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KARACHI: Pakistan Stock Exchange Friday witnessed a mixed trend and remained oscillating between positive and negative due to investors’ lack of interest following their concerns over prevailing political situation in the country.

The market managed to close in green territory due to buying in certain scrips at the fag end.

The benchmark KSE-100 Index hit 43,686.35 points intraday high and 43,375.38 points intraday low level before closing at 43,551.15 points with marginal gain of 28.60 points or 0.07 percent.

Trading activity improved as daily volumes on ready counter increased to 161.935 million shares as compared to 149.788 million shares traded on Thursday however, total daily traded value on ready counter declined to Rs 4.146 billion against previous day’s Rs 5.640 billion.

BRIndex100 gained 9.73 points or 0.22 percent to close at 4,352.69 points with total daily turnover of 135.433 million shares.

BRIndex30 inched up by 22.3 points or 0.15 percent to close at 15,399.41 with total daily trading volumes of 98.333 million shares.

Foreign investors remained net buyers of shares worth $649,920. Total market capitalization increased by Rs 12 billion to Rs 7.358 trillion. Out of total 320 active scrips, 162 closed in positive and 130 in negative while the value of 28 stocks remained unchanged.

WorldCall Telecom was the volume leader with 22.173 million shares and gained Rs 0.02 to close at Rs 1.56 followed by Dost Steel that closed at Rs 4.63, up Rs 0.50 with 9.828 million shares. Cnergyico PK inched up by Rs 0.16 to close at Rs 5.25 with 9.406 million shares.

Mehmood Textile and Sapphire Textile were the top gainers increasing by Rs 61.15 and Rs 48.96 respectively to close at Rs 879.00 and Rs 1038.95 while Sapphire Fiber and Rafhan Maize were the top losers declining by Rs 72.67 and Rs 57.00 respectively to close at Rs 896.32 and Rs 11,633.00.

“Another dull day witnessed at PSX,” an analyst at Arif Habib Limited said. In spite of prevailing political noise KSE-100 index managed to remain in green zone throughout the day. Main board activity remained dull. 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 witnessed.

Sectors contributing to the performance include Commercial Banks (up 34.9 points), Fertilizer (up 27.5 points), Automobile Assembler (up 9.14 points) and Inv. Banks (up 6.12 points).

BR Automobile Assembler Index added 48.33 points or 0.55 percent to close at 8,885.75 points with total turnover of 432,641 shares.

BR Cement Index gained 7.6 points or 0.15 percent to close at 5,168.87 points with 8.696 million shares.

BR Commercial Banks Index inched up by 34.04 points or 0.35 percent to close at 9,788.18 points with 9.043 million shares.

BR Power Generation and Distribution Index closed at 5,618.80 points, up 0.77 points or 0.01 percent with 7.957 million shares.

BR Oil and Gas Index lost 22.54 points or 0.6 percent to close at 3,712.57 points with 6.131 million shares.

BR Tech. & Comm. Index decreased by 23.6 points or 0.69 percent to close at 3,384.16 points with 42.153 million shares.

An analyst at Topline Securities said that range bound session was observed at the market as the KSE-100 Index traded between an intraday high of 164 points and intraday low of 147 points to finally settle at 43,551 level, up 0.07 percent.

Major contribution to the index came from LUCK, HBL, MEBL, MTL and EFERT, as they cumulatively contributed 109 points to the index, on the flip side SYS, POL, UBL, CHCC and OGDC weigh down the index by 64 points.

Copyright Business Recorder, 2022

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