KARACHI: Pakistan Stock Exchange on Thursday witnessed mixed trend as the investors remained cautious and avoided to take fresh positions.
The market opened in green zone and remained bullish throughout the session, however profit taking during last hours minimized intra-day gains.
The benchmark KSE-100 index hit 41,216.65 points intra-day high and 40,668.48 points intra-day low level before closing at 40,803.89 points, up 45.69 points or 0.11 percent.
Trading activities remained low as total daily volumes on ready counter decreased to 175.412 million shares as compared to 189.373 million shares traded on Wednesday while total daily traded value on ready counter declined to Rs 5.891 billion against previous session’s Rs 6.491 billion.
BRIndex100 lost 3.24 points or 0.08 percent to close at 4,043.61 points with total daily turnover of 139.927 million shares.
BRIndex30 inched up by 19.58 points or 0.14 percent to close at 14,498.09 points with total daily trading volumes of 92.405 million shares.
The foreign investors remained net sellers of shares worth $575,406. Total market capitalization increased by Rs 15 billion to Rs 6.506 trillion. Out of total 326 active scrips, 165 closed in positive and 140 in negative while the value of 21 stocks remained unchanged.
WorldCall Telecom was the volume leader with 12.621 million shares and closed at Rs 1.17, down Re 0.01 followed by Pak Refinery that gained Re 0.02 to close at Rs 14.02 with 9.803 million shares. Al-Shaheer (R) inched up by Re 0.20 to close at Rs 0.65 with 8.951 million shares.
Nestle Pakistan and Pak Services were the top gainers increasing by Rs 249.90 and Rs 140.00 respectively to close at Rs 5850.00 and Rs 2045.00 while Pak Engineering and Shield Corp were the top losers declining by Rs 27.55 and Rs 20.42 respectively to close at Rs 339.80 and Rs 257.00.
An analyst at Arif Habib Limited said that a positive session was witnessed at the PSX. The market opened in the green and went on to reach an intraday high of plus 461.47 points before trading in the same range for the remainder of the day. However, during the final trading hour, investors chose to book profits on their positions, dragging the index down. Volumes remained robust across the board however the E&P and cement sectors remained in the limelight.
Sectors contributing to the performance include Miscellaneous (up 72.7 points), Cement (up 39.0 points), Chemical (up 18.8 points), Inv. Banks/Inv. Cos/ Securities Cos. (up 16.9 points), and Food & Personal Care Products (up 15.7 points).
BR Automobile Assembler Index gained 66.88 points or 0.9 percent to close at 7,495.82 points with total turnover of 3.750 million shares.
BR Cement Index increased by 57.11 points or 1.53 percent to close at 3,796.39 points with 22.631 million shares.
BR Commercial Banks Index lost 12.36 points or 0.16 percent to close at 7,799.25 points with 5.503 million shares.
BR Power Generation and Distribution Index surged by 71.82 points or 1.15 percent to close at 6,327.24 points with 12.779 million shares.
BR Oil and Gas Index decreased by 36.24 points or 0.87 percent to close at 4,144.94 points with 23.097 million shares.
BR Tech. & Comm. Index closed at 4,316.38 points, down 1.77 points or 0.04 percent with 23.464 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the bourse witnessed a volatile session. The KSE-100 index gained 46 points and closed the day at 40,804 after touching an intra-day high of 41,220 points.
Traded volume stood at 175 million shares where WTL (down 0.8 percent), PRL (up 0.1 percent), PPL (down 0.5 percent) and MLCF (up 4.2 percent) were the major contributors.
Copyright Business Recorder, 2023
Comments
Comments are closed.