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KARACHI: Pakistan Stock Exchange Monday witnessed a mixed trend and closed in negative zone as the investors opted to book profit at available margins.

The benchmark KSE-100 Index hit 46,969.46 points intraday high and 46,428.95 points intraday low level before closing at 46,539.59 points, down 61.95 points or 0.13 percent.

Trading activity remained low as total daily volumes on ready counter decreased to 255.608 million shares as compared to 365.789 million shares traded on previous session while total daily traded value on ready counter increased to Rs 9.644 billion against previous session’s Rs 9.130 billion.

BRIndex100 inched up by 1.23 points or 0.03 percent to close at 4,711.98 points with total daily turnover of 232.687 million shares.

BRIndex30 declined by 245.08 points or 1.37 percent to close at 17,661.67 points with total daily trading volumes of 152.156 million shares.

Foreign investors remained net buyers of shares worth $420,367. Total market capitalization increased by Rs 7 billion to Rs 7.764 trillion. Out of total 336 active scrips, 199 closed in negative and 107 in positive while the value of 30 stocks remained unchanged.

G3 Technologies was the volume leader with 21.233 million shares however lost Rs 0.50 to close at Rs 11.70 followed by Cnergyico PK that closed at Rs 6.49, down Rs 0.23 with 17.787 million shares. WorldCall Telecom fell by Rs 0.07 to close at Rs 1.85 with 15.457 million shares. OGDC surged by Rs 5.97 to close at Rs 87.86 with 14.234 million shares.

Rafhan Maize and Colgate Palmolive were the top gainers increasing by Rs 100.00 and Rs 27.77 respectively to close at Rs 11,450.00 and Rs 2,250.00 while Sapphire Fiber and Gatron Industries were the top losers declining by Rs 58.78 and Rs 32.49 respectively to close at Rs 901.00 and Rs 462.50.

Neelam Naz at JS Global Capital said that the market, after touching an intraday high of 46,970 points, eventually lost ground to profit taking and closed at 46,539, losing 62 points compared to the previous session. Total traded volume declined to 255 million shares where GTECH (down 4.1 percent), CNERGY (down 3.4 percent), WTL (down 3.6 percent), OGDC (up 7.3 percent) and GGL (down 4.8 percent) were the volume leaders.

Main index draggers were EPCL, ENGRO, UBL, HMB and LUCK. OGDC and PPL remained in limelight on rumors of a hefty dividend expectation.

BR Automobile Assembler Index lost 21.83 points or 0.22 percent to close at 9,769.92 points with total turnover of 854,420 shares.

BR Cement Index decreased by 52.42 points or 0.97 percent to close at 5,377.35 points with 20.327 million shares.

BR Commercial Banks Index declined by 113.22 points or 1.09 percent to close at 10,272.04 points with 8.778 million shares.

BR Power Generation and Distribution Index gained 32.78 points or 0.55 percent to close at 5,993.41 points with 9.311 million shares.

BR Oil and Gas Index surged by 126.91 points or 3.32 percent to close at 3,948.66 points with 31.348 million shares.

BR Tech. & Comm. Index closed at 3,866.13 points, down 54.43 points or 1.39 percent with 40.328 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower on investor concerns over rupee instability.

He said uncertainty over terms of the IMF deal for resumption of EFF and concerns over circular debt crises played a catalyst role in bearish close.

Copyright Business Recorder, 2022

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