PSX witnesses mixed trend: BRIndex100 loses 13.68 points

KARACHI: Pakistan Stock Exchange witnessed mixed trend during the outgoing week ended on July 02, as the investors remained cautious and avoided to take fresh positions. BRIndex100 lost 13.68 points on week-on-week basis to close at 5,183.90 points. Average

daily trading volumes stood at 531.193 million shares.

BRIndex30 decreased by 89.1 points to close at 27,105.85 with average daily turnover of 321.185 million shares. KSE-100 index closed at 47,686.18 points, up 82.82 points on week-on-week basis. Average daily trading volumes on ready counter decreased by 10.4 percent and stood at 621.88 million shares as compared to previous week's average of 693.86 million shares. Average daily trading value declined by 4.2 percent to Rs 16.90 billion.

Total market capitalization increased by Rs 44 billion to Rs 8.360 trillion.

An analyst at AKD Securities said the KSE-100 index remained under pressure during the earlier sessions of the week with financial year coming to a close. However, fresh buying 01st Jul'21 onwards and passage of finance bill resulted in a turnaround in a market performance during the last two trading sessions, with KSE-100 closing at 47,686 points, up 0.17 percent on week-on-week basis. Top performers of the market included AGP (up 25.5 percent), SFL (up 10.4 percent), UNITY (up 6.6 percent), ABOT (up 6.0 percent) and MUREB (up 5.6 percent). Meanwhile laggards included GATI (down 23.8 percent), HASCOL (down 22.8 percent), BYCO (down 6.7 percent), CHCC (down 5.2 percent) and SCBPL (down 4.2 percent).

Flow wise, individuals remained the major buyers with a net buy of $13.63 million followed by companies (net buy $13.43 million) while insurance stood on the other side with a net sell of $18.46 million followed by mutual funds (net sell of $10.5 million).

An analyst at JS Global Capital said that the

An analyst at JS Global Capital said that the KSE-100 index closed at 47,686 level, having gained just 83 points over last week's closing. The FATF announced last Friday its decision to keep Pakistan on the grey list until all items on the FATF and APG action plans are met. Furthermore, Pakistan formally signed the agreement for the $4.5 billion three-year facility from ITFC to fund imports.

Copyright Business Recorder, 2021