KARACHI: Pakistan Stock Exchange on Tuesday opened on positive note; however; selling pressure forced the market into red zone as the investors opted to book profit in various sectors.
The benchmark KSE-100 index declined by 312.18 points or 0.48 percent and closed at 64,349.60 points. During the session, the index crossed 65,000 psychological level to hit 65,333.70 points intra-day high however dropped in negative zone to hit 64,213.63 points intra-day low level.
Trading activities improved as total daily volumes on ready counter increased to 671.665 million shares as compared to 625.147 million shares traded on Monday while total daily traded value on ready counter increased to Rs 24.451 billion against previous session’s Rs 18.525 billion.
BRIndex100 lost 27.93 points or 0.42 percent to close at 6,635.91 points with total daily turnover of 612.125 million shares.
BRIndex30 closed at 23,993.14 points, up 37.28 points or 0.16 percent with total daily trading volumes of 459.709 million shares.
Total market capitalization declined by Rs 51 billion to Rs 9.292 trillion. Out of total 378 active scrips, 252 closed in negative and 105 in positive while the value of 21 stocks remained unchanged.
K-Electric was the volume leader with 79.854 million shares however lost Rs 0.14 to close at Rs 5.30 followed by WorldCall Telecom that inched down by Rs 0.04 to close at Rs 1.53 with 46.483 million shares. Bank of Punjab closed at Rs 6.88, down Rs 0.06 with 34.951 million shares.
Sapphire Textile Mills and Hoechst Pakistan were the top gainers increasing by Rs 86.76 and Rs 31.53 respectively to close at Rs 1,569.68 and Rs 1,320.00 while Pakistan Tobacco Company and Mari Petroleum Company were the top losers declining by Rs 58.47 and Rs 47.11 respectively to close at Rs 1,072.11 and Rs 2,100.19.
An analyst at Topline Securities said that Pakistan equities market concluded at 64,349, reflecting a decline of 312 points or 0.48 percent. Throughout the trading day, the index demonstrated volatility within a range of 1,120 points, reaching an intraday high of 65,333.70 (up 671.92 points) and a low of 64,213.63 (down 448.16 points).
Adverse movements during the trading hours were observed in HUBC, MARI, SYS, ENGRO, and LUCK, collectively incurring a loss of 176 points. Conversely, stocks like PPL, OGDC, and MEBL contributed to a combined gain of 112 points.
BR Automobile Assembler Index decreased by 94.0 points or 0.67 percent to close at 14,010.56 points with total turnover of 4.729 million shares.
BR Cement Index lost 9.05 points or 0.13 percent to close at 7,004.39 points with 66.633 million shares.
BR Commercial Banks Index closed at 15,593.32 points, up 0.15 points with 59.375 million shares.
BR Power Generation and Distribution Index declined by 239.08 points or 1.62 percent to close at 14,517.63 points with 91.385 million shares.
BR Oil and Gas Index inched down by 1.62 points or 0.03 percent to close at 6,180.66 points with 101.114 million shares.
BR Tech. & Comm. Index fell by 52.41 points or 1.26 percent to close at 4,096.55 points with 109.010 million shares.
“After posting an intra-day gain of 672 points, the KSE-100 index saw profit-taking and the index closed at 64,350, losing 312 points”, Muhammad Shuja Qureshi at JS Global Capital said.
OGDC and PPL stayed strong and ended the day in green. In addition, MEBL, UBL, and HBL also posted gains.
The market turnover increased to 672 million shares, where KEL, WTL, BOP, PPL and FCCL were the volume leaders.
Copyright Business Recorder, 2024
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