KARACHI: Pakistan Stock Exchange Tuesday opened on a strong positive note and remained bullish in most part of the day, however profit-taking at the fag end, eroded all intraday gains and forced the market to close in red zone. The benchmark KSE-100 Index hit 45,255.92 points intraday high and closed at 44,887.77 points, down 36.14 points or 0.08 percent. Daily trading volumes on ready counter increased to 207.040 million shares as compared to 160.210 million shares traded Monday.
BRIndex100 however closed in positive at 4,601.76 points, up 15.17 points or 0.33 percent with total daily turnover of 177.312 million shares.
BRIndex30 lost 74.26 points or 0.43 percent to close at 17,335.47 points with total daily trading volumes of 123.158 million shares.
Foreign investors remained net sellers of shares worth $2.0 million. Total market capitalization declined by Rs 13 billion to Rs 7.696 trillion. Out of total 333 active scrips, 161 closed in negative and 148 in positive while the value of 24 stocks remained unchanged.
Waves Singer was the volume leader with 20.025 million shares and gained Rs 0.52 to close at Rs 15.50 followed by TRG Pak that declined by Rs 3.75 to close at Rs 77.14 with 11.114 million shares.
Lucky Cement and Indus Motor Co were the top gainers increasing by Rs 19.71 and Rs 12.82 respectively to close at Rs 684.93 and Rs 1308.13 while Colgate Palmolive and Sapphire Fiber were the top losers declining by Rs 126.00 and Rs 70.20 respectively to close at Rs 2294.01 and Rs 865.80.
Neelam Naz at JS Global Capital said that the market opened on a positive note amid news of status quo on interest rates in the monetary policy announcement by the SBP. However, after touching an intraday high of 45,255, market lost ground to profit-taking and closed at 44,888, down 36 points.
Major Index laggards were SYS, TRG, COLG, ENGRO, PPL whereas major volume leaders were WAVES, TRG, TREET, CNERGY and WTL.
BR Automobile Assembler Index gained 4.02 points or 0.05 percent to close at 8,557.62 points with total turnover of 1.018 million shares.
BR Cement Index increased by 133.6 points or 2.4 percent to close at 5,708.20 points with 11.773 million shares.
BR Commercial Banks Index lost 1.68 points or 0.02 percent to close at 10,080.86 points with 16.281 million shares.
BR Power Generation and Distribution Index closed at 6,050.42 points, down 1.92 points or 0.03 percent with 21.013 million shares.
BR Oil and Gas Index decreased by 16.47 points or 0.42 percent to close at 3,881.53 points with 13.885 million shares.
BR Tech. & Comm. Index declined by 97.79 points or 2.58 percent to close at 3,693.70 points with 39.592 million shares.
An analyst at Topline Securities said that the Pakistan equities closed slight negative where benchmark KSE-100 Index settled at 44,887 level, down 0.08 percent.
The market opened on a positive note over the State Bank of Pakistan (SBP) in its latest Monetary Policy Statement (MPS) has maintained the policy rate at 9.75 percent, which led the market to make an intraday high of plus 332 points. However, this positivity didn’t sustain at the bourse and profit taking has been witnessed in the second half of the session where major negativity came from Technology sector as TRG, SYS, OCTOPUS and AVN closed lower.
Copyright Business Recorder, 2022