KARACHI: Pakistan Stock Exchange Wednesday witnessed a rangebound session and after moving both ways, closed on a negative note.
The benchmark KSE-100 Index hit 41,744.44 points intraday high and 41,448.61 points intraday low before closing at 41,514.45 points, down 24.27 points or 0.06 percent.
The daily trading volumes on ready counter stood at 179.644 million shares as compared to 144.168 million shares traded Tuesday. The daily traded value on ready counter declined to Rs 3.755 billion against previous session’s Rs 4.124 billion.
BRIndex100 lost 6.78 points or 0.16 percent to close at 4,127.20 points with total daily turnover of 145.278 million shares.
BRIndex30 decreased by 62.68 points or 0.44 percent to close at 14,262.13 points with total daily trading volumes of 102.632 million shares. Foreign investors were net buyers of shares worth $115,821. Total market capitalization declined by Rs 7 billion to Rs 6.365 trillion. Out of total 320 active scrips, 162 closed in negative and 131 in positive while the value of 27 stocks remained unchanged.
TPL Properties was the volume leader with 45.794 million shares and gained Rs 0.53 to close at Rs 14.26 followed by Hascol Petroleum that lost Rs 0.14 to close at Rs 5.71 with 22.653 million shares. WorldCall Telecom closed at Rs 1.16, down Rs 0.01 with 19.076 million shares.
Unilever Foods and Colgate Palmolive were the top gainers increasing by Rs 589.00 and Rs 73.07 respectively to close at Rs 22700.00 and Rs 1047.34 while Nestle Pakistan and Pak Tobacco were the top losers declining by Rs 340.00 and Rs 39.90 respectively to close at Rs 6550.00 and Rs 610.10.
An analyst at Arif Habib Limited said that a rangebound session was recorded at the PSX. The market opened in the green and strived with optimism over the resumption of the IMF programme for the long-due 9th review as the Pak rupee continued to gain against the US dollar. Investors remained active for most of the day as robust volumes were recorded in the 3rd-tier stocks.
Sectors contributing to the performance include Technology & Communication (down 27.2 points), Power Generation & Distribution (down 20.4 points), Food & Personal Care Products (down 16.8 points), Fertilizer (down 16.3 points) and Tobacco (down 14.1 points).
BR Automobile Assembler Index increased by 138.79 points or 1.79 percent to close at 7,912.70 points with total turnover of 5.193 million shares.
BR Cement Index inched up by 6.84 points or 0.15 percent to close at 4,556.35 points with 5.868 million shares.
BR Commercial Banks Index gained 14.97 points or 0.18 percent to close at 8,343.94 points with 9.127 million shares.
BR Power Generation and Distribution Index decreased by 43.98 points or 0.6 percent to close at 7,255.99 points with 4.476 million shares.
BR Oil and Gas Index lost 4.86 points or 0.13 percent to close at 3,842.86 points with 33.479 million shares.
BR Tech. & Comm. Index closed at 3,694.66 points, down 27.35 points or 0.73 percent with 33.133 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the market opened on a positive note, but eventually profit-taking wiped gains leading the index to close at 41,514, down 24 points.
Traded volume stood at 180 million shares where TPLP (up 3.9 percent), HASCOL (down 2.4 percent), WTL (down 0.9 percent), DFML (up 9.6 percent) and SHEL (up 7.5 percent) were the volume leaders.
Copyright Business Recorder, 2023
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