KARACHI: Pakistan Stock Exchange witnessed mixed trend during the outgoing week ended on December 15, 2023 as the investors opted to book profit on available margins.
The benchmark KSE-100 index closed at 66,130.02 points, down 93.61 points on week-on-week basis.
Trading activities further improved as average daily volumes on ready counter increased by 22.1 percent to 1,253.31 million shares during this week as compared to previous week’s average of 1,026.12 million shares however average daily traded value on the ready counter declined by 9.8 percent to Rs 30.35 billion during this week against previous week’s Rs 33.63 billion.
BRIndex100 inched up by 6.76 points during this week to close at 6,822.10 points with average daily turnover of 1,071.730 million shares.
BRIndex30 increased by 499.10 points on week-on-week basis to close at 24,748.53 points with average daily trading volumes of 753.215 million shares.
The foreign investors remained net buyers of shares worth $13.117 million during this week. Total market capitalization increased by Rs 45 billion during this week to Rs 9.543 trillion.
“After an impressive two-month run, the KSE-100 index experienced a slight correction, losing 0.14 percent WoW to close at 66,130points”, an analyst at AKD Securities said.
Sector-wise, Automobile, Transport, and Leasing companies were amongst the top performers, up 16.4 percent/10.2 percent/8.2 percent respectively. On the other hand, Leather & Tanneries, Woollen, and Textile weaving were amongst the worst performers with a decline of 2.7 percent/1.2 percent/0.3 percent.
Flow wise, major net selling was recorded by Insurance Companies with a net sell of $5.6million. On the other hand, Foreigners absorbed most of the selling with a net buy of $13.1million.
Company-wise, top performers during the week were PTC (up 45.2 percent), BOP (up 32.6 percent), PIBTL (up 30.0 percent), PAEL (up 22.2 percent) and KEL (up 18.3 percent), while top laggards were HCAR (down 10.5 percent), EFUG (down 9.4 percent), MEBL (down 9.2 percent), GHGL (down 9.1 percent) and NRL (down 8.0 percent).
An analyst at JS Global Capital said that the KSE-100 index closed the week at 66,130 level, down 0.1 percent WoW.
ADTO, however, reported 22 percent WoW increase to 250million shares. This was primarily led by fresh inflows from retailer investors and mutual funds, countering intra-day corrections during the week.
Energy sector remained in the limelight, with positive news flow regarding discoveries, constructive measures taken to reduce build-up of fresh stock of circular debt, ECC approval for special incentives for one of the OGDC operated fields (Jhal Magsi), and the noteworthy OMC M&A deal with Saudi’s Aramco acquiring stake in Go Pakistan.
Copyright Business Recorder, 2023
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