KARACHI: Pakistan Stock Exchange Monday witnessed a rangebound session as the market opened in the green zone but the lack of investors’ participation kept the index in check. The market swung in both directions for most of the trading session and managed to close in green.
The benchmark KSE-100 Index hit 38,553.01 points intraday high and 38,135.53 points intraday low before closing at 38,443.59 points, up 35.61 points or 0.09 percent.
Trading activity remained very thin as total daily volumes on ready counter decreased to 81.287 million shares as compared to 93.450 million shares traded on last Friday while total daily traded value on ready counter declined to Rs 2.809 billion against previous session’s Rs 3.508 billion.
BRIndex100 gained 6.36 points or 0.17 percent to close at 3,796.78 points with total daily turnover of 58.448 million shares.
BRIndex30 increased by 167.39 points or 1.25 percent to close at 13,564.89 points with total daily trading volumes of 46.101 million shares.
Foreign investors remained net buyers of shares worth $511,981. Total market capitalization increased by Rs 1.0 billion to Rs 6.135 trillion. Out of total 315 active scrips, 159 closed in negative and 130 in positive while the value of 26 stocks remained unchanged.
Al-Shaheer (R) was the volume leader with 9.929 million shares however lost Rs 0.10 to close at Rs 0.07 followed by TRG Pak that increased by Rs 2.57 to close at Rs 100.67 with 7.837 million shares. WorldCall Telecom closed at Rs 1.10, down Rs 0.01 with 5.939 million shares.
Bhanero Textile and Thal Ind. Corp were the top gainers increasing by Rs 22.99 and Rs 21.00 respectively to close at Rs 1199.99 and Rs 312.00 while Bata Pak and Nestle Pakistan were the top losers declining by Rs 128.99 and Rs 119.99 respectively to close at Rs 1596.01 and Rs 5190.01.
An analyst at Arif Habib Limited said a rangebound session was recorded at the PSX to start off the business week. The market opened in the green zone but the lack of investors’ participation drove the index down into the red zone however, the market swung in both directions for most of the trading session and managed to close in green.
Investors opted to remain on the side line on account of the Monetary Policy rate announcement. Volumes dried up in the main-board, while third-tier companies continued to lead in terms of volumes.
Sectors contributing to the performance include E&P (up 84.6 points), Cement (up 40.2 points), Technology & Communication (up 30.9 points), Power Generation & Distribution (up 20.9 points), and Sugar & Allied Industries (up 4.1 points).
BR Automobile Assembler Index lost 10.62 points or 0.15 percent to close at 7,051.37 points with total turnover of 1.520 million shares.
BR Cement Index increased by 50.9 points or 1.51 percent to close at 3,424.49 points with 3.551 million shares.
BR Commercial Banks Index fell by 32.0 points or 0.43 percent to close at 7,401.55 points with 4.142 million shares.
BR Power Generation and Distribution Index gained 31.94 points or 0.52 percent to close at 6,184.12 points with 2.804 million shares.
BR Oil and Gas Index added 47.92 points or 1.26 percent to close at 3,861.96 points with 13.247 million shares.
BR Tech. & Comm. Index closed at 4,070.60 points, up 27.48 points or 0.68 percent with 18.302 million shares.
Mohammed Waqar Iqbal at JS Global Capital said that the bourse remained under pressure throughout the day due to rising economic uncertainty and macroeconomic worries. The KSE-100 Index closed at 38,444 level, gaining 36 points compared to the last trading session.
Traded volumes stood low at 81 million shares where TRG (up 2.6 percent), WTL (down 0.9 percent), GCILB (down 10 percent) PPL (up 2.2 percent) and OGDC (up 3.1 percent) were the highest contributors.
Copyright Business Recorder, 2023
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