased to 237.057 million shares as compared to 302.795 million shares traded Monday. The market capitalization declined by Rs 18 billion to Rs 9.762 trillion. Out of total 392 active scrips, 239 closed in negative, 135 in positive while the value of 18 stocks remained unchanged.
K-Electric was the volume leader with 23.946 million shares. However, the scrip lost Rs 0.04 to close at Rs 9.95 followed by Azgard Nine that lost Rs 0.70 to close at Rs 10.75 with 19.091 million shares. Sui Northern Gas increased by Rs 4.85 to close at Rs 135.29 with 15.305 million shares.
Nestle Pakistan and Millat Tractors were the top gainers with Rs 89.00 and Rs 45.29, respectively to close at Rs 9,100.00 and Rs 1,243.98. Wyeth Pak and Sanofi-Aventis were the top losers with Rs 154.75 and Rs 124.47, respectively to close at Rs 2,940.38 and Rs 2,418.73.
Zeeshan Afzal at Insight Securities said the equities traded directionless with volumes taking no pace, restriction remained in specific stocks with likes of SNGPL and PRL, as former got interest on addition of LNG pipelines coupled with decline in UFG losses, while the latter one hit upper circuit on anticipation of expansion plans. FFBL, up 2.27 percent, rumours of increase in DAP prices developed interest.
Ahsan Mehanti at Arif Habib Corporation said that stocks showed recovery amid support in banking stocks on strong valuations. Trade remained thin on concerns for slump in cement export sales and liquidity crunch of non-compliant brokerage firms. He said concerns for dismal exports and falling global crude prices invited mid-session pressure.
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