KARACHI: Pakistan Stock Exchange on Tuesday remained under pressure and closed in a negative zone due to selling by local and foreign investors.
The benchmark KSE-100 Index fell by 116.02 points or 0.25 percent and closed at 46,277.66 points. The index hit 46,503.82 points intraday high and 46,258.96 points intraday low.
Trading activity however improved as daily volumes on ready counter increased to 259.046 million shares as compared to 195.674 million shares traded on Monday. The daily traded value on ready counter increased to Rs 6.688 billion against previous session’s Rs 5.530 billion.
BRIndex100 lost 15.71 points or 0.34 percent to close at 4,644.25 points with total daily turnover of 230.346 million shares.
BRIndex30 declined by 111.28 points or 0.67 percent to close at 16,545.05 points with total daily trading volumes of 129.799 million shares.
Foreign investors also remained net sellers of shares worth $159,471. Total market capitalization increased by Rs 8 billion to Rs 6.899 trillion. Out of total 328 active scrips, 165 closed in negative and 142 in positive while the value of 21 stocks remained unchanged.
P.I.A. (A) was the volume leader with 39.589 million shares and gained Rs 0.16 to close at Rs 5.54 followed by WorldCall Telecom that inched up by Rs 0.02 to close at Rs 1.15 with 26.122 million shares. K-Electric closed at Rs 1.96, up Rs 0.05 with 11.090 million shares.
Nestle Pakistan and Rafhan Maize were the top gainers increasing by Rs 190.00 and Rs 123.33 respectively to close at Rs 7190.00 and Rs 7990.00 while Allawasaya Textile and Sapphire Fiber were the top losers declining by Rs 100.00 and Rs 85.40 respectively to close at Rs 1460.00 and Rs 1120.25.
Mubashir Anis Naviwala at JS Global Capital said that the bourse witnessed another lackluster session where the benchmark KSE-100 index settled at 46,278, losing 116 points.
Traded volume stood at 259 million shares where PIAA (up 3.0 percent), WTL (up 1.8 percent), KEL (up 2.6 percent), FFL (up 4.0 percent) and CNERGY (up 0.3 percent) were the volume leaders.
BR Automobile Assembler Index declined by 64.04 points or 0.73 percent to close at 8,739.50 points with total turnover of 6.589 million shares.
BR Cement Index gained 21.5 points or 0.45 percent to close at 4,763.83 points with 12.946 million shares.
BR Commercial Banks Index fell by 37.09 points or 0.34 percent to close at 10,796.42 points with 14.749 million shares.
BR Power Generation and Distribution Index inched up by 17.99 points or 0.19 percent to close at 9,334.62 points with 19.499 million shares.
BR Oil and Gas Index decreased by 25.16 points or 0.58 percent to close at 4,327.11 points with 17.075 million shares.
BR Tech. & Comm. Index closed at 3,672.63 points, down 26.29 points or 0.71 percent with 43.153 million shares.
Ahsan Mehanti at Arif Habib Corporation said stocks fell sharply lower amid global equity sell and slump in global crude oil prices.
He said economic uncertainty, high inflation, Government debt crises and concerns for amassing Rs 2.8 trillion gas circular debt played a catalytic role in bearish close.
Copyright Business Recorder, 2023
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