KARACHI: Pakistan Stock Exchange (PSX) on Tuesday witnessed a volatile session and after moving in both directions, closed on a negative note due to selling pressure on investor concerns over political noise in the country.
The benchmark KSE-100 Index hit 64,786.35 points intraday high and 63,878.22 points intraday low before closing at 64,170.58 points, down 66.45 points or 0.10 percent.
Trading activity also remained low as daily volumes on the ready counter decreased to 448.990 million shares as compared to 484.012 million shares traded Monday. The daily traded value on the ready counter declined to Rs 12.281 billion against previous session’s Rs 12.744 billion.
BRIndex100 inched up by 2.74 points or 0.04 percent to close at 6,604.77 points with total daily turnover of 386.608 million shares.
BRIndex30 lost 86.90 points or 0.37 percent to close at 23,667.21 points with total daily trading volumes of 322.476 million shares.
Foreign investors remained net buyers of shares worth $883,120. Total market capitalization increased by Rs 4 billion to Rs 9.323 trillion. Out of total 352 active scrips, 187 closed in negative and 141 in positive while the value of 24 stocks remained unchanged.
K-Electric was the volume leader with 113.954 million shares however lost Rs 0.15 to close at Rs 5.75 followed by Hascol Petroleum that gained Rs 0.45 to close at Rs 8.00 with 36.113 million shares. P.I.A.C. (A) inched up by Rs 0.63 to close at Rs 8.99 with 19.810 million shares.
Sapphire Fibres and Pak Suzuki Motor Company were the top gainers increasing by Rs 119.00 and Rs 54.25 respectively to close at Rs 1,784.00 and Rs 777.56 while Nestle Pakistan and Bata Pakistan were the top losers declining by Rs 50.00 and Rs 40.98 respectively to close at Rs 8,200.00 and Rs 1,678.01.
An analyst at Topline Securities said that Pakistan equities wrapped up the day at 64,170, reflecting a marginal decline of 66 points or 0.10 percent. Throughout the trading session, the index displayed volatility, swinging within a range of 908 points. It reached an intraday high of 64,786 and a low of 63,878.
Negative movements were observed in SYS, PSEL, MEBL, OGDC, and HBL, collectively causing a loss of 92 points. Conversely, EFERT, ENGRO, and BAHL contributed to a combined gain of 96 points.
BR Automobile Assembler Index increased by 390.06 points or 2.67 percent to close at 14,989.39 points with total turnover of 9.302 million shares.
BR Cement Index fell by 28.18 points or 0.41 percent to close at 6,814.10 points with 12.517 million shares.
BR Commercial Banks Index lost 19.92 points or 0.13 percent to close at 15,352.77 points with 29.201 million shares.
BR Power Generation and Distribution Index decreased by 50.14 points or 0.34 percent to close at 14,608.93 points with 118.116 million shares.
BR Oil and Gas Index inched down by 16.95 points or 0.28 percent to close at 6,115.23 points with 57.977 million shares.
BR Tech. & Comm. Index closed at 3,934.14 points, down 33.7 points or 0.85 percent with 48.330 million shares.
“Despite a positive start, market remained volatile during the day resulting in lower participation with volumes falling to 449 million shares,” Muhammad Shuja Qureshi at JS Global Capital said.
Auto sector performed well as HCAR, PSMC, and SAZEW closed limit up. KEL (down 2.5 percent), HASCOL (up 6.0 percent), PIAA (up 7.5 percent), PAEL (up 2.5 percent) and WTL (down 0.7 percent) were volume leaders.
Copyright Business Recorder, 2024
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