KARACHI: Pakistan Stock Exchange Wednesday opened on strong positive note with high trading activities, however failed to sustain the momentum as investors opted to book profits on available margins.
BRIndex100 gained 19.82 points or 0.39 percent to close at 5,152.87 points.
BRIndex100 hit intraday high of 5,180.47 points and intraday low of 5,145.59 points. Volumes stood at 487.104 million shares.
BRIndex30 increased by 237.05 points or 0.94 percent to close at 25,436.65 points with a turnover of 356.710 million shares.
The KSE-100 Index closed at 47,413.46 points, down 6.28 points or 0.01 percent. Trading activity however improved as daily volumes on ready counter increased to 536.640 million shares as compared to 378.832 million shares traded Tuesday.
Foreign investors remained on selling side and withdrew $2.066 million from Pakistan capital market. The market capitalization increased by Rs 17 billion to Rs 8.307 trillion. Out of total 534 active scrips, 307 closed in positive and 207 in negative while the value of 20 stocks remained unchanged.
WorldCall Telecome was the volume leader with 162.288 million shares and gained Rs 0.34 to close at Rs 3.56 followed by Telecard Limited that increased by Rs 1.37 to close at Rs 20.83 with 45.134 million shares. Unilever Foods and Nestle Pakistan were the top gainers increasing by Rs 1359.22 and Rs 85.00 respectively to close at Rs 20,208.22 and Rs 5650.00 while Rafhan Maize and Wyeth Pak were the top losers declining by Rs 299.00 and Rs 52.12 respectively to close at Rs 10200.00 and Rs 1772.00.
BR Automobile Assembler Index decreased by 53.73 points or 0.55 percent to close at 9,727.38 points with total turnover of 2.366 million shares.
BR Cement Index lost 25.6 points or 0.36 percent to close at 6,999.67 points with 11.430 million shares.
BR Commercial Banks Index fell by 29.27 points or 0.31 percent to close at 9,432.28 points with 16.889 million shares.
BR Power Generation and Distribution Index closed at 5,604.11 points, down 10.39 points or 0.19 percent with 7.943 million shares.
BR Oil and Gas Index gained 3.59 points or 0.09 percent to close at 3,947.15 points with 7.112 million shares.
BR Tech. & Comm. Index increased by 88.04 points or 1.83 percent to close at 4,907.92 points with 253.280 million shares.
“After touching an intraday high of 47,629 (up 209 points), the KSE-100 Index fell victim to profit booking and slid to an intraday low of 47,355 (down 65 points) to eventually close flat at 47,413 level,” Maaz Mulla at JS Global Capital said.
WTL (up 10.6 percent), TELE (up 7.0 percent), GGL (up 7.5 percent), HUMNL (up 4.6 percent) and TREET (down 0.3 percent) cumulatively made up 52 percent of the total volume for the day.
Investors’ interest was witnessed in the steel sector where ISL (up 2.2 percent), ASTL (up 2.7 percent), INIL (up 1.6 percent), MUGHAL (up 1.7 percent) and AGHA (up 0.8 percent) gained to close in the green region.
Moreover, TPL(up 7.5 percent) closed at its upper circuit on back of the news that a unit of Pakistan’s TPL Corp plans to raise as much as $500 million through a private real estate investment trust (REIT), marking one of the largest such fundraisings in the nation’s history.
Copyright Business Recorder, 2021