KARACHI: Pakistan Stock Exchange Tuesday witnessed a mixed trend and after moving both ways, closed on a negative note due to selling during second half of the session.
The benchmark KSE-100 Index declined by 244.21 points or 0.58 percent and closed at 41,538.72 points. The index hit 42,025.54 points intraday high and 41,522.64 points intraday low.
Trading activity also remained thin as daily volumes on ready counter decreased to 144.168 million shares as compared to 179.118 million shares traded Monday. The daily traded value on ready counter declined to Rs 4.124 billion against previous session’s Rs 5.568 billion.
BRIndex100 lost 25.1 points or 0.6 percent to close at 4,133.98 points with total daily turnover of 113.126 million shares.
BRIndex30 decreased by 41.92 points or 0.29 percent to close at 14,324.81 points with total daily trading volumes of 72.616 million shares.
Foreign investors also were the net sellers of shares worth $380,349. The market capitalization declined by Rs 48 billion to Rs 6.372 trillion. Out of total 327 active scrips, 208 closed in negative and only 91 in positive while the value of 28 stocks remained unchanged.
Hascol Petroleum was the volume leader with 14.363 million shares and gained Rs 0.16 to close at Rs 5.85 followed by TPL Properties that inched up by Rs 0.21 to close at Rs 13.73 with 13.506 million shares. WorldCall Telecom closed at the previous session’s closing level of Rs 1.17 without any change with 12.977 million shares.
Pak Services and Philip Morris Pak were the top gainers increasing by Rs 33.29 and Rs 31.99 respectively to close at Rs 883.29 and Rs 458.64 while Unilever Foods and Rafhan Maize were the top losers declining by Rs 889.00 and Rs 545.00 respectively to close at Rs 22111.00 and Rs 8350.00.
An analyst at Arif Habib Limited said that a mixed session was recorded at the PSX. The market opened in the green after the SBP kept the interest rate unchanged in the MPC meeting held on Monday. Although later stocks tumbled as investors opted to book profits at the end of the day as the index ended in the red shedding net 246.77 points. Investor participation remained sideways as the 3rd tier stocks continued to dominate the volume board.
Sectors contributing to the performance include Cement (down 73.4 points), Technology & Communication (down 52.0 points), Fertilizer (down 42.4 points), Chemical (down 33.3 points) and Food & Personal Care Products (down 23.9 points).
BR Automobile Assembler Index added 44.07 points or 0.57 percent to close at 7,773.91 points with total turnover of 3.526 million shares.
BR Cement Index declined by 90.23 points or 1.94 percent to close at 4,549.51 points with 5.747 million shares.
BR Commercial Banks Index gained 8.48 points or 0.1 percent to close at 8,328.97 points with 17.233 million shares.
BR Power Generation and Distribution Index lost 32.91 points or 0.45 percent to close at 7,299.97 points with 5.696 million shares.
BR Oil and Gas Index inched up by 4.43 points or 0.12 percent to close at 3,847.72 points with 22.806 million shares.
BR Tech. & Comm. Index decreased by 49.37 points or 1.31 percent to close at 3,722.01 points with 27.251 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the market opened on a positive note but eventually lost 244 points to close at 41,539 points. Very low participation by investors was witnessed.
Traded volume stood at 144 million shares where major contribution to total volume came from HASCOL (up 2.8 percent), TPLP (up 1.6 percent), WTL (zero percent), BOP (up 1.4 percent) and MDTL (up 2.7 percent).
Copyright Business Recorder, 2023
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