KARACHI: After a positive opening on Monday, the Pakistan Stock Exchange closed in negative zone due to selling in various sectors. Investors opted to book profit on available margins.
The benchmark KSE-100 Index hit 66,564.04 points intraday high and 65,129.00 points intraday low before closing at 66,012.33 points, down 211.31 points or 0.32 percent.
The daily volumes on ready counter stood at 1.215 billion shares as compared to 1.329 billion shares traded on last Friday. The daily traded value on the ready counter increased to Rs 33.423 billion against previous session’s Rs 33.377 billion.
BRIndex100 lost 32.15 points or 0.47 percent to close at 6,783.19 points with total daily turnover of 971.155 million shares.
BRIndex30 declined by 251.47 points or 1.04 percent to close at 23,997.96 points with total daily trading volumes of 645.612 million shares.
Foreign investors however remained net buyers of shares worth $3.904 million. The market capitalization declined by Rs 36 billion to Rs 9.462 trillion. Out of total 386 active scrips, 224 closed in negative and 159 in positive while the value of 03 stocks remained unchanged.
K-Electric was the volume leader with 164.643 million shares and gained Rs 0.06 to close at Rs 4.49 followed by WorldCall Telecom that inched up by Rs 0.04 to close at Rs 1.71 with 93.320 million shares. Kohinoor Spinning closed at Rs 4.74, up Rs 0.55 with 65.314 million shares.
Mari Petroleum Company and Sapphire Fibres were the top gainers increasing by Rs 101.41 and Rs 98.27 respectively to close at Rs 2168.82 and Rs 1603.27 while Nestle Pakistan and Rafhan Maize Products Company were the top losers declining by Rs 350.00 and Rs 291.00 respectively to close at Rs 8550.00 and Rs 10,999.00.
“Bulls felt blue after having a massive show of strength since last consecutive six days as the KSE-100 Index closed the trading hours on a negative note to settled at 66,012, down 211 points or 0.32 percent,” an analyst at Topline Securities said.
The day witnessed strong selling headwinds just after the opening bell rang as investors opted to do profit taking across the board which pushed index below 66,000 mark and the benchmark KSE-100 index had an intraday low at 65,129 (down 1,095 points or 1.65 percent.
Power, OMC and Banking sectors received considerable selling pressure where HUBC, HBL, MEBL, PSO and UBL negatively contributed 396 points to the index. On the other hand, FFC, MARI and EFERT saw some buying interest as they added 245 points, cumulatively.
BR Automobile Assembler Index declined by 192.68 points or 1.32 percent to close at 14,424.83 points with total turnover of 9.107 million shares.
BR Cement Index decreased by 83.76 points or 1.2 percent to close at 6,888.02 points with 26.213 million shares.
BR Commercial Banks Index fell by 236.85 points or 1.44 percent to close at 16,206.97 points with 179.385 million shares.
BR Power Generation and Distribution Index plunged by 289.62 points or 1.98 percent to close at 14,347.74 points with 184.801 million shares.
BR Oil and Gas Index gained 5.57 points or 0.09 percent to close at 6,168.42 points with 98.960 million shares.
BR Tech. & Comm. Index increased by 73.9 points or 1.71 percent to close at 4,386.40 points with 245.369 million shares.
“Following a 4,500-point increase last week, the stock exchange witnessed profit-taking across the board,” Mubashir Anis Naviwala at JS Global Capital said.
Traded volume stood at 1,216 million shares where KEL (up 1.4 percent), WTL (up 2.4 percent), KOSM (up 13 percent), PTC (up 5.3 percent) and AKBL (up 2.6 percent) were the volume leaders.
Copyright Business Recorder, 2023
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