KARACHI: Pakistan Stock Exchange on Thursday witnessed a mixed trend and after moving in both directions, closed on slightly negative note with low trading activity as investors remained cautious and avoided taking fresh positions. The benchmark KSE-100 Index hit 64,936.76 points intra-day high and 64,098.11 points intra-day low levels before closing at 64,639.16 points, down 7.69 points or 0.01 percent.
Trading activity remained low as total daily volumes on ready counter decreased to 548.989 million shares as compared to 639.616 million shares traded on Wednesday while total daily traded value on the ready counter declined to Rs 15.395 billion against previous session’s Rs 20.282 billion.
BRIndex100 lost 6.86 points or 0.1 percent to close at 6,663.25 points with total daily turnover of 498.438 million shares.
BRIndex30 fell by 35.57 points or 0.15 percent to close at 24,161.74 points with total daily trading volumes of 363.704 million shares.
Foreign investors remained net sellers of shares worth $35,158. Total market capitalization increased by Rs 2 billion to Rs 9.361 trillion. Out of total 360 active scrips, 184 closed in negative and 155 in positive while the value of 21 stocks remained unchanged.
K-Electric was the volume leader with 154.661 million shares and gained Rs 0.18 to close at Rs 5.65 followed by WorldCall Telecom that lost Rs 0.04 to close at Rs 1.48 with 37.141 million shares. Fauji Foods closed at Rs 10.74, down Rs 0.22 with 27.327 million shares.
Unilever Pakistan Foods and Pak Suzuki Motor Company were the top gainers increasing by Rs 50.00 and Rs 43.67 respectively to close at Rs 22,250.00 and Rs 625.91 while Mehmood Textile Mills and Thal Limited were the top losers declining by Rs 20.95 and Rs 9.50 respectively to close at Rs 500.00 and Rs 299.39.
“A range-bound session was observed at PSX as the KSE-100 index closed at 64,639, down 0.01 percent,” an analyst at Topline Securities said. The index fluctuated within an 838 point range throughout the day, reaching an intraday high of 64,936 and a low of 64,098 points.
Negative movements were observed in several stocks, including OGDC, SYS, PPL, LUCK, and HBL, resulting in a combined loss of 136 points. Conversely, HUBC, ENGRO, and EFERT contributed to a collective gain of 94 points.
BR Automobile Assembler Index increased by 296.81 points or 2.13 percent to close at 14,227.90 points with total turnover of 13.614 million shares.
BR Cement Index decreased by 45.0 points or 0.64 percent to close at 6,996.92 points with 14.196 million shares.
BR Commercial Banks Index fell by 39.14 points or 0.25 percent to close at 15,541.99 points with 29.048 million shares.
BR Power Generation and Distribution Index added 131.74 points or 0.91 percent to close at 14,677.43 points with 162.155 million shares.
BR Oil and Gas Index lost 23.03 points or 0.37 percent to close at 6,221.04 points with 35.084 million shares.
BR Tech. & Comm. Index closed at 4,050.74 points, down 24.52 points or 0.6 percent with 75.501 million shares.
Muhammad Shuja Qureshi at JS Global Capital said that the market rebounded from an intraday low of 64,098 and finally closed at the 64,639 level, down 8 points.
Auto sector led the recovery where HCAR, PSMC, and SAZEW closed at their respective upper circuits. In addition, Fertilizer and Refinery sectors also posted gains. However, Banks, E&P, and Steel sectors saw profit-taking.
Copyright Business Recorder, 2024
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