KARACHI: Pakistan Stock Exchange Wednesday opened on a positive note and remained bullish most of the day, however profit-taking at the fag end minimized intraday gains and hence, closed almost flat. The benchmark KSE-100 Index hit 46,219.77 points intra-day high and 45,877.45 points intraday low level and closed at 45,916.25 points, up only 35.12 points or 0.08 percent. Trading activities improved significantly as daily volumes on ready counter increased to 514.384 million shares as compared to 339.102 million shares traded on Tuesday while traded value on ready counter increased to Rs 10.603 billion against previous day’s Rs 9.747 billion.
BRIndex100 gained 3.83 points or 0.08 percent to close at 4,748.52 points with a turnover of 421.234 million shares.
BRIndex30 lost 58.94 points or 0.3 percent to close at 19,726.82 points with total daily trading volumes of 310.997 million shares.
Foreign investors remained net buyers of shares worth $55,857. Total market capitalization increased by Rs 12 billion to Rs 7.862 trillion. Out of total 377 active scrips, 176 closed in positive and 169 in negative while the value of 32 stocks remained unchanged.
WorldCall Telecom was the volume leader with 133.908 million shares and gained Rs 0.10 to close at Rs 2.53 followed by Unity Foods (R3) that closed at Rs 2.85, up Rs 0.15 with 39.147 million shares.
Unilever Foods and Sapphire Fiber were the top gainers increasing by Rs 649.00 and Rs 52.27 respectively to close at Rs 20149.00 and Rs 903.27 while Nestle Pakistan and Rafhan Maize were the top losers declining by Rs 179.94 and Rs 50.00 respectively to close at Rs 5510.06 and Rs 9850.00.
An analyst at Arif Habib Limited said that the market opened on a positive note and managed to remain positive during the day. Index went up to 339 points and closed 35.12 points although activity remained ranged bound with sluggish activity and profit taking was witnessed once again across the board. However, market witnessed good volumes in 3rd tier Stocks.
Sectors contributing to the performance include E&P (up 53.4 points), Fertilizer (up 21.1 points), Textile Composite (up 10.6 points), Power (up 10.1 points) and Inv. Banks (up 5.4 points).
BR Automobile Assembler Index gained 8.74 points or 0.1 percent to close at 8,638.31 points with 3.732 million shares.
BR Cement Index lost 15.9 points or 0.27 percent to close at 5,837.05 points with 10.049 million shares.
BR Commercial Banks Index closed at 10,170.29 points, down 5.0 points or 0.05 percent with 17.547 million shares.
BR Power Generation and Distribution Index inched up by 19.84 points or 0.33 percent to close at 6,062.09 points with 11.541 million shares.
BR Oil and Gas Index added 37.63 points or 0.98 percent to close at 3,886.47 points with 36.068 million shares.
BR Tech. & Comm. Index decreased by 28.18 points or 0.66 percent to close at 4,213.00 points with 202.022 million shares.
An analyst at Topline Securities said that the Pakistan equities closed on almost flat level where benchmark KSE-100 Index settled at 45,916 level, up 0.08 percent.
The market opened on a positive note making an intraday high of 339 points, where major interest were witnessed in E&Ps Sector on account of higher international oil prices. However, this positivity didn’t sustain at the bourse as market witnessed profit taking in the last hours.
Copyright Business Recorder, 2022
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