KARACHI: Pakistan Stock Exchange (PSX) on Tuesday witnessed lackluster activity that was observed throughout the trading session due to political unrest however the market managed to close on positive note due to fresh buying in some sectors.
The benchmark KSE-100 index gained 83.82 points or 0.20 percent and closed at 41,839.27 points. During the session, the index crossed 42,000 psychological level to hit 42,008.21 points intra-day high, however, failed to maintain this trend and closed at slight lower level due to profit taking in some sectors.
Trading activities also improved as total daily volumes on ready counter increased to 190.311 million shares as compared to 144.312 million shares traded on Monday while total daily traded value on ready counter increased to Rs 5.809 billion against previous session’s Rs 4.667 billion.
BRIndex100 inched up by 2.74 points or 0.07 percent to close at 4,195.52 points with total daily turnover of 161.169 million shares.
BRIndex30 added 40.28 points or 0.26 percent to close at 15,766.47 points with total daily trading volumes of 91.099 million shares.
The foreign investors however remained net sellers of shares worth $1.067 million. Total market capitalization increased by Rs 01 billion to Rs 6.785 trillion. Out of total 350 active scrips, 175 closed in positive and 163 in negative while the value of 12 stocks remained unchanged.
WorldCall Telecom was the volume leader with 29.860 million shares and gained Rs 0.02 to close at Rs 1.57 followed by F Nat Equities that increased by Rs 1.00 to close at Rs 6.00 with 11.670 million shares. SNGP surged by Rs 2.19 to close at Rs 33.81 with 8.417 million shares.
Sapphire Textile and Premium Textile were the top gainers increasing by Rs 45.40 and Rs 31.60 respectively to close at Rs 1,059.00 and Rs 665.00 while Nestle Pakistan and Sapphire Fiber were the top losers declining by Rs 150.00 and Rs 91.02 respectively to close at Rs 5,850.00 and Rs 1,158.36.
An analyst at Arif Habib Limited said that another range bound session was witnessed at the PSX. The market traded in the positive zone, despite the lackluster activity that was observed throughout the trading session due to political unstabality. Investors’ participation remained sluggish as volumes continued to fall, on the contrary, decent activity was recorded in the 3rd tier stocks.
Sectors contributing to the performance include Technology and Communication (up 25.5 points), Commercial Banks (up 14.7 points), Fertilizer (up 10.9 points), Cement (up 10.0 points) and Textile Composite (up 9.2 points).
BR Automobile Assembler Index inched up by 0.29 points to close at 9,184.32 points with total turnover of 1.517 million shares.
BR Cement Index gained 9.16 points or 0.2 percent to close at 4,583.76 points with 13.860 million shares.
BR Commercial Banks Index added 2.8 points or 0.03 percent to close at 8,181.97 points with 10.867 million shares.
BR Power Generation and Distribution Index closed at 6,441.31 points, up 7.85 points or 0.12 percent with 11.568 million shares.
BR Oil and Gas Index increased by 8.92 points or 0.24 percent to close at 3,695.07 points with 17.855 million shares.
BR Tech. & Comm. Index surged by 32.8 points or 0.75 percent to close at 4,420.46 points with 53.979 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the KSE-100 witnessed range bound activity moving between 252 points touching a high of 42,007 and closing in at 41,839 points.
Investor participation remained low where volumes during the day stood at 190 million shares. Top contributors were WTL (up 1.3 percent), FNEL (up 20 percent), SNGP (up 6.9 percent), PRL (down 1.5 percent) and DCL (up 1.6 percent).
Copyright Business Recorder, 2022
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