KARACHI: Pakistan Stock Exchange on Thursday witnessed a mixed trend and after moving both ways, closed on slightly positive note with low trading activity.
The benchmark KSE-100 Index hit 60,981.68 points intraday high and 60,428.14 points intraday low before closing at 60,531.27 points, up 29.27 points or 0.05 percent.
Trading activity remained low as daily volumes on ready counter decreased to 467.159 million shares as compared to 692.220 million shares traded on Wednesday while total daily traded value on ready counter declined to Rs 18.752 billion against previous session’s Rs 27.039 billion.
BRIndex100 lost 4.81 points or 0.08 percent to close at 6,181.05 points with total daily turnover of 409.217 million shares.
BRIndex30 gained 79.75 points or 0.37 percent to close at 21,539.13 points with total daily trading volumes of 232.763 million shares.
Foreign investors remained net buyers of shares worth $4.007 million. The market capitalization increased by Rs 11 billion to Rs 8.729 trillion. Out of total 379 active scrips, 212 closed in negative and 148 in positive while the value of 19 stocks remained unchanged.
Fauji Foods was the volume leader with 34.548 million shares and gained Rs 0.54 to close at Rs 9.05 followed by Fauji Fertilizer Bin Qasim that increased by Rs 1.67 to close at Rs 24.00 with 33.025 million shares. WorldCall Telecom lost Rs 0.02 to close at Rs 1.51 with 28.095 million shares.
Unilever Foods and Ismail Industries were the top gainers increasing by Rs 400.00 and Rs 86.78 respectively to close at Rs 22500.00 and Rs 1243.78 while Rafhan Maize and Mari Petroleum were the top losers declining by Rs 191.50 and Rs 42.32 respectively to close at Rs 10100.00 and Rs 1707.73.
An analyst at Topline Securities said that the KSE-100 Index opened on a positive note and made an intraday high of plus 480 points, however skeptical investors came in to book their profits as the index declined to settle at 60,531 level, up by 0.05 percent.
MSCI Semi Annual rebalance was on Thursday. To recall in MSCI semiannual review announced earlier during the month there were no additions and deletion to main MSCI Frontier Index; however in its small cap index AGHA, AGP, PSMC and SAZEW were added, whereas FABL, KOHC, MLCF and SHEL were removed.
Major positive contribution to the index came from MTL, LUCK, HUBC, FFBL and SYS, as they cumulatively added 311 points to the index. On the flip side MCB, ENGRO, UBL, TRG and MARI lost value to weigh down on the index by 254 points.
BR Automobile Assembler Index surged by 629.72 points or 4.77 percent to close at 13,818.93 points with total turnover of 9.516 million shares.
BR Cement Index increased by 140.12 points or 2.16 percent to close at 6,617.07 points with 72.633 million shares.
BR Commercial Banks Index declined by 180.17 points or 1.22 percent to close at 14,604.24 points with 43.980 million shares.
BR Power Generation and Distribution Index plunged by 208.35 points or 1.5 percent to close at 14,059.18 points with 22.156 million shares.
BR Oil and Gas Index lost 29.95 point or 0.56 percent to close at 5,317.19 points with 21.852 million shares.
BR Tech. & Comm. Index fell by 29.63 points or 0.73 percent to close at 4,045.62 points with 64.443 million shares.
Mohammed Waqar Iqbal at JS Global Capital said the bourse witnessed rangebound activity.
Traded volume dropped 225 million to 467 million shares where FFL (up 6.3 percent), FFBL (up 7.5 percent), WTL (down 1.3 percent), FCCL (up 3.3 percent) and DCL (down 0.1 percent) were among the volume leaders.
Copyright Business Recorder, 2023
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