KARACHI: Pakistan Stock Exchange Tuesday witnessed a mixed trend and after moving both ways, closed on a negative note as the investors opted to book profits on available margins.
The benchmark KSE-100 Index hit 42,149.29 points intraday high and 41,609.04 points intraday low before closing at 41,765.62 points, down 112.95 points or 0.27 percent.
Trading activity slightly improved as daily volumes on the ready counter increased to 257.163 million shares as compared to 247.901 million shares traded Monday. The daily traded value on the ready counter increased to Rs 7.708 billion against Monday’s Rs 7.378 billion.
BRIndex100 lost 24.52 points or 0.59 percent to close at 4,130.83 points with total daily turnover of 207.138 million shares.
BRIndex30 declined by 149.92 points or 0.98 percent to close at 15,200.51 points with total daily trading volumes of 148.277 million shares. Foreign investors remained net buyers of shares worth $490,800. The market capitalization increased by Rs 3 billion to Rs 6.975 trillion. Out of total 331 active scrips, 192 closed in negative and 123 in positive while the value of 16 stocks remained unchanged.
K-Electric was the volume leader with 28.048 million shares and gained Rs 0.04 to close at Rs 3.13 followed by Oilboy Energy (R) that lost Rs 0.55 to close at Rs 0.04 with 23.897 million shares. WorldCall Telecom closed at Rs 1.39, down Rs 0.04 with 17.069 million shares.
Nestle Pakistan and Bata Pak were the top gainers increasing by Rs 290.00 and Rs 155.10, respectively to close at Rs 5,990.00 and Rs 2,288.00 while Siemens Pak and Mari Petroleum were the top losers declining by Rs 30.01 and Rs 21.48, respectively to close at Rs 649.99 and Rs 1,769.49.
An analyst at Arif Habib Limited said the benchmark KSE-100 Index witnessed an under pressure session as investors opted to book profits. Main board activity remained dry whereas hefty volumes were recorded in the 3rd tier stocks.
Sectors contributing to the performance include Banks (down 61.4 points), Fertilizer (down 48.5 points), Technology (down 21.0 points), OMC (down 19.6 points) and Chemical (down 13.9 points).
BR Automobile Assembler Index gained 33.42 points or 0.33 percent to close at 10,009.97 points with total turnover of 2.849 million shares.
BR Cement Index increased by 51.36 points or 1.27 percent to close at 4,107.08 points with 23.617 million shares.
BR Commercial Banks Index decreased by 61.51 points or 0.71 percent to close at 8,655.58 points with 13.279 million shares.
BR Power Generation and Distribution Index lost 29.19 points or 0.52 percent to close at 5,538.36 points with 31.759 million shares.
BR Oil and Gas Index inched down by 17.62 points or 0.46 percent to close at 3,772.37 points with 14.446 million shares.
BR Tech. & Comm. Index closed at 3,355.52 points, down 28.08 points or 0.83 percent with 44.806 million shares.
An analyst at Topline Securities said that Pakistan equities closed on a negative note where benchmark KSE-100 Index settled at 41,765 level, down 0.27 percent.
Tough economic conditions let the market to trade in rangebound trajectory where the KSE-100 Index traded in a range of 535 points as the market make an intraday high of plus 271 points and a low of minus 264 points.
LUCK, NESTLE and POL were the major gainers in the trading session cumulatively added 71 points, where on the flip side FFC, BAHL and PSO were the major decliner cumulatively dented the Index by 77 points.
Copyright Business Recorder, 2022
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