KARACHI: Pakistan Stock Exchange (PSX) on Friday remained under pressure and closed in deep red with heavy losses due to political unrest in the country.
The benchmark KSE-100 index plunged by 462.52 points or 1.11 percent and closed at 41,140.34 points. During the session, the index hit 41,643.20 points intra-day high and 41,116.77 points intra-day low level during the session.
Trading activities remained very thin as total daily volumes on ready counter decreased to 177.761 million shares as compared to 203.560 million shares traded on Thursday while total daily traded value on ready counter declined to Rs 4.656 billion against previous session’s Rs 6.364 billion.
BRIndex100 decreased by 62.36 points or 1.51 percent to close at 4,080.99 points with total daily turnover of 153.128 million shares.
BRIndex30 declined by 427.75 points or 2.79 percent to close at 14,899.10 points with total daily trading volumes of 113.957 million shares.
The foreign investors however remained on the buying side with net fresh inflow of $854,505. Total market capitalization declined by Rs 68 billion to Rs 6.673 trillion. Out of total 322 active scrips, 220 closed in negative and only 87 in positive while the value of 15 stocks remained unchanged.
WorldCall Telecom was the volume leader with 25.722 million shares however lost Rs 0.08 to close at Rs 1.32 followed by K-Electric that inched down by Rs 0.07 to close at Rs 2.73 with 13.204 million shares. Cnergyico PK closed at Rs 4.66, down Rs 0.14 with 10.383 million shares.
Sapphire Fiber and Premium Textile were the top gainers increasing by Rs 81.46 and Rs 46.01 respectively to close at Rs 1,259.00 and Rs 698.00 while Bata Pak and Colgate Palmolive were the top losers declining by Rs 140.00 and Rs 29.18 respectively to close at Rs 1,960.00 and Rs 2,039.00.
An analyst at Topline Securities said that the KSE-100 Index largely remained under pressure during the trading session, as index lost value to close at 41,140 level, down by 1.11 percent.
Major positive contribution to the index came from FABL, JVDC, SYS, FFC and HCAR, as they cumulatively contributed 40 points to the index. On the flip side ENGRO, TRG, PSO, PPL and LUCK lost value to weigh down on the index by 367 points.
BR Automobile Assembler Index declined by 196.92 points or 2.21 percent to close at 8,726.15 points with total turnover of 3.869 million shares.
BR Cement Index plunged by 106.13 points or 2.37 percent to close at 4,371.66 points with 8.384 million shares.
BR Commercial Banks Index inched up by 1.06 points or 0.01 percent to close at 8,179.79 points with 13.980 million shares.
BR Power Generation and Distribution Index decreased by 103.37 points or 1.58 percent to close at 6,438.80 points with 25.460 million shares.
BR Oil and Gas Index fell by 75.65 points or 2.04 percent to close at 3,626.50 points with 13.547 million shares.
BR Tech. & Comm. Index closed at 4,120.50 points, down 105.55 points or 2.5 percent with 46.404 million shares.
Sara Saeed at JS Global Capital said that selling pressure continued taking the index to close at the level of 41,140, losing 463 points.
Traded volume stood at 178 million shares declining by 13 percent. Major volume contributors today were WTL (down 5.7 percent) KEL (down 2.5 percent), CNERGY (down 2.9 percent), FFL (down 6.7 percent) and PRL (down 4.1 percent).
Copyright Business Recorder, 2022
Comments
Comments are closed.