KARACHI: Sentiments at Pakistan Stock Exchange (PSX) remained negative on Tuesday amid profit-taking and economic uncertainty.
BRIndex100 lost 26.32 points to close at 4,686.20 points, down from 4,712.52 points of previous session. Total volume was 145.601 million and Hum Network was the most traded company in BRIndex100 with a volume of 24.881 million shares.
BRIndex30 opened at 20,221.14 points and end of the session closed at 20,081.76 points, which was 139.38 points or 0.69 percent lower than previous close. Total volume at BRIndex30 was 94.761 million shares.
The benchmark KSE-100 Index fell by 190.40 points to close at 45,227.80 points compared to 45,418.20 points Monday. Share trading volumes on ready counter remained dull and overall some 162 million shares were traded as against 166 million in the previous session.
Market capitalization further declined by Rs 31 billion to Rs 7.817 trillion. Out of total 328 active scrips, 134 closed in positive and 179 in negative while the value of 15 stocks remained unchanged.
Ahsan Mehanti of Arif Habib Corp said that stocks closed lower amid pressure on economic uncertainty and concern for surging circular debt near to Rs 2.3 trillion. Falling rupee, foreign outflows and uncertainty over outcome of Pak IMF talks played a catalyst role in bearish close, he added.
Hum News was the volume leader with 24.87 million shares and closed at Rs 6.77 followed by Ghani Glo Hol that closed at Rs 29.89 with 8.34 million shares. Lotte Chemical ranked third with 8 million shares and it closed at Rs 15.49.
Allawasaya Tex and Colgate Palm were the top gainers increasing by Rs 132.25 and Rs 34.98 respectively to close at Rs 1,897.00 and Rs 2,455.00 respectively. Mari Petroleum and Sapphire Tex were the top losers declining by Rs 63.47 and Rs 55.50 respectively to close at Rs 1,715.77 and Rs 684.50.
BR Automobile Assembler Index lost 6.48 points to close at 8,355.57 points with a total turnover of 744,860 shares. BR Cement Index closed at 5,742.09 points with a net negative change of 39.3 points or a percentage change of 0.68 and a total turnover of 9,508,984.
BR Commercial Banks Index also declined by 70.22 or 0.7 percent to close at 9,990.21 points and overall 10,749,781 shares were traded. BR Power Generation and Distribution Index closed at 5,526.94 points with a net positive change of 37.96 points or a percentage change of 0.69 and a total turnover of 3,752,240.
BR Oil and Gas Index closed at 3,833.85 points, down 65.78 points or a percentage change of 1.69 with a total turnover of 2,756,243. BR Tech. & Comm. Index closed at 4,152.24 with a net negative change of 0.88 points or a percentage change of 0.02 and a total turnover of 49,834,326.
Analysts at Topline said that another lackluster day at PSX where bourse witnessed a rangebound activity. Investors' sentiment remained low in absence of any positive trigger as no progress on IMF program front and no updates on Saudi oil deferral payment facility.
On the corporate announcement fronts, MARI posted 1QFY22 EPS at Rs 68.21 (0 percent YoY, up 12% QoQ). Earnings were in line with industry expectations. ISL earned the EPS of Rs 6.13 1QFY22 (up 377% YoY, up 15% QoQ). Earnings were higher than industry expectations.
Copyright Business Recorder, 2021
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