KSE-100 Index retreats: BRIndex100 slips

KARACHI: Pakistan Stock Exchange Tuesday closed on a negative note as investors opted to book profit in various stocks.

BRIndex100 lost 6.97 points or 0.13 percent to close at 5,326.55 points. BRIndex100 hit intraday high of 5,354.63 and intraday low of 5,311.14 points. Volumes stood at 1,140.294 million shares.

BRIndex30 decreased by 125.32 points or 0.45 percent to close at 27,896.76 points with a turnover of 896.591 million shares.

The KSE-100 Index declined by 93.52 points or 0.19 percent to close at 48,632.56 points. Daily trading volumes on ready counter increased to 1,224.569 million shares as compared to 1,217.847 million shares traded Monday.

Foreign investors also remained net sellers of shares worth $451,511. The market capitalization declined by Rs 13 billion to Rs 8.444 trillion. Out of total 403 active scrips, 237 closed in negative and 143 in positive while the value of 23 stocks remained unchanged. K-Electric was the volume leader with 312.971 million shares and gained Rs 0.45 to close at Rs 4.69 followed by WorldCall Telecom that lost Rs 0.26 to close at Rs 3.97 with 147.624 million shares. Wyeth Pak and Indus Motor Co were the top gainers increasing by Rs 39.97 and Rs 27.20 respectively to close at Rs 2196.81 and Rs 1346.23 while Nestle Pakistan and Sanofi-Aventis were the top losers declining by Rs 68.99 and Rs 23.00 respectively to close at Rs 5730.01 and Rs 955.00.

BR Automobile Assembler Index decreased by 85.34 points or 0.86 percent to close at 9,866.83 points with total turnover of 5.314 million shares.

BR Cement Index lost 10.03 points or 0.13 percent to close at 7,795.96 points with 111.298 million shares. BR Commercial Banks Index fell by 40.22 points or 0.42 percent to close at 9,427.51 points with 20.289 million shares.

BR Power Generation and Distribution Index surged by 132.51 points or 2.32 percent to close at 5,844.08 points with 327.409 million shares. BR Oil and Gas Index closed at 4,204.20 points, down 23.16 points or 0.55 percent with 85.841 million shares. BR Tech. & Comm. Index declined by 22.84 points or 0.51 percent to close at 4,428.16 points with 219.230 million shares.

Maaz Mulla at JS Global Capital said that the KSE-100 Index stayed sideways, making a low and high of minus 215 and plus 115 points, respectively. Total traded volume for the day stood at 1.22 billion shares where KEL (up 10.6 percent), WTL (down 6.1 percent), BYCO (up 1.5 percent), HASCOL (up 1.6 percent) and POWER (down 0.8 percent). K-Electric led the volume board as media chatter suggested that the National Transmission and Dispatch Company (NTDC) recently severed additional supply of electricity to Karachi Electric (KE) due to non-payment.

Southern region cement manufacturers have announced to increase cement prices by Rs 20 per bag and consequently, cement sector gained for the day where FLYNG (up 0.8 percent), MLCF (up 0.6 percent) and DGKC (up 1.3 percent) were the major contributors. From the refinery sector ATRL (down 5.1 percent), NRL (down 3.6 percent) and PRL (down 2.7 percent) lost value to close in the red region.

Copyright Business Recorder, 2021