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KARACHI: Pakistan Stock Exchange Thursday witnessed a mixed trend and after moving both ways, closed on a negative note with low trading activity as investors remained cautious on their concerns over prevailing economic and political situation in the country.

The benchmark KSE-100 Index hit 41,481.54 points intraday high and 41,226.95 points intraday low before closing at 41,266.77, down 63.79 points or 0.15 percent.

Trading activity remained thin as total daily volumes on ready counter decreased to 99.950 million shares as compared to 158.102 million shares traded on Wednesday while total daily traded value on ready counter declined to Rs 2.867 billion against previous session’s Rs 6.167 billion.

BRIndex100 lost 7.36 points or 0.18 percent to close at 4,123.14 points with total daily turnover of 79.901 million shares.

BRIndex30 closed at 13,960.42 points, slightly up by 3.99 points or 0.03 percent with total daily trading volumes of 51.854 million shares.

Foreign investors also remained net sellers of shares worth $52,149. Total market capitalization declined by Rs 19 billion to Rs 6.258 trillion. Out of total 303 active scrips, 134 closed in positive and 134 in negative while the value of 35 stocks remained unchanged.

Globe Residency was the volume leader with 10.809 million shares and gained Rs 0.01 to close at Rs 10.02 followed by WorldCall Telecom that closed on previous session’s closing level of Rs 1.18 without any change with 9.751 million shares. Cnergyico PK lost Rs 0.06 to close at Rs 3.13 with 5.281 million shares.

Khyber Textile and Gatron Industries were the top gainers increasing by Rs 41.50 and Rs 30.55 respectively to close at Rs 630.00 and Rs 437.85 while Nestle Pakistan and Murree Brewery were the top losers declining by Rs 350.00 and Rs 18.90 respectively to close at Rs 6540.00 and Rs 280.10.

An analyst at Arif Habib Limited said that a rangebound session was witnessed at the PSX. The KSE-100 Index opened in the green but swung both ways throughout the trading session and eventually closed in the red. Investor’s participation remained sluggish in wake of uncertain speculations regarding the resumption of the IMF program. Volumes remained dull while the 3rd tier equities led the board.

Sectors contributing to the performance include Commercial Banks (down 49.0 points), Food & Personal Care (down 25.0 points), Fertilizers (down 13.9 points), Textiles (down 6.3 points) and Tobacco (down 5.6 points).

BR Automobile Assembler Index gained 37.04 points or 0.5 percent to close at 7,421.76 points with total turnover of 1.005 million shares.

BR Cement Index inched up by 0.77 points or 0.02 percent to close at 4,542.00 points with 12.159 million shares.

BR Commercial Banks Index decreased by 48.78 points or 0.57 percent to close at 8,497.41 points with 5.615 million shares.

BR Power Generation and Distribution Index lost 1.83 points or 0.03 percent to close at 7,249.14 points with 7.246 million shares.

BR Oil and Gas Index closed at 3,743.90 points, up 0.76 points or 0.02 percent with 6.194 million shares.

BR Tech. & Comm. Index added 18.76 points or 0.52 percent to close at 3,651.49 points with 16.597 million shares.

Mubashir Anis Naviwala at JS Global Capital said that the KSE-100 index opened on a positive note but then lost momentum to eventually close 64 points down at 41,267 points. Traded volume stood at 100 million shares where GRR (up 0.1 percent), WTL (zero percent), CNERGY (down 1.9 percent), GATM (down 6.3 percent) and PRL (up 1.5 percent) were the volume leaders.

Copyright Business Recorder, 2023

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