KARACHI: Pakistan Stock Exchange on Tuesday witnessed a range bound session as investors chose to be cautious due to ongoing political and economic worries.
The benchmark KSE-100 index hit 40.990.25 points intra-day high and 40.698.43 points intra-day low level before closing at 40,877.98 points, down 40.47 points or 0.10 percent.
Trading activities remained thin as total daily volumes on ready counter decreased to 142.804 million shares as compared to 195.477 million shares traded on Monday while total daily traded value on ready counter declined to Rs 4.177 billion against previous session’s Rs 5.007 trillion.
BRIndex100 inched up by 7.31 points or 0.18 percent to close at 4,144.68 points with total daily turnover of 126.098 million shares.
BRIndex30 gained 115.63 points or 0.78 percent to close at 14,952.89 points with total daily trading volumes of 75.359 million shares.
The foreign investors also remained net sellers of shares worth $131,349. Total market capitalization declined by Rs 11 billion to Rs 6.235 trillion. Out of total 309 active scrips, 153 closed in negative and 134 in positive while the value of 22 stocks remained unchanged.
WorldCall Telecom was the volume leader with 6.046 million shares and closed at Rs 1.22, up Re 0.01 followed by Cnergyico PK that gained Re 0.10 to close at Rs 3.73 with 4.848 million shares. Unity Foods lost Re 0.04 to close at Rs 14.12 with 4.691 million shares.
Rafhan Maize and Nestle Pakistan were the top gainers increasing by Rs 200.00 and Rs 66.00 respectively to close at Rs 8000.00 and Rs 5181.00 while Pak Services and Sapphire Fiber were the top losers declining by Rs 104.10 and Rs 71.70 respectively to close at Rs 1283.90 and Rs 888.18.
An analyst at Arif Habib Limited said that a range bound session was recorded at the PSX. The market opened in the red zone but traded in both directions as investors chose to be cautious due to ongoing political and economic worries. Investor participation remained dull awaiting clarity on the IMF front, as volumes in the main-board dried up while third tier stocks continued to dominate the volume board.
Sectors contributing to the performance include Miscellaneous (down 55.0 points), Commercial Banks (down 27.4 points), Cement (down 18.6 points) and Paper & Board (down 15.6 points).
BR Automobile Assembler Index gained 12.73 points or 0.17 percent to close at 7,516.74 points with total turnover of 2.474 million shares.
BR Cement Index lost 22.71 points or 0.57 percent to close at 3,965.64 points with 10.433 million shares.
BR Commercial Banks Index fell by 28.6 points or 0.34 percent to close at 8,276.70 points with 9.389 million shares.
BR Power Generation and Distribution Index inched up by 5.02 points or 0.07 percent to close at 7,114.23 points with 3.912 million shares.
BR Oil and Gas Index increased by 50.87 points or 1.29 percent to close at 3,993.26 points with 20.644 million shares.
BR Tech & Comm Index closed at 4,198.14 points, up 12.53 points or 0.3 percent with 18.479 million shares.
“After losing 222 points early in the day, the market found support at 40,697 and managed to close at 40,878, down 40 points,” Muhammad Shuja Qureshi at JS Global Capital said.
Buying in E&P stocks helped the recovery as crude prices rose in the international market. Technology stocks also closed with modest gains. Trading activity remained dull and KSE-100 turnover dropped to 63 million shares.
WTL (up 0.8 percent), CNERGY (up 2.8 percent), UNITY (down 0.3 percent), PAEL (up 1.9 percent) and HASCOL (down 0.3 percent) were the volume leaders.
Copyright Business Recorder, 2023
Comments