KARACHI: Pakistan Stock Exchange on Wednesday witnessed a mixed trend and after moving in both directions, closed on a negative note due to selling pressure on investor concern over geopolitical situation.
The benchmark KSE-100 Index declined by 170.13 points or 0.27 percent and closed at 63,567.34 points. The index hit 64,043.87 points intraday high and 63,290.18 points intraday low.
The daily trading volumes on ready counter increased to 421.331 million shares as compared to 407.543 million shares traded on Tuesday. The daily traded value on the ready counter increased to Rs 18.579 billion against previous session’s Rs 12.646 billion.
BRIndex100 lost 16.42 points or 0.25 percent to close at 6,526.81 points with total daily turnover of 387.418 million shares.
BRIndex30 plunged by 401.39 points or 1.7 percent to close at 23,241.29 points with total daily trading volumes of 279.887 million shares.
Foreign investors also remained net sellers and withdrew $2.217 million from the local equity market. Total market capitalization declined by Rs 21 billion to Rs 9.310 trillion. Out of total 332 active scrips, 203 closed in negative and 111 in positive while the value of 18 stocks remained unchanged.
P.T.C.L. was the volume leader with 45.978 million shares and gained Rs 0.45 to close at Rs 14.02 followed by K-Electric that lost Rs 0.20 to close at Rs 5.59 with 41.567 million shares. Treet Corp increased by Rs 1.06 to close at Rs 20.05 with 36.390 million shares.
Philip Morris Pakistan and Bata Pakistan were the top gainers increasing by Rs 51.24 and Rs 33.00 respectively to close at Rs 734.50 and Rs 1,733.00 while Rafhan Maize Products Company and Pak Suzuki Motor Company were the top losers declining by Rs 401.50 and Rs 53.74 respectively to close at Rs 8,801.00 and Rs 662.77.
Muhammad Shuja Qureshi at JS Global Capital said that the KSE-100 Index lost 170 points to close at 63,567 where selling in Refinery sector dented the overall sentiment.
In addition, selling continued in OGDC, PPL, and PSO. However, buying was witnessed in selective stocks notably ENGRO (up 3.2 percent), EFERT (up 2.7 percent), MEBL (up 2.7 percent), UBL (up 2.1 percent), and MARI (up 1.3 percent).
The market turnover increased to 421 million shares, where PTC (up 3.3 percent), KEL (down 3.5 percent), TREET (up 5.6 percent), PIAA (down 2.2 percent), and FFBL (down 6.6 percent) were the volume leaders.
BR Automobile Assembler Index plunged by 258.21 points or 1.76 percent to close at 14,376.90 points with total turnover of 3.846 million shares.
BR Cement Index decreased by 57.23 points or 0.86 percent to close at 6,574.59 points with 13.789 million shares.
BR Commercial Banks Index gained 89.61 points or 0.58 percent to close at 15,417.08 points with 31.380 million shares.
BR Power Generation and Distribution Index declined by 235.53 points or 1.62 percent to close at 14,339.52 points with 48.660 million shares.
BR Oil and Gas Index lost 25.26 points or 0.4 percent to close at 6,229.16 points with 55.418 million shares.
BR Tech. & Comm. Index fell by 47.11 points or 1.21 percent to close at 3,838.24 points with 76.925 million shares.
An analyst at Topline Securities said Pakistan equities moved in both directions as bullish and bearish forces confronted throughout the session to take the helm at PSX. However, bears emerged as a winner as the KSE-100 index called the day at 63,567 levels, down 170 points or 0.67 percent.
Investors chose to do switching between selective stocks of Power, Energy, Fertilizer, Auto, Tech and Cement sectors. Resultantly, HUBC, PPL, FFBL, MTL, TRG and LUCK lost 236 points, cumulatively. On the other side, ENGRO, EFERT, MEBL and UBL collectively added 253 points as they witnessed rejuvenated buying interest in them.
Copyright Business Recorder, 2024
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