KARACHI: Pakistan Stock Exchange Monday witnessed a positive trend due to fresh buying on attractive low levels. However, trading activity remained extremely low as investors stayed cautious due to prevailing political uncertainty in the country. The benchmark KSE-100 Index hit 41,376.09 points intraday high and closed slightly low at 41,264.66 points with net gain of 124.32 points or 0.30 percent.
Total daily volumes on ready counter declined to 97.476 million shares as compared to 177.761 million shares traded on last Friday while daily traded value on ready counter declined to Rs 2.501 billion against previous session’s Rs 4.656 billion.
BRIndex100 inched up by 12.07 points or 0.3 percent to close at 4,093.06 points with total daily turnover of 82.057 million shares.
BRIndex30 closed at 14,920.78 points, up 21.68 points or 0.15 percent with total daily trading volumes of 60.456 million shares.
Foreign investors however remained net sellers of shares worth $190,822. Total market capitalization declined by Rs 10 billion to Rs 6.663 trillion. Out of total 332 active scrips, 167 closed in positive and 135 in negative while the value of 30 stocks remained unchanged.
WorldCall Telecom was the volume leader with 9.519 million shares and closed at Rs 1.33, up Rs 0.01 followed by G3 Technologies that gained Rs 0.25 to close at Rs 8.83 with 5.952 million shares. Silk Bank lost Rs 0.01 to close at Rs 1.03 with 5.894 million shares.
Bata Pak and Goodluck Ind. were the top gainers increasing by Rs 146.88 and Rs 41.66 respectively to close at Rs 2,106.88 and Rs 597.21 while Allawasaya Textile and Nestle Pakistan were the top losers declining by Rs 291.20 and Rs 195.00 respectively to close at Rs 3,591.55 and Rs 5,700.00.
“Despite the lack of investors’ participations a positive session was witnessed at the PSX”, an analyst at Arif Habib Limited said. Prevailing political clatter kept the volumes dry in the main board as 3rd tier stocks continued to be the volumes leaders.
Sectors contributing to the performance include Technology and Communication (up 46.7 points), Power Generation and Distribution (up 32.5 points), Cement (up 21.5 points), E&P (up 16.2 points) and Automobile Assembler (up 12.1 points).
BR Automobile Assembler Index increased by 67.92 points or 0.78 percent to close at 8,794.07 points with total turnover of 2.551 million shares.
BR Cement Index gained 22.65 points or 0.52 percent to close at 4,394.31 points with 4.375 million shares.
BR Commercial Banks Index inched up by 9.68 points or 0.12 percent to close at 8,189.47 points with 11.261 million shares.
BR Power Generation and Distribution Index surged by 87.29 points or 1.36 percent to close at 6,526.09 points with 10.511 million shares.
BR Oil and Gas Index added 7.13 points or 0.2 percent to close at 3,633.63 points with 7.307 million shares.
BR Tech. & Comm. Index closed at 4,174.61 points, up 54.11 points or 1.31 percent with 20.647 million shares.
Sara Saeed at JS Global Capital said that the ongoing uncertain political situation kept investors away from active market participation. The KSE-100 Index closed at 41,265, gaining 124 points compared to the previous session.
The market volume stood at 97 million shares where WTL (up 0.8 percent), GTECH (up 2.9 percent), SILK (down 1.0 percent), KEL (down 0.4 percent) and CNERGY (down 0.4 percent) were the major contributors.
Copyright Business Recorder, 2022
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