KARACHI: Pakistan Stock Exchange Thursday witnessed a rangebound session as investors remained cautious on rumors of emergency policy meeting that kept the market choppy throughout the day.
The benchmark KSE-100 Index declined by 248.21 points or 0.60 percent and closed at 41,078.65 points. The index hit 41,619.77 points intraday high and 41,026.43 points intraday low level.
The daily trading volumes on ready counter slightly increased to 141.865 million shares as compared to 137.377 million shares traded on Wednesday while total daily traded value on ready counter increased to Rs 7.438 billion against previous session’s Rs 6.115 billion.
BRIndex100 lost 22.85 points or 0.55 percent to close at 4,114.07 points with total daily turnover of 131.056 million shares.
BRIndex30 declined by 173.65 points or 1.17 percent to close at 14,700.99 points with total daily trading volumes of 81.474 million shares. Foreign investors however remained net buyers of shares worth $77,051. Total market capitalization declined by Rs 43 to Rs 6.442 trillion. Out of total 320 active scrips, 203 closed in negative and only 90 in positive while the value of 27 stocks remained unchanged.
WorldCall Telecom was the volume leader with 13.499 million shares however lost Rs 0.03 to close at Rs 1.21 followed by Maple Leaf Cement that gained Rs 0.05 to close at Rs 22.15 with 11.712 million shares. Meezan Bank increased by Rs 4.23 to close at Rs 96.63 with 7.235 million shares.
Rafhan Maize and Reliance Cotton were the top gainers increasing by Rs 349.00 and Rs 45.64, respectively to close at Rs 8799.00 and Rs 655.00 while Pak Tobacco and JS Global Cap were the top losers declining by Rs 48.85 and Rs 20.44 to close at Rs 801.15 and Rs 343.56.
An analyst at Arif Habib Limited said that a rangebound session was witnessed at PSX. The KSE-100 Index opened in green, but rumors of emergency policy meeting kept the index choppy and traded in narrow range throughout the day as investor participation remained sluggish, however in the last trading hour profit selling were observed across the board which led the index to close in the red. Decent volumes were recorded across the board.
Sectors contributing to the performance include E&P (down 106.4 points), Cement (down 41.4 points), Power Generation & Distribution (down 24.6 points), Inv. Banks / Inv. Cos. / Securities Cos. (down 23.2 points), and Textile Composite (down 18.4 points).
BR Automobile Assembler Index lost 41.09 points or 0.55 percent to close at 7,375.80 point with total turnover of 1.353 million shares.
BR Cement Index decreased by 55.98 points or 1.49 percent to close at 3,702.37 points with 24.595 million shares.
BR Commercial Banks Index gained 20.18 points or 0.25 percent to close at 8,165.37 points with 19.732 million shares.
BR Power Generation and Distribution Index fell by 58.05 points or 0.86 percent to close at 6,701.05 points with 10.826 million shares.
BR Oil and Gas Index declined by 73.5 points or 1.72 percent to close at 4,190.81 points with 17.990 million shares.
BR Tech. & Comm. Index closed at 4,225.29 points, up 7.64 points or 0.18 percent with 26.194 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the market opened on a positive note but investors preferred to book profits on the higher side. The KSE-100 index closed at 41,078, after touching a high of 41,619 points.
Traded volume stood at 142 million shares where WTL (down 2.4 percent), MLCF (up 0.2 percent), MEBL (up 4.6 percent), OGDC (down 2.5 percent) and TRG (up 0.5 percent) were the volume leaders.
Copyright Business Recorder, 2023
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