KARACHI: Pakistan Stock Exchange on Tuesday witnessed a mixed trend due to investors’ lack of interest on their concerns over prevailing political and economic situation in the country.
The benchmark KSE-100 Index hit 47,675.22 points intraday high and 37,359.18 points intraday low before closing at 47,417.90 points, down 30.06 points or 0.06 percent.
Trading activity remained low as daily volumes on ready counter decreased to 185.753 million shares as compared to 211.230 million shares traded on Monday while total daily traded value on ready counter declined to Rs 6.223 billion against previous session’s Rs 7.076 billion.
BRIndex100 inched up by 3.56 points or 0.07 percent to close at 4,796.15 points with total daily turnover of 161.623 million shares.
BRIndex30 added 109.76 points or 0.65 percent to close at 17,020.30 points with total daily trading volumes of 105.900 million shares.
Foreign investors however remained net buyers of shares worth $257,044. Out of total 316 active scrips, 152 closed in negative and 141 in positive while the value of 23 stocks remained unchanged.
WorldCall Telecom was the volume leader with 25.867 million shares and gained Rs 0.02 to close at Rs 1.29 followed by Nishat Power that closed at Rs 23.55, down Rs 0.67 with 16.043 million shares. OGDC increased by Rs 3.07 to close at Rs 99.51 with 13.626 million shares.
Bhanero Textile and Mari Petroleum were the top gainers increasing by Rs 49.00 and Rs 23.93, respectively to close at Rs 999.00 and Rs 1627.16 while Pak Tobacco and Exide Pak were the top losers declining by Rs 29.00 and Rs 20.50 respectively to close at Rs 693.00 and Rs 347.68.
“Amidst a lack of clear market direction, Pakistan equities witnessed a day of sideways movement as the KSE-100 Index held steady to settle at 47,417 level, down by 0.06 percent,” an analyst at Topline Securities said.
During the trading hours Banks, E&P, and OMC sector stocks gained momentum as OGDC, MARI, PPL, PSO and BAFL cumulatively added plus 121 points. On the flip side BAHL, HUBC and DAWH collectively lost value to weigh down on the index by minus 56 points.
BR Automobile Assembler Index closed at 8,950.79 points, 1.31 points or 0.01 percent with 13.018 million shares.
BR Cement Index decreased by 21.44 points or 0.43 percent to close at 4,963.62 points with 4.966 million shares.
BR Commercial Banks Index lost 5.33 points or 0.05 percent to close at 11,057.77 points with 26.432 million shares.
BR Power Generation and Distribution Index inched down by 3.2 points or 0.03 percent to close at 9,152.00 points with 32.323 million shares.
BR Oil and Gas Index increased by 63.58 points or 1.46 percent to close at 4,423.24 points with 26.824 million shares.
BR Tech. & Comm. Index fell by 2.25 points or 0.06 percent to close at 4,000.55 points with 32.284 million shares.
Muhammad Waqar Iqbal at JS Global Capital said the market began on a positive note, but concerns regarding inflation, currency devaluation, and the anticipation of a hike in the upcoming monetary policy caused the market to retreat.
Traded volume stood at 186 million shares with WTL (up 1.6 percent), NPL (down 2.8 percent), OGDC (up 3.2 percent), DFML (up 7.5 percent) and JSBL (up 3.5 percent) being the highest contributors.
Copyright Business Recorder, 2023
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