KARACHI: Pakistan Stock Exchange Tuesday witnessed a mixed trend and after moving in both directions, closed on a negative note. The benchmark KSE-100 Index hit 41,529.13 points intraday high and closed at its intraday low of 41,334.69 points, down 99.64 points or 0.24 percent.
Trading activity remained low as total daily volumes on ready counter decreased to 160.102 million shares as compared to 221.551 million shares traded Monday. The daily traded value on ready counter declined to Rs 5.338 billion against previous session’s Rs 7.252 billion.
BRIndex100 lost 3.74 points or 0.09 percent to close at 4,109.02 points with total daily turnover of 146.508 million shares.
BRIndex30 decreased by 50.73 points or 0.35 percent to close at 14,600.33 points with total daily trading volumes of 113.430 million shares. Foreign investors however remained net buyers of shares worth $168,323. Total market capitalization declined by Rs 11 billion to Rs 6.336 trillion. Out of total 322 active scrips, 161 closed in negative and 141 in positive while the value of 20 stocks remained unchanged.
Telecard Limited was the volume leader with 23.591 million shares and Rs 0.19 to close at Rs 7.12 followed by WorldCall Telecom that closed at Rs 1.29, down Rs 0.02 with 12.349 million shares. Maple Leaf Cement increased by Rs 0.99 to close at Rs 25.51 with 10.086 million shares.
Pak Tobacco and Sapphire Fiber were the top gainers increasing by Rs 46.35 and Rs 23.52 respectively to close at Rs 712.45 and Rs 1184.70 while Rafhan Maize and Pak Services were the top losers declining by Rs 489.01 and Rs 117.60 respectively to close at Rs 7511.00 and Rs 2192.40.
An analyst at Arif Habib Limited said that a mixed session was witnessed at the PSX. The benchmark KSE-100 Index opened in the positive zone but traded both ways throughout the trading session due to the prevailing political unrest. The main-board saw significantly lower volumes due to the investors’ lackluster participation.
Sectors contributing to the performance include E&P (down 56.0 points), Commercial Banks (down 38.4 points), OMCs (down 10.0 points), Food & Personal Care Products (down 7.5 points) and Automobile Assembler (down 6.2 points).
BR Automobile Assembler Index declined by 38.34 points or 0.51 percent to close at 7,538.86 points with total turnover of 2.054 million shares.
BR Cement Index increased by 92.73 points or 2.45 percent to close at 3,880.69 points with 33.339 million shares.
BR Commercial Banks Index decreased by 36.12 points or 0.44 percent to close at 8,249.96 points with 13.804 million shares.
BR Power Generation and Distribution Index inched down by 9.27 points or 0.13 percent to close at 6,974.79 points with 14.539 million shares.
BR Oil and Gas Index fell by 39.65 points or 0.98 percent to close at 3,991.20 points with 11.927 million shares.
BR Tech. & Comm. Index closed at 4,254.58 points, down 0.44 points or 0.01 percent with 45.033 million shares.
“Political noise kept investors away from the market as the KSE-100 Index volumes dipped to 88 million shares,” Muhammad Shuja Qureshi at JS Global Capital said.
Only cement sector managed to post decent gains on the back of drop in international coal prices, wherein PIOC closed at its upper circuit. TELE (up 2.7 percent), WTL (down 1.5 percent), MLCF (up 4.0 percent), KEL (down 1.9 percent) and PIOC (up 7.5 percent) led the volumes.
Copyright Business Recorder, 2023
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