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KARACHI: Pakistan Stock Exchange on Thursday witnessed range-bound session due to depreciating Pak Rupee against US Dollar and delayed 10th review of IMF programme.

The market opened in the positive zone however, failed to continue this momentum and selling pressure in various sectors forced the market to close in red.

The benchmark KSE-100 index hit 43,104.52 points intra-day high and 42,774.86 points intra-day low level before closing at 42,819.72 points, down 164.03 points or 0.38 percent.

Total daily trading volumes on ready counter stood at 181.226 million shares as compared to 186.709 million shares traded on Wednesday while total daily traded value on ready counter declined to Rs 6.159 billion against previous session’s Rs 6.663 billion.

BRIndex100 lost 19.87 points or 0.46 percent to close at 4,319.87 points with total daily turnover of 142.407 million shares.

BRIndex30 declined by 179.69 points or 1.09 percent to close at 16,279.44 points with total daily trading volumes of 83.132 million shares.

The foreign investors however remained net buyers of shares worth $274,327. Total market capitalization declined by Rs 32 billion to Rs 6.836 trillion. Out of total 346 active scrips, 221 closed in negative and 103 in positive while the value of 22 stocks remained unchanged.

BankIslami Pak was the volume leader with 17.130 million shares and gained Re 0.69 to close at Rs 13.92 followed by Unity Foods that lost Re 0.99 to close at Rs 17.37 with 11.590 million shares. Telecard Limited closed at Rs 10.19, up Re 0.12 with 11.545 million shares.

Sapphire Fiber and Sapphire Textile were the top gainers increasing by Rs 80.31 and Rs 76.85 respectively to close at Rs 1153.31 and Rs 1102.18 while Rafhan Maize and Nestle Pakistan were the top losers declining by Rs 350.00 and Rs 145.00 respectively to close at Rs 9650.01 and Rs 5755.00.

An analyst at Arif Habib Limited said the market witnessed another range-bound session. The market opened in the positive zone however, due to the rupee-dollar parity and delayed 10th review of the IMF Programme snapped investors’ confidence resulting in the KSE-100 index losing 214.38 points at the intraday low and closing in the red. Investor participation remained slow while third tier scrips generated the most volumes.

Sectors contributing to the performance include Technology & Communication (down 28.0 points), Oil & Gas Marketing Companies (down 27.1 points), E&P (down 25.2 points), Food & Personal Care Products (down 18.8 points) and Vanaspati & Allied Industries (down 12.6 points).

BR Automobile Assembler Index declined by 70.7 points or 0.79 percent to close at 8,921.32 points with total turnover of 3.285 million shares.

BR Cement Index gained 8.14 points or 0.18 percent to close at 4,490.67 points with 8.264 million shares.

BR Commercial Banks Index lost 9.18 points or 0.11 percent to close at 8,490.67 points with 30.088 million shares.

BR Power Generation and Distribution Index inched up by 24.36 points or 0.35 percent to close at 6,957.63 points 14.275 million shares.

BR Oil and Gas Index fell by 34.84 points or 0.89 percent to close at 3,897.91 points with 16.292 million shares.

BR Tech. & Comm. Index decreased by 40.67 points or 0.86 percent to close at 4,714.54 points with 40.503 million shares.

Mubashir Anis Naviwala at JS Global Capital said the bourse remained under pressure throughout the day due to lack of positive triggers. Investors preferred to book profits with profit taking witnessed across the board as the benchmark KSE-100 closed at 42,819 points, losing 164 points.

Traded volume stood at 181 million shares with BIPL (up 5.2 percent), UNITY (down 5.4 percent), TELE (up 1.2 percent), GCIL (down 7.5 percent) and WTL (down 2.7 percent) being the highest contributors.

Copyright Business Recorder, 2022

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