KARACHI: Pakistan Stock Exchange remained range bound during the outgoing week ended on January 28, 2022 and closed in positive with meagre gains as the investors remained cautious and avoided to take fresh positions.
The benchmark KSE-100 index closed at 45,077.91 points with meagre gains of only 59.63 points on week-on-week basis. Trading activities remained low as average daily volumes on ready counter decreased by 6.8 percent to 187.41 million shares as compared to previous week’s average of 201.18 million shares. Average daily traded value on ready counter declined by 8.7 percent and stood at Rs 6.78 billion.
BRIndex100 inched up by 25.29 points on week-on-week basis to close at 4,623.79 points with average daily turnover of 164.275 million shares.
BRIndex30 increased by 174.79 points during this week to close at 17,919.47 with average daily trading volumes of 118.702 million shares.
The foreign investors stood as net sellers of shares worth $4.0 million during this week, together with Other Organizations and Individuals with net sell of $15 million and $4.4 million respectively. On the other side of the scale, Companies and Mutual Funds were the major buyers with a net buy of $19.4 million and $4.7 million respectively. Total market capitalization declined by Rs 17 billion to Rs 7.715 trillion.
“After losing 1.63 percent on week-on-week basis in the previous week, the KSE-100 index remained flattish in the outgoing week where investors preferred to stay on the backseat and wait for the SBP amendment bill to pass, the last prior action needed to be complete for the release of $1.0 billion tranche by IMF”, an analyst at AKD Securities said.
After tabling it in senate this morning, the government was able to pass the bill with 43 votes in favour and 42 votes in opposition, he added.
Unexpectedly, the market did not react much on this event due to liquidity hitches and the last day of rollover week due to which the market players adopted a cautious approach.
Sector-wise, Closed-End Mutual Funds stood as the top performers with a gain of 6.5 percent while the Woolen sector (down 6.1 percent) stood as the major underperformer.
Stock wise, top gainers were ARPL (up 10.0 percent), BAFL (up 7.1 percent), UNITY (up 6.3 percent), HGFA (up 5.2 percent) and ANL (up 4.0 percent) while top laggards were, FFBL (down 13.5 percent), BNWM (down 6.1 percent), HCAR (down 6.1 percent), SYS (down 5.6 percent) and COLG (down 5.6 percent).
An analyst at JS Global Capital said that the KSE-100 Index remained flattish during the week closing at 45,078 points, up by 0.1 percent on week-on-week basis.
Sector wise, Cements remained among top performers (up by 1.2 percent) while on the other hand Technology sector remained among underperformers declining by 1.9 percent.
Largest selling was witnessed in the Technology Sector ($2.3 million) followed by the Cement Sector ($1.2 million) and the Fertilizer Sector ($1.1 million).
Copyright Business Recorder, 2022
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