KARACHI: Pakistan Stock Exchange (PSX) on Thursday witnessed mixed trend as the market started on strong positive note however PKR weakening against US dollar eroded investor confidence and caused profit taking, triggering the index to close in red. The benchmark KSE-100 index hit 42,420.80 points intra-day high and 42,096.06 points intra-day low levels before closing at 42,137.04 points, down 89.01 points or 0.21 percent.
Daily trading volumes on ready counter increased to 267.572 million shares as compared to 250.266 million shares traded on Wednesday while total daily traded value on ready counter declined to Rs 6.281 billion against Rs 6.658 billion.
BRIndex100 lost 6.19 points or 0.15 percent to close at 4,226.91 points with total daily turnover of 198.277 million shares.
BRIndex30 inched down by 29.61 points or 0.19 percent to close at 15,885.00 points with total daily trading volumes of 149.974 million shares.
The foreign investors also remained net sellers of shares worth $75,476. Total market capitalization declined by Rs 4 billion to Rs 6.832 trillion. Out of total 340 active scrips, 159 closed in positive and 154 in negative while the value of 27 stocks remained unchanged.
Hascol Petroleum was the volume leader with 31.433 million shares and gained Rs 0.33 to close at Rs 6.73 followed by K-Electric that inched up by Rs 0.08 to close at Rs 2.99 with 22.894 million shares. G3 Technologies lost Rs 0.12 to close at Rs 9.96 with 21.106 million shares.
Siemens Pak and Pak Tobacco were the top gainers increasing by Rs 56.22 and Rs 55.78 respectively to close at Rs 805.84 and Rs 874.10 while Rafhan Maize and Sanofi-Aventis were the top losers declining by Rs 799.33 and Rs 62.45 respectively to close at Rs 10,000.00 and Rs 1,075.55.
An analyst at Arif Habib Limited said that the PSX had a mixed trading session. The market started out strong, but the Pak rupee’s weakening against the US dollar eroded investor confidence and caused profit-taking, triggering the index to close down. Main-board volumes were decent on the contrary 3rd tier stocks remained in the limelight.
Sectors contributing to the performance include Technology and Communication (down 56.7 points), Cement (down 30.0 points), Commercial Banks (down 24.4 points), Food and Personal Care Products (down 19.8 points) and E&P (down 18.1 points).
BR Automobile Assembler Index gained 33.52 points or 0.36 percent to close at 9,433.48 points with total turnover of 6.795 million shares.
BR Cement Index decreased by 33.01 points or 0.71 percent to close at 4,641.09 points with 15.728 million shares.
BR Commercial Banks Index lost 17.21 points or 0.21 percent to close at 8,226.40 points with 12.092 million shares.
BR Power Generation and Distribution Index increased by 108.29 points or 1.66 percent to close at 6,627.08 points with 34.101 million shares.
BR Oil and Gas Index inched down by 8.66 points or 0.23 percent to close at 3,726.23 points with 38.674 million shares.
BR Technology and Communication Index declined by 59.45 points or 1.34 percent to close at 4,374.48 points with 38.437 million shares.
Sara Saeed at JS Global Capital said that the market participation remained dull throughout the day as the benchmark index closed at 42,137, down 89 points.
Traded volume stood at 268 million shares where HASCOL (up 5.2 percent), KEL (up 2.7 percent), GTECH (down 1.2 percent), GGL (down 0.3 percent) and WTL (down 1.9 percent) were the volume leaders.
Copyright Business Recorder, 2022
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