KARACHI: Pakistan Stock Exchange on Friday witnessed a mixed trend and after moving both ways, closed on a negative note with low trading volumes due to investors’ lack of interest.
The benchmark KSE-100 Index hit 47,853.55 points intraday high and 47,570.31 points intraday low before closing at 47,671.22 points, down 79.55 points or 0.17 percent. Trading activity remained low as daily volumes on the ready counter decreased to 192.036 million shares as compared to 251.691 million shares traded on Thursday. The daily traded value on ready counter declined to Rs 6.528 billion against previous session’s Rs 12.798 billion.
BRIndex100 lost 19.27 points or 0.4 percent to close at 4,816.50 points with total daily turnover of 161.452 million shares.
BRIndex30 decreased by 146.7 points or 0.86 percent to close at 16,935.94 points with total daily trading volumes of 109.204 million shares. Foreign investors also remained net sellers of shares worth $84,994. Total market capitalization declined by Rs 14 billion to Rs 7.091 trillion. Out of total 329 active scrips, 204 closed in negative and 100 in positive while the value of 25 stocks remained unchanged. WorldCall Telecom was the volume leader with 17.969 million shares and closed at Rs 1.25, up Rs 0.01 followed by JS Bank that gained Rs 0.21 to close at Rs 6.20 with 16.138 million shares. BankIslami Pak lost Rs 0.57 to close at Rs 14.85 with 12.489 million shares.
Exide Pak and Atlas Battery were the top gainers increasing by Rs 26.02 and Rs 20.54 respectively to close at Rs 372.99 and Rs 294.47 while Unilever Foods and Bata Pak were the top losers declining by Rs 1100.00 and Rs 30.00 respectively to close at Rs 22900.00 and Rs 1730.00.
An analyst at Topline Securities said a rangebound session was observed at the exchange as the index traded between its intraday high of plus 103 points and intraday low of minus 181 points to finally settle at 47,671 level, down by 0.17 percent.
Major positive contribution to the index came from HMB, ENGRO, MEBL, SCBPL and FFC as they cumulatively contributed plus 89 points to the index. On the flip side OGDC, TRG, PPL, BAHL and UPFL lost value to weigh down on the index by minus 89points.
BR Automobile Assembler Index decreased by 43.01 points or 0.48 percent to close at 8,928.91 points with total turnover of 4.885 million shares.
BR Cement Index inched up by 1.8 points or 0.04 percent to close at 4,962.32 points with 8.237 million shares.
BR Commercial Banks Index gained 34.83 points or 0.31 percent to close at 11,326.99 points with 57.731 million shares.
BR Power Generation and Distribution Index lost 17.59 points or 0.19 percent to close at 9,256.61 points with 17.537 million shares.
BR Oil and Gas Index fell by 28.22 points or 0.63 percent to close at 4,444.94 points with 15.497 million shares.
BR Tech. & Comm. Index closed at 3,973.40 points, down 31.11 points or 0.78 percent with 27.170 million shares. Muhammad Waqar Iqbal at JS Global Capital said the KSE-100 Index witnessed a volatile session to close at 47,671 level, down 80 points.
Traded volume stood at 192 million shares with WTL (up 0.8 percent), JSBL (up 3.5 percent), BIPL (down 3.7 percent), BOP (down 5.3 percent) and UNITY (down 0.2 percent) being the highest contributors.
Copyright Business Recorder, 2023
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