KARACHI: Pakistan Stock Exchange on Tuesday witnessed a mixed trend as investors opted to remain on the sidelines and avoided taking fresh positions.
The benchmark KSE-100 Index hit 77,930.04 points intraday high and 77,460.40 points intraday low before closing at 77,745.52 points, down 84.82 points or 0.11 percent.
Trading activity remained low as total daily volumes on ready counter decreased to 380.717 million shares as compared to 471.749 million shares traded on Monday while total daily traded value on the ready counter declined to Rs 11.237 billion against previous session’s Rs 16.915 billion.
BRIndex100 closed at 8,185.46 points, up 1.0 point or 0.01 percent with total daily turnover of 326.149 million shares.
BRIndex30 gained 111.91 points or 0.44 percent to close at 25,708.87 points with total daily trading volumes of 210.376 million shares.
Foreign investors however remained net buyers of shares worth $154,883. Total market capitalization increased by Rs 2 billion to Rs 10.342 trillion. Out of total 446 active scrips, 196 closed in positive and 183 in negative while the value of 67 stocks remained unchanged.
Kohinoor Spining was the volume leader with 101.859 million shares and increased by Rs 0.94 to close at Rs 10.21 followed by Yousuf Weaving that gained Rs 0.57 to close at Rs 6.46 with 35.808 million shares. Flaying Cement closed at Rs 11.58, up Rs 0.62 with 17.469 million shares.
PIA Holding Company LimitedB and Unilever Pakistan Foods were the top gainers increasing by Rs 81.10 and Rs 76.40 respectively to close at Rs 892.10 and Rs 17,600.00 while Mari Petroleum Company and Atlas Honda Limited were the top losers declining by Rs 25.64 and Rs 19.82 respectively to close at Rs 3,262.64 and Rs 606.21.
An analyst at Topline Securities said Pakistan equities kicked off the day with the KSE-100 Index horsing around 78,000 psychological level by and large throughout the trading hours. However in the latter half of the session, an inexplicable selling spree threw the benchmark index below 77,500 zone where value hunters rescued the market by doing some cherry picking to concede the day at 77,746 levels (down 85 points or down 0.11 percent.
The confounded market behavior can be ascribed to absence of any positive trigger which can assist market to have strong sentiments.
Consequently, Banks, Fertilizer, Power and Technology sectors contributed negatively where BAHL, FFC, HUBC, MCB and SYS lost 186 points. On the contrary, UBL, NBP and MTL cumulatively added 166 points due to some buying interest observed in them.
BR Automobile Assembler Index increased by 80.71 points or 0.47 percent to close at 17,376.48 points with total turnover of 8.836 million shares.
BR Cement Index lost 26.93 points or 0.37 percent to close at 7,318.88 points with 30.339 million shares.
BR Commercial Banks Index added 77.59 points or 0.35 percent to close at 22,189.57 points with 21.979 million shares.
BR Power Generation and Distribution Index declined by 115.26 points or 0.64 percent to close at 17,927.88 points with 8.252 million shares.
BR Oil and Gas Index closed at 6,994.11 points, down 4.73 points or 0.07 percent with 7.035 million shares.
BR Tech. & Comm. Index inched up by 25.35 points or 0.63 percent to close at 4,028.44 points with 49.617 million shares.
Mohammed Waqar Iqbal at JS Global Capital said the local bourse witnessed muted activity as investors awaited catalysts to lift market sentiment.
Some buying interest was noted in banking and select Oil & Gas stocks.
Copyright Business Recorder, 2024
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