KARACHI: Pakistan Stock Exchange Monday witnessed a mixed trend due to investors’ lack of interest due mainly to prevailing economic and political situation in the country.
The benchmark KSE-100 index hit 40,372.59 points intraday high and 40,182.37 points intraday low before closing at 40,246.67 points, up 41.13 points or 0.10 percent.
Trading activity also slightly improved as total daily volumes on ready counter increased to 94.781 million shares as compared to 89.187 million shares traded on previous session while total daily traded value on ready counter increased to Rs 3.056 billion against previous session’s Rs 2.766 billion.
BRIndex100 lost 2.49 points or 0.06 percent to close at 4,099.38 points with total daily turnover of 81.080 million shares.
BRIndex30 inched down by 10.99 points or 0.07 percent to close at 14,667.76 points with total daily trading volumes of 54.715 million shares.
Foreign investors remained net sellers of shares worth $8,947. Total market capitalization increased by Rs 15 billion to Rs 6.118 trillion. Out of total 316 active scrips, 151 closed in positive and 141 in negative while the value of 24 stocks remained unchanged.
WorldCall Telecom was the volume leader with 15.634 million shares and closed at Rs 1.16, down Rs 0.01 followed by Pakistan Aluminum that increased by Rs 3.45 to close at Rs 49.45 with 5.051 million shares. Telecard Limited gained Rs 0.06 to close at Rs 8.03 with 4.589 million shares.
Nestle Pakistan and Sapphire Textile were the top gainers increasing by Rs 104.75 and Rs 78.50 respectively to close at Rs 5250.00 and 1175.00 while Siemens Pak and Sapphire Fiber were the top losers declining by Rs 29.99 and Rs 23.95 respectively to close at Rs 570.01 and Rs 968.88.
An analyst at Arif Habib Limited said that a mixed session was recorded at the PSX to kick off the business week. The benchmark KSE-100 Index opened in green but traded in both directions, as investors still eye the ongoing negotiations between the government and IMF for the release of the long overdue tranche. Participation remained sluggish during trading hours, drying up volumes in the main board while 3rd tier scrips remained the volume leaders.
Sectors contributing to the performance include Fertilizer (up 50.5 points), Automobile Assembler (up 22.0 points), Power Generation & Distribution (up 20.1 points), Tobacco (up 14.8 points) and Automobile Parts & Accessories (up 5.6 points).
BR Automobile Assembler Index surged by 114.93 points or 1.52 percent to close at 7,659.73 points with total turnover of 929,509 shares.
BR Cement Index decreased by 30.26 points or 0.77 percent to close at 3,874.40 points with 4.834 million shares.
BR Commercial Banks Index lost 25.38 points or 0.31 percent to close at 8,232.37 points with 14.965 million shares.
BR Power Generation and Distribution Index increased by 77.37 points or 1.09 percent to close at 7,163.72 points with 5.947 million shares.
BR Oil and Gas Index inched down by 8.96 points or 0.23 percent to close at 3,932.75 points with 5.782 million shares.
BR Tech. & Comm. Index closed at 4,174.33 points, down 25.05 points or 0.6 percent with 23.003 million shares.
Muhammad Waqar Iqbal at JS Global Capital said that the bourse witnessed rangebound activity and the KSE-100 Index closed at 40,247, gaining 41 points versus previous trading session.
Traded volume stood at 95 million shares where WTL (down 0.9 percent), PABC (up 7.5 percent), TELE (up 0.8 percent), EPCL (down 3.3 percent) and LOTCHEM (up 2.9 percent) were the volume leaders.
Copyright Business Recorder, 2023
Comments
Comments are closed.