KARACHI: Pakistan Stock Exchange on Thursday witnessed a mixed trend and after moving both ways, closed on negative note due to selling pressure on investor concerns over economic and political situation.
The benchmark KSE-100 index hit 41,219.03 points intraday high and 40,956.88 points intraday low before closing at 41,029.68 points, down 87.65 points or 0.21 percent.
The daily trading volumes on ready counter increased to 125.344 million shares as compared to 105.572 million shares traded on Wednesday. Daily traded value on ready counter increased to Rs 4.059 billion against previous session’s Rs 2.576 billion.
BRIndex100 lost 9.56 points or 0.23 percent to close at 4,109.07 points with total daily turnover of 103.156 million shares.
BRIndex30 decreased by 89.7 points or 0.64 percent to close at 13,978.84 points with 61.091 million shares.
The foreign investors also remained on the selling side and withdrew $1.226 million from the local equity market. Total market capitalization declined by Rs 13 billion to Rs 6.214 trillion. Out of total 324 active scrips, 184 closed in negative and 110 in positive while the value of 30 stocks remained unchanged.
Gul Ahmed was the volume leader with 10.735 million shares and gained Rs 0.32 to close at Rs 22.93 followed by Pak Refinery that inched up by Rs 0.33 to close at Rs 14.10 with 8.370 million shares. WorldCall Telecom lost Rs 0.02 to close at Rs 1.10 with 8.105 million shares.
Blessed Textile and Faisal Spinning were the top gainers increasing by Rs 27.75 and Rs 25.17 respectively to close at Rs 397.75 and Rs 375.17 while Bata Pak and Service Ind. Limited were the top losers declining by Rs 73.67 and Rs 13.32 respectively to close at Rs 1606.33 and Rs 246.33.
“A mixed session was recorded at the PSX,” an analyst at Arif Habib Limited said. The benchmark KSE-100 Index opened in the green, but due to the Pak rupee and US dollar parity, the market had volatile activity and ended the day in the red. Investors are taking a cautious attitude to the rumors about new taxes in the forthcoming budget. Volumes remained decent across the board as third-tier equities continued to dominate.
Sectors contributing to the performance include Technology & Communication (down 69.3 points), Commercial Banks (down 22.8 points), Textile Composite (down 10.6 points), Pharmaceuticals (down 8.3 points) and Leather & Tanneries (down 7.0 points).
BR Automobile Assembler Index inched up by 1.35 points or 0.02 percent to close at 7,496.86 points with total turnover of 171,906 shares.
BR Cement Index gained 15.29 points or 0.36 percent to close at 4,263.26 points with 1.004 million shares.
BR Commercial Banks Index added 6.39 points or 0.07 percent to close at 8,651.42 points with 2.888 million shares.
BR Power Generation and Distribution Index closed at 7,329.50 points, up 10.88 points or 0.15 percent with 390,028 shares.
BR Oil and Gas Index lost 2.56 points or 0.07 percent to close at 3,759.67 points with 1.003 million shares.
BR Tech. & Comm. Index fell by 3.79 points or 0.1 percent to close at 3,686.64 points with 1.097 million shares.
Sara Saeed at JS Global Capital said that the KSE-100 index witnessed ups and downs during the day eventually closing at 41,030, losing 88 points.
The traded volume stood at 125 million shares where GATM (up 1.4 percent), PRL (up 2.4 percent), WTL (down 1.8 percent), GRR (up 0.6 percent) and MLCF (down 0.3 percent) were the volume leaders.
Copyright Business Recorder, 2023
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