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KARACHI: Pakistan Stock Exchange Tuesday remained rangebound throughout the day, due to concerns over rising inflation, devaluation of PKR against the USD and losses of flash floods.

The market opened in the positive zone, however failed to continue this trend due to selling in various sectors.

The benchmark KSE-100 Index hit 41,926.63 points intraday high and 41,682.63 points intraday low before closing almost flat at 41,860.36 points, up only 1.06 points.

Daily trading volumes on ready counter increased to 187.263 million shares as compared to 156.803 million shares traded on Monday however total daily traded value on ready counter declined to Rs 4.017 billion against previous day’s Rs 4.368 billion.

BRIndex100 inched up by 4.4 points or 0.11 percent to close at 4,189.35 points with total daily turnover of 125.660 million shares.

BRIndex30 gained 4.63 points or 0.03 percent to close at 15,142.37 points with total daily trading volumes of 78.715 million shares.

Foreign investors remained net sellers of shares worth $1.241 million. Total market capitalization declined by Rs 18 billion to Rs 6.943 trillion. Out of total 335 active scrips, 166 closed in negative and 146 in positive while the value of 23 stocks remained unchanged.

Hascol Petroleum was the volume leader with 46.806 million shares and gained Rs 0.55 to close at Rs 7.09 followed by P.I.A.C. (A) that inched up by Rs 0.59 to close at Rs 4.66 with 10.877 million shares. Fauji Foods closed at Rs 6.80, up Rs 0.20 with 9.347 million shares.

Premium Textile and Sanofi-Aventis were the top gainers increasing by Rs 42.00 and Rs 39.45 respectively to close at Rs 844.00 and Rs 1,100.00 while Sapphire Textile and Pak Tobacco were the top losers declining by Rs 96.45 and Rs 37.72 respectively to close at Rs 1,189.55 and Rs 752.27.

An analyst at Arif Habib Limited said that the market remained rangebound throughout the day, due to concerns over rising inflation number. The benchmark KSE-100 Index opened in the positive zone however, investors’ participation remained sideways due to continuous rupee devaluation against US dollar. Volumes remained dry in the main board although hefty volumes were witnessed in the 3rd tier stocks.

Sectors contributing to the performance include Banks (up 33.1 points), OMCs (up 31.3 points), Technology (up 25.9 points), Automobile (up 10.0 points) and Chemicals (up 10.0 points).

BR Automobile Assembler Index gained 46.06 points or 0.51 percent to close at 9,080.72 points with total turnover of 350,987 shares.

BR Cement Index declined by 51.16 points or 1.13 percent to close at 4,476.78 points with 9.708 million shares.

BR Commercial Banks Index inched up by 30.72 points or 0.35 percent to close at 8,873.10 points with 13.972 million shares.

BR Power Generation and Distribution Index lost 23.01 points or 0.41 percent to close at 5,583.32 points with 7.120 million shares.

BR Oil and Gas Index added 21.84 points or 0.57 percent to close at 3,862.51 points with 53.576 million shares.

BR Tech. & Comm. Index closed at 3,717.45 points, up 28.23 points or 0.77 percent with 17.121 million shares.

Mubashir Anis Naviwala at JS Global Capital said that the bourse witnessed range bound activity where the KSE-100 index moved in a range of 243 points touching a high of 41,927 and a low of 41,684 points.

Traded volume stood at 187 million shares with HASCOL (up 8.4 percent), PIAA (up 14 percent), FFL (up 3.0 percent), CNERGY (up 0.4 percent) and PRL (up 0.1 percent) among the top volume leaders.

Copyright Business Recorder, 2022

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