KARACHI: Pakistan Stock Exchange Tuesday witnessed a highly volatile session and despite positive opening, the market closed in red zone due to investors concerns over increasing corona virus cases and fear of local down.
The benchmark KSE-100 Index hit 45,761.21 points intraday high and 45,471.99 points intraday low level to finally close at 45,507.41 points, down 104.79 points or 0.23 percent. Trading activities also remained low as daily volumes on ready counter decreased to 165.136 million shares as compared to 173.497 million shares traded Monday.
BRIndex100 lost 11.09 points or 0.24 percent to close at 4,676.04 points with total daily turnover of 145.733 million shares.
BRIndex30 decreased by 56.89 points or 0.31 percent to close at 18,595.01 points with total daily trading volumes of 99.573 million shares.
Foreign investors also remained net sellers of shares worth $2.247 million. Total market capitalization declined by Rs 19 billion to Rs 7.803 trillion. Out of total 350 active scrips, 199 closed in negative and 129 in positive while the value of 22 stocks remained unchanged.
TRG Pak was the volume leader with 20.687 million shares however lost Rs 0.93 to close at Rs 95.52 followed by WorldCall Telecom that closed at Rs 2.34, down Rs 0.03 with 17.672 million shares.
Unilever Foods and Nestle Pakistan were the top gainers increasing by Rs 409.00 and Rs 90.00 respectively to close at Rs 20899.00 and Rs 5500.00 while Bata Pak and Ismail Industries were the top losers declining by Rs 99.90 and Rs 39.00 respectively to close at Rs 2000.00 and Rs 486.00.
Neelam Naz at JS Global Capital said that rising COVID cases and lack of positive triggers resulted in range bound activity at the bourse. The KSE-100 Index touched an intra-day high and low of 45,758 and 45,469, respectively to eventually close at the level of 45,507.
Major laggards were HUBC, LUCK, BAHL, SCBPL and CHCC while top volume leaders were TRG, WTL, HUBC, TELE, CNERGY.
BR Automobile Assembler Index lost 16.28 points or 0.19 percent to close at 8,681.96 points with total turnover of 533,860 shares.
BR Cement Index declined by 75.03 points or 1.3 percent to close at 5,676.94 points with 5.151 million shares.
BR Commercial Banks Index decreased by 38.02 points or 0.37 percent to close at 10,134.74 points with 9.565 million shares.
BR Power Generation and Distribution Index fell by 50.14 points or 0.83 percent to close at 5,980.32 points with 13.277 million shares.
BR Oil and Gas Index gained 32.48 points or 0.83 percent to close at 3,925.30 points with 11.027 million shares.
BR Tech. & Comm. Index closed at 3,988.49 points, down 16.74 points or 0.42 percent with 62.668 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed lower on weak rupee and concerns for ongoing political noise.
The oil stocks outperformed on surge in global crude oil prices, he said adding that uncertainty over SBP policy announcement next week played a catalyst role in bearish close.
Copyright Business Recorder, 2022