KARACHI: Pakistan Stock Exchange Wednesday witnessed a mixed trend and after moving both ways, closed on slightly positive note on the back of fresh buying in certain stocks.
The benchmark KSE-100 Index hit 40,528.40 points intraday high and 40,290.78 points intraday low before closing at 40,499.34 points, up 51.29 points or 0.13 percent.
Trading activity also improved as daily volumes on ready counter increased to 84.164 million shares as compared to 67.536 million shares traded Tuesday. The daily traded value on ready counter increased to Rs 3.628 billion against previous session’s Rs 2.275 billion.
BRIndex100 gained 5.33 points or 0.13 percent to close at 4,126.81 points with total daily turnover of 64.350 million shares.
BRIndex30 added 43.02 points or 0.29 percent to close at 14,734.01 points with total daily trading volumes of 39.532 million shares.
Foreign investors however remained net sellers of shares worth $521,626. Total market capitalization increased by Rs 6 billion to Rs 6.142 trillion. Out of total 291 active scrips, 165 closed in positive and 104 in negative while the value of 22 stocks remained unchanged.
Silk Bank was the volume leader with 6.401 million shares and gained Rs 0.10 to close at Rs 1.10 followed by WorldCall Telecom that closed at Rs 1.15, down Rs 0.01 with 5.130 million shares. Engro Corp increased by Rs 7.51 to close at Rs 292.66 with 4.278 million shares.
Khyber Textile and Premium Textile were the top gainers increasing by Rs 41.75 and Rs 29.56 respectively to close at Rs 680.00 and Rs 459.99 while Nestle Pakistan and Unilever Foods were the top losers declining by Rs 152.83 and Rs 54.00 respectively to close at Rs 5197.17 and Rs 18000.00.
An analyst at Arif Habib Limited said that the PSX witnessed a mixed trading session. The benchmark KSE-100 index opened in the red territory but traded both directions, as investors chose to be vigilant due to the ongoing political uncertainty. Investors’ involvement remained sluggish throughout the day, as volumes in the main-board dried up while 3rd tier stocks continued to dominate the volume board.
Sectors contributing to the performance include Fertilizer (up 68.3 points), E&P (up 25.7 points), Cement (up 13.8 points), Chemical (up 11.4 points), and Inv. Banks / Inv. Cos. / Securities Cos. (up 9.6 points).
BR Automobile Assembler Index lost 4.89 points or 0.06 percent to close at 7,664.08 points with total turnover of 1.887 million shares.
BR Cement Index gained 13.36 points or 0.35 percent to close at 3,865.61 points with 4.508 million shares.
BR Commercial Banks Index inched up by 20.39 points or 0.25 percent to close at 8,328.90 points with 14.613 million shares.
BR Power Generation and Distribution Index fell by 3.22 points or 0.04 percent to close at 7,214.26 points with 4.427 million shares.
BR Oil and Gas Index added 15.98 points or 0.41 percent to close at 3,951.71 points with 6.571 million shares.
BR Tech. & Comm. Index declined by 85.1 points or 2.03 percent to close at 4,098.96 points with 12.561 million shares.
An analyst at Topline Securities said that Pakistan equities closed slightly positive where the benchmark KSE-100 Index settled at 40,499 level, up 0.13 percent.
The market open negative where initial negativity came from SYS after result announcement where the stock announced 4th quarter 2022 EPS at Rs 5.22 along with DPS of Rs 5.0 lower than expected result let the stock to close 3.52 percent down.
ENGRO, MCB, DAWH, POL and FCEPL closed higher cumulatively added 104 points in the KSE-100 Index.
Copyright Business Recorder, 2023
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