KSE-100 Index inches up: BRIndex100 ends flat

KARACHI: Pakistan Stock Exchange Monday witnessed a mixed trend as investors avoided taking fresh positions besides foreign selling. BRIndex100 gained 2.92 points or 0.06 percent to close at 5,050.84 points. BRIndex100 hit intraday high of 5,078.11 points and intraday low of 5,042.19 points. Volumes stood at 309.956 million shares.

BRIndex30 closed at 24,806.64 points, down 303.72 points or 1.21 percent with a turnover of 155.958 million shares.

The KSE-100 Index inched up by 72.17 points or 0.15 percent to close at 47,270.46 points. Daily trading volumes on the ready counter decreased to 395.836 million shares as compared to 427.445 million shares traded last Friday.

Foreign investors remained net sellers of shares worth $8.051 million. Total market capitalization increased by Rs 21 billion to Rs 8.276 trillion. Out of total 519 active scrips, 290 closed in negative and 209 in positive while the value of 20 stocks remained unchanged.

Byco Petroleum was the volume leader with 44.967 million shares and closed at Rs 9.79, up Rs 0.01 followed by Service Fab (R ) that gained Rs 0.52 to close at Rs 3.30 with 42.152 million shares. Colgate Palmolive and Allawasaya Textile were the top gainers increasing by Rs 106.31 and Rs 101.12 respectively to close at Rs 2499.00 and Rs 1449.39 while Buxly Paints and Punjab Oil were the top losers declining by Rs 36.35 and Rs 16.00 respectively to close at Rs 448.44 and Rs 210.00.

BR Automobile Assembler Index gained 20.11 points or 0.22 percent to close at 9,372.76 points with total turnover of 3.672 million shares.

BR Cement Index lost 15.54 points or 0.23 percent to close at 6,603.00 points with 14.248 million shares.

BR Commercial Banks Index increased by 87.2 points or 0.92 percent to close at 9,532.53 points with 33.669 million shares.

BR Power Generation and Distribution Index added 48.74 points or 0.88 percent to close at 5,610.01 points with 8.101 million shares.

BR Oil and Gas Index inched up by 19.24 points or 0.5 percent to close at 3,876.52 points with 10.447 million shares.

BR Tech. & Comm. Index declined by 57.75 points or 1.1 percent to close at 5,198.26 points with 86.056 million shares.

An analyst at Arif Habib Limited said that the market consolidated the gains made in the previous sessions with profit booking in Technology, Cement, Steel and Refinery sectors, whereas the index got some support from Banks and Power sector.

Technology sector saw selling pressure that brought AVN and other tech stocks down, despite hitting a historic IPO of Octopus Digital in the previous week.

Sectors contributing to the performance include Banks (up 85 points), E&P (up 21 points), Power (up 20 points), Pharma (up 16 points), Technology (down 44 points) and Cement (down 17 points).

Stocks that contributed positively to the index include UBL (up 66 points), HBL (up 33 points), AGP (up 20 points), COLG (up 18 points) and HUBC (up 18 points). Stocks that contributed negatively include TRG (down 36 points), MEBL (down 35 points), BAHL (down 14 points), PIOC (down 8 points) and MLCF (down 8 points).

Copyright Business Recorder, 2021