KARACHI: Pakistan Stock Exchange on Tuesday opened in green, however failed to continue this trend and closed in red zone due to selling pressure as investors opted to offload their holdings on available margins.
The benchmark KSE-100 Index declined by 802.56 points or 0.69 percent and closed at 115,042.25 points. The index hit 116,424.85 points intraday high and 114,783.72 points intraday low.
The daily volumes on ready counter increased to 767.270 million shares as compared to 675.046 million shares traded on Monday. The daily traded value on the ready counter declined to Rs 31.825 billion against previous session’s Rs 37.533 billion.
BRIndex100 decreased by 98.67 points or 0.81 percent to close at 12,109.37 points with daily turnover of 704.788 million shares.
BRIndex30 plunged by 714.05 points or 1.91 percent to close at 36,597.89 points with total daily trading volumes of 415.720 million shares.
Foreign investors however remained net buyers of shares worth $1.108 million. Total market capitalization declined by Rs 104 billion to stand at Rs 14.215 trillion. Out of total 450 active scrips, 266 closed in negative and 135 in positive while the value of 49 stocks remained unchanged.
Cnergyico PK was the volume leader with 114.034 million shares and gained Rs 0.40 to close at Rs 7.29 followed by Bank Makramah that inched up by Rs 0.13 to close at Rs 3.53 with 69.476 million shares. WorldCall Telecom lost Rs 0.09 to close at Rs 1.78 with 64.227 million shares.
Hoechst Pakistan and Rafhan Maize Products Company were the top gainers increasing by Rs 121.84 and Rs 94.94 respectively to close at Rs 3,108.52 and Rs 9,194.94 while Unilever Pakistan Foods and Khyber Textile Mills were the top losers declining by Rs 299.49 and Rs 43.88 respectively to close at Rs 21,550.01 and Rs 526.08.
Muhammad Hasan Ather at JS Global Capital said the KSE-100 Index saw significant volatility, with the benchmark Index falling by 803 points, closing at 115,042.
The decline was led by profit-taking from investors after the index had reached an intraday high of 116,425.
CNERGY, BML, WTL, FCCL, and CPHL were the volume leaders for the day.
The upcoming Monetary Policy Committee (MPC) meeting on January 27 is expected to provide positive momentum if the central bank announces a larger-than expected rate cut, potentially boosting market sentiment and leading to an upward trend.
BR Automobile Assembler Index declined by 375.58 points or 1.7 percent to close at 21,722.04 points with total turnover of 16.520 million shares.
BR Cement Index decreased by 144.8 points or 1.32 percent to close at 10,865.68 points with 113.756 million shares.
BR Commercial Banks Index gained 14.18 points or 0.05 percent to close at 30,237.31 points with 100.154 million shares.
BR Power Generation and Distribution Index plunged by 485.96 points or 2.53 percent to close at 18,686.21 points with 16.579 million shares.
BR Oil and Gas Index eroded 233.18 points or 1.89 percent to close at 12,101.53 points with 29.758 million shares.
BR Tech. & Comm. Index fell by 70.84 points or 1.3 percent to close at 5,368.89 points with 93.048 million shares.
Ahsan Mehanti at Arif Habib Corporation said stocks closed under pressure amid consolidation the earnings season and slump in global crude oil prices.
He said investor concerns over dismal growth projections, speculations over Government-PTI talks, and expectations over cautious SBP policy rate cut on January 27 played a catalytic role in bearish activity.
Copyright Business Recorder, 2025
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