KARACHI: Pakistan Stock Exchange on Wednesday witnessed a mixed trend and after moving both ways, closed on slightly negative note due to investors’ lack of interest.
The benchmark KSE-100 Index crossed 46,000 psychological level to hit 46,035.09 intraday high, however it failed to sustain this level due to selling pressure and dropped into negative zone to hit 45,808.11 points before closing at 45,889.58 points, down 20.89 points or 0.05 percent.
The daily trading volumes on ready counter increased to 129.372 million shares as compared to 117.145 million shares traded on Tuesday. The daily traded value on ready counter declined to Rs 3.639 billion against previous session’s Rs 4.110 billion.
BRIndex100 lost 16.68 points or 0.36 percent to close at 4,582.88 points with total daily turnover of 95.853 million shares.
BRIndex30 decreased by 62.52 points or 0.38 percent to close at 16,280.84 points with total daily trading volumes of 47.195 million shares.
Foreign investors however remained net buyers of shares worth $271,558. Total market capitalization increased by Rs 7 billion to Rs 6.801 trillion. Out of total 314 active scrips, 160 closed in negative and 133 in positive while the value of 21 stocks remained unchanged.
Treet Corp was the volume leader with 17.803 million shares and gained Rs 0.56 to close at Rs 17.12 followed by SEARLR2 lost 0.52 to close at Rs 0.25 with 15.956 million shares. PPL declined by Rs 1.52 to close at Rs 71.62 with 6.149 million shares.
Colgate Palmolive and Reliance Cotton were the top gainers increasing by Rs 92.76 and Rs 25.00 respectively to close at Rs 1405.66 and Rs 600.00 while Bhanero Textile and Mehmood Textile were the top losers declining by Rs 74.25 and Rs 36.10 respectively to close at Rs 915.75 and Rs 460.60.
“Another dull day! Pakistan equities continued its lackluster trend where the KSE 100 Index mostly directionless throughout the trading hours and settled the day at 45,889 (losing 20 points; down 0.05 percent),” an analyst at Topline Securities said.
E&P, Fertilizer and Tech Sectors contributed negatively to the index where investors chose to trim their position into PPL, FFC, SYS, OGDC and TRG as they lost 103 points, cumulatively. COLF, HUBC and UNITY added 113 points by being stars of the day.
BR Automobile Assembler Index gained 52.46 points or 0.58 percent to close at 9,098.62 points with total turnover of 2.615 million shares.
BR Cement Index lost 17.51 points or 0.38 percent to close at 4,617.06 points with 5.192 million shares.
BR Commercial Banks Index inched down by 18.98 points or 0.18 percent to close at 10,704.60 points with 7.471 million shares.
BR Power Generation and Distribution Index increased by 114.27 points or 1.28 percent to close at 9,059.34 points with 11.653 million shares.
BR Oil and Gas Index decreased by 31.96 points or 0.74 percent to close at 4,288.55 points with 13.771 million shares.
BR Tech. & Comm. Index declined by 39.17 points or 1.04 percent to close at 3,720.02 points with 8.397 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the bourse witnessed another lackluster session with KSE-100 Index settling at 45,889, down 21 points, with very low investor participation.
Traded volume stood at 129 million shares where TREET (up 3.4 percent), PPL (down 2.1 percent), WTL (zero percent), UNITY (up 4.2 percent) and NCPL (up 4.0 percent) were the volume leaders.
Copyright Business Recorder, 2023
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