KARACHI: Pakistan Stock Exchange Monday, the first day of the roll-over week, witnessed a rangebound activity due uncertainty ahead of the IMF Policy Board review and announcement of Monetary Policy Statement by the State Bank of Pakistan.
The benchmark KSE-100 Index hit 45,045.06 points intraday high and 44,796.84 points intraday low level to close at 44,923.91 points, down 94.37 points or 0.21 percent. Trading activity remained low as daily volumes on ready counter decreased to 160.210 million shares as compared to 176.131 million shares traded on previous session.
BRIndex100 lost 11.91 points or 0.26 percent to close at 4,586.59 points with total daily turnover of 134.498 million shares.
BRIndex30 declined by 334.95 points or 1.89 percent to close at 17,409.73 points with total daily trading volumes of 104.889 million shares.
Foreign investors also remained net sellers of shares worth $152,740. Total market capitalization declined by Rs 23 billion to Rs 7.709 trillion. Out of total 325 active scrips, 214 closed in negative and only 96 in positive while the value of 15 stocks remained unchanged.
Cnergyico PK was the volume leader with 25.459 million shares however lost Rs 0.19 to close at Rs 6.18 followed by TRG Pak that declined by Rs 4.01 to close at Rs 80.89 with 21.129 million shares.
Sapphire Textile and Siemens Pak were the top gainers increasing by Rs 75.00 and Rs 21.84 respectively to close at Rs 1124.00 and Rs 660.00 while Unilever Foods and Philip Morris Pak were the top losers declining by Rs 152.00 and Rs 30.00 respectively to close at Rs 20847.00 and Rs 770.00.
An analyst at Arif Habib Limited said that rangebound session was witnessed due to the MPC meeting. Main board activity remained gloomy on the first day of roll-over week. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. In the last trading hour, value buying was observed due to announcement of corporate results.
Sectors contributing to the performance include Technology (down 71.9 points), Cement (down 24.6 points), Commercial Banks (down 17.5 points), Engineering (down 9.1 points) and Inv. Banks (down 6.8 points).
BR Automobile Assembler Index lost 16.68 points or 0.19 percent to close at 8,553.60 points with total turnover of 728,145 shares. BR Cement Index decreased by 39.37 points or 0.7 percent to close at 5,574.60 points with 2.374 million shares.
BR Commercial Banks Index inched down by 15.8 points or 0.16 percent to close at 10,082.54 points with 11.307 million shares.
BR Power Generation and Distribution Index gained 35.34 points or 0.59 percent to close at 6,052.34 points with 9.408 million shares.
BR Oil and Gas Index closed at 3,898.00 points, down 2.13 points or 0.05 percent with 14.770 million shares.
BR Tech. & Comm. Index declined by 76.88 points or 1.99 percent to close at 3,791.49 points with 50.917 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed lower amid slump in global equities and investor concerns for ongoing political noise.
He said uncertainty ahead of IMF policy board review on January 28 and the SBP policy announcement amid surging inflation played a catalyst role in negative close.
Copyright Business Recorder, 2022
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