KARACHI: Pakistan Stock Exchange on Tuesday witnessed range-bound session and after moving in both directions finally closed on slight positive note.
The benchmark KSE-100 index hit 40,739.98 points intra-day high and 40,507.18 points intra-day low before closing at 40,653.03 points, up 31.81 points or 0.08 percent.
Trading activities remained extremely low as total daily volumes on ready counter decreased to 124.856 million shares as compared to 179.780 million shares traded on Monday while total daily traded value on ready counter declined to Rs 4.031 billion against previous session’s Rs 5.624 billion.
BRIndex100 gained 9.64 points or 0.24 percent to close at 4,006.05 points with total daily turnover of 104.971 million shares.
BRIndex30 increased by 98.08 points or 0.72 percent to close at 13,753.81 points with total daily trading volumes of 70.402 million shares.
The foreign investors remained net buyers of shares worth $1.292 million. Total market capitalization declined by Rs 5 billion to Rs 6.262 trillion. Out of total 311 active scrips, 179 closed in negative and 106 in positive while the value of 26 stocks remained unchanged.
K-Electric was the volume leader with 9.921 million shares and closed at Rs 1.59, up Re 0.01 followed by WorldCall Telecom that inched up by Re 0.02 to close at Rs 1.14 with 6.986 million shares. Hascol Petroleum gained Re 0.09 to close at Rs 5.75 with 6.737 million shares.
Nestle Pakistan and Bata Pak were the top gainers increasing by Rs 100.00 and Rs 99.57 respectively to close at Rs 6650.00 and Rs 1835.57 while Rafhan Maize and Mehmood Textile were the top losers declining by Rs 149.00 and Rs 79.90 respectively to close at Rs 8350.00 and Rs 985.43.
An analyst at Arif Habib Limited said that a range-bound session was recorded at the PSX. The market opened in the green but traded in both directions due to the impending negotiation between the government and IMF for the 9th review of the Extended Fund Facility. Investors chose to remain invested in the E&P sector that helped market to close in the positive zone. Overall Market activity remained sideways owing to the economic situation of the country. Volumes remained dull while the 3rd tier equities led the volume board.
Sectors contributing to the performance include E&P (up 61.2 points), OMCs (up 28.5 points), Technology & Communication (up 21.6 points), Power Generation & Distribution (up 16.6 points) and Inv Banks / Inv Cos / Securities Cos (up 12.3 points).
BR Automobile Assembler Index declined by 125.96 points or 1.61 percent to close at 7,684.47 points with total turnover of 673,898 shares.
BR Cement Index inched down by 7.38 points or 0.16 percent to close at 4,474.63 points with 7.470 million shares.
BR Commercial Banks Index lost 21.86 points or 0.27 percent to close at 8,200.44 points with 11.661 million shares.
BR Power Generation and Distribution Index gained 34.53 points or 0.5 percent to close at 7,009.72 points with 14.274 million shares.
BR Oil and Gas Index increased by 51.74 points or 1.39 percent to close at 3,773.72 points with 27.249 million shares.
BR Tech & Comm Index added 21.29 points or 0.59 percent to close at 3,606.78 points with 16.248 million shares.
Mubashir Anis Naviwala at JS Global Capital said the market opened on a positive note but remained range-bound throughout the day closing at 40,653, gaining 32 points.
Trading volumes remained dull as only 125 million shares were traded where KEL (up 0.6 percent), WTL (up 1.8 percent), HASCOL (up 1.6 percent), CNERGY (down 1.0 percent) and PPL (up 2.1 percent) were the major contributors.
Copyright Business Recorder, 2023
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