KARACHI: Pakistan Stock Exchange Wednesday remained under pressure throughout the day due to concerns regarding uncertain economic situation, however, it managed to close on positive note due to fresh buying in certain stocks.
The benchmark KSE-100 Index hit 40,098.82 points intraday high and 39,605.83 points intraday low level before closing at 39,972.64 points, up 78.59 points or 0.20 percent.
Trading activity remained low as total volumes on ready counter decreased to 121.575 million shares as compared to 131.861 million shares traded on Tuesday while total traded value on ready counter declined to Rs 4.149 billion against previous day’s Rs 4.205 billion.
BRIndex100 gained 11.29 points or 0.29 percent to close at 3,942.17 points with total daily turnover of 111.515 million shares.
BRIndex30 inched up by 38.49 points or 0.27 percent to close at 14,469.87 points with total daily trading volumes of 79.100 million shares.
Foreign investors remained net sellers of shares worth $899,216. Total market capitalization increased by Rs 8 billion to Rs 6.751 trillion. Out of total 321 active scrips, 153 closed in positive and 141 in negative while the value of 27 stocks remained unchanged.
Lotte Chemical was the volume leader with 10.211 million shares and increased by Rs 1.50 to close at Rs 28.50 followed by WorldCall Telecom that lost Rs 0.02 to close at Rs 1.18 with 9.264 million shares. TPL Properties closed at Rs 17.27, down Rs 0.05 with 9.016 million shares.
Rafhan Maize and Premium Textile were the top gainers increasing by Rs 110.00 and Rs 50.57 respectively to close at Rs 11,100.00 and Rs 726.90 while Bata Pak and Nestle Pakistan were the top losers declining by Rs 141.58 and Rs 108.13 respectively to close at Rs 2,022.00 and Rs 5,890.00.
An analyst at Topline Securities said that Pakistan equities closed slight positive where benchmark KSE-100 Index settled at 39,972 level, up 0.20 percent. Range bound activity witnessed at the bourse where KSE-100 Index traded in a range of 492 points as market made an intraday high of plus 203 points to 40,097 and a low of minus 289 points to 39,605 level. Investors’ interest was mostly witnessed in EPCL and LOTCHEM where EPCL close at its upper circuit and LOTCHEM close 5.56 percent higher.
BR Automobile Assembler Index declined by 151.51 points or 1.64 percent to close at 9,097.00 points with total turnover of 824,330 shares.
BR Cement Index gained 15.88 points or 0.43 percent to close at 3,735.47 points with 9.429 million shares.
BR Commercial Banks Index increased by 70.63 points or 0.86 percent to close at 8,252.83 points with 8.620 million shares.
BR Power Generation and Distribution Index fell by 16.54 points or 0.31 percent to close at 5,320.50 points with 5.405 million shares.
BR Oil and Gas Index inched down by 4.63 points or 0.12 percent to close at 3,748.49 points with 6.633 million shares.
BR Tech. & Comm. Index closed at 3,343.43 points, up 27.77 points or 0.84 percent with 19.027 million shares.
An analyst at Arif Habib Limited said that the PSX continued to remain under pressure throughout the day due to concerns regarding uncertain economic situation. The benchmark KSE-100 Index witnessed a volatile session as investors opted to remain sideways as Pak rupee continued its freefall against US dollar. Main board volumes remained dry whereas decent volumes were observed in the 3rd-tier stocks.
Sectors contributing to the performance include Banks (up 76.9 points), Chemicals (up 54.2 points), Technology (up 27.5 points), Engineering (up 14.4 points) and Cement (up 10.1 points).
Copyright Business Recorder, 2022
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