KARACHI: Pakistan Stock Exchange Tuesday witnessed a mixed trend and after moving both ways, closed on a negative note due to selling on investor concerns over prevailing political situation in the country.
The benchmark KSE-100 Index hit 41,953.50 points intraday high and 41,709.23 points intraday low before closing at 41,816.43 points, down 40.42 points or 0.10 percent.
Trading activity also remained low as daily volumes on ready counter decreased to 185.250 million shares as compared to 289.274 million shares traded Monday, The daily traded value on ready counter declined to Rs 6.743 billion against previous session’s Rs 10.268 billion.
BRIndex100 lost 16.38 points or 0.39 percent to close at 4,198.93 points with total daily turnover of 141.704 million shares.
BRIndex30 decreased to 110.96 points or 0.73 percent to close at 15,145.07 points with total daily trading volumes of 96.188 million shares.
Foreign investors also remained net sellers of shares worth $129,288. The market capitalization declined by Rs 30 billion to Rs 6.377 trillion. Out of total 319 active scrips, 184 closed in negative and 113 in positive while the value of 22 stocks remained unchanged.
Hascol Petroleum was the volume leader with 26.653 million shares and gained Rs 0.21 to close at Rs 6.35 followed by WorldCall Telecom that closed at Rs 1.27, down Rs 0.04 with 13.129 million shares. Ghani Global Holding inched up by Rs 0.61 to close at Rs 11.78 with 13.078 million shares.
Pak Services and Sapphire Textile were the top gainers increasing by Rs 124.81 and Rs 37.91 respectively to close at Rs 1860.00 and Rs 1237.90 while Nestle Pakistan and Sapphire Fiber were the top losers declining by Rs 60.00 and Rs 58.30 respectively to close at Rs 5295.00 and Rs 1037.55.
An analyst at Arif Habib Limited said the PSX witnessed a mixed session. The benchmark KSE-100 Index opened in the green but traded both ways as the index remained choppy throughout the trading period as investors opted to remain cautious on account of the further delay in signing the Staff Level Agreement between the government and IMF along with the prevailing political uncertainty crushing investor confidence. Volumes across the board remained healthy, while the 3rd tier stocks stayed in the limelight.
Sectors contributing to the performance include Food & Personal Care Products (down 11.9 points), Autos (down 5.7 points), Chemicals (down 5.0 points), Cements (down 4.7 points) and Banks (down 4.6 points).
BR Automobile Assembler Index lost 21.81 points or 0.29 percent to close at 7,533.26 points with total turnover of 2.672 million shares.
BR Cement Index decreased by 38.82 points or 0.97 percent to close at 3,960.57 points with 7.706 million shares.
BR Commercial Banks Index inched up by 1.01 points or 0.01 percent to close at 8,349.86 points with 21.287 million shares.
BR Power Generation and Distribution Index gained 20.43 points or 0.28 percent to close at 7,244.18 points with 5.987 million shares.
BR Oil and Gas Index fell by 31.77 points or 0.76 percent to close at 4,148.90 points with 44.415 million shares.
BR Tech. & Comm. Index closed at 4,310.81 points, down 0.9 points or 0.02 percent with 28.325 million shares.
Muhammad Shuja Qureshi at JS Global Capital said that political noise continued to dent investor sentiments and took the market to close in the red at 41,816, losing 40 points.
The KSE-100 Index turnover shrunk to only 69 million shares where HASCOL (up 3.4 percent), WTL (down 3.1 percent), GGL (up 5.5 percent), TELE (down 0.5 percent) and OGDC (down 1.5 percent) were the volume leaders.
Copyright Business Recorder, 2023
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