KARACHI: Pakistan Stock Exchange on Monday remained under pressure and closed in red zone due to selling as the investors opted to book profit on available margins.
The benchmark KSE-100 index plunged by 1,331.86 points or 1.13 percent and closed at 116,255.13 points. The market opened on positive note and the index crossed 118,000 level to hit 118,735.10 points intra-day high, however dropped into negative zone at 115,941.95 points intra-day low due to selling pressure.
Trading activities remained low as total daily volumes on ready counter decreased to 819.805 million shares as compared to 935.783 million shares traded on last Friday while total daily traded value on the ready counter declined to Rs 38.326 billion against previous session’s Rs 39.620 billion.
BRIndex100 decreased by 261.35 points or 2.1 percent to close t 12,163.21 points with total daily turnover of 703.524 million shares.
BRIndex30 declined by 1,044.47 points or 2.79 percent to close at 36,448.48 points with total daily trading volumes of 478.497 million shares.
The foreign investors however remained net buyers of shares worth $573,062. Total market capitalization declined by Rs 71 billion to stand at Rs 14.562 trillion. Out of total 458 active scrips, 291 closed in negative and 113 in positive while the value of 54 stocks remained unchanged.
Cnergyico PK was the volume leader with 83.169 million shares however lost Rs 0.14 to close at Rs 7.41 followed by Fauji Foods that declined by Rs 0.91 to close at Rs 18.41 with 47.302 million shares. WorldCall Telecom closed at Rs 1.65, down Rs 0.05 with 41.293 million shares.
Murree Brewery Company and JDW Sugar Mills were the top gainers increasing by Rs 63.08 and Rs 44.25 respectively to close at Rs 782.55 and Rs 747.89 while Rafhan Maize Products Company and Hallmark Company were the top losers declining by Rs 138.96 and Rs 103.85 respectively to close at Rs 8,855.00 and Rs 947.22.
An analyst at Topline Securities said that the local bourse experienced a profit-booking day as investors opted to cash in on recent gains. The benchmark KSE-100 Index exhibited significant volatility, recording an intraday high of plus 1,148 points and a sharp intraday low of minus 1,645 points.
The day’s bearish sentiment was largely influenced by concerns in the gas sector, following reports of a significant rise in circular debt. This concerning development dampened investor confidence, leading to widespread profit-taking across the board.
The cement sector extended its downward trend as investors chose to book profits, spurred by reports of disagreements among cement players. While some are advocating for an increased market share, others are favouring adjustments in geographic sales to secure higher retention prices.
Key contributors to the upward trajectory included ENGROH, HMB, AICL, MCB, and MUREB, collectively adding 395 points. On the other hand, substantial declines in OGDC, PSO, FFC, EFERT, and SNGP weighed heavily on the market, accounting for a combined loss of 698 points.
BR Automobile Assembler Index decreased nu 199.58 points or 0.91 percent to close at 21,852.23 points with total turnover of 10.476 million shares.
BR Cement Index declined by 171.65 points or 1.55 percent to close at 10,926.08 points with 66.588 million shares.
BR Commercial Banks Index fell by 148.38 points or 0.49 percent to close at 30,277.96 points with 37.607 million shares.
BR Power Generation and Distribution Index gained 23.43 points or 0.13 percent to close at 18,514.46 points with 53.276 million shares.
BR Oil and Gas Index plunged by 427.69 points or 3.36 percent to close at 12,295.31 points with 48.766 million shares.
BR Tech & Comm Index eroded 166.07 points or 2.91 percent to close at 5,531.80 points with 112.999 million shares.
Ali Najib at Insight Securities said consolidation continues at PSX as the KSE-100 index floated in both directions and ultimately called the day at 116,255 levels, by shedding 1,332 points or down 1.13 percent.
He said deteriorating law and order situation in Balochistan, Finance Minister comments on State Owned Energy Companies where he highlighted that financials systems in them is not up to the mark and considerable increase in PSO’s receivable put weigh on the market sentiment generally and in oil and gas sector particularly.
Therefore, E&P, OMC and Fertilizer received profit taking as OGDC, PSO, FFC, EFERT and SNGP cumulatively lost 700 to the index. On the other side, ENGROH received massive buying interest on its debut day and added 246 points followed by HMB (added 47 points) and AICL (added 42 points).
Copyright Business Recorder, 2025
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