KARACHI: Pakistan Stock Exchange on Monday remained under pressure and closed on a negative note as investors opted to book profit before Eid holidays.
The benchmark KSE-100 Index declined by 208.79 points or 0.31 percent and closed at 66,796.32 points. During the session, the index hit 67,304.37 points intra-day high level, however failed to continue this trend and dropped into negative zone to hit 66,740.91 points intra-day low due to selling pressure.
Trading activity also remained low as total daily volumes decreased to 238.829 million shares as compared to 313.035 million shares traded on last Friday while total daily traded value on the ready counter declined to Rs 8.365 billion against previous session’s Rs 9.899 billion.
BRIndex100 lost 9.76 points or 0.14 percent to close at 6,909.47 points with total daily turnover of 201.018 million shares.
BRIndex30 decreased by 133.11 points or 0.59 percent to close at 22,450.87 points with total daily trading volumes of 127.335 million shares.
Foreign investors however remained net buyers of shares worth $45,836. Total market capitalization declined by Rs 41 billion to stand at Rs 9.406 trillion. Out of total 335 active scrips, 176 closed in negative and 139 in positive while the value of 20 stocks remained unchanged.
P.I.A.C. (A) was the volume leader with 39.967 million shares however declined by Rs 2.26 to close at Rs 29.28 followed by Agritech Limited that increased by Rs 1.55 to close at Rs 28.33 with 31.101 million shares. P.T.C.L. decreased by Rs 1.33 to close at Rs 16.94 with 21.231 million shares.
Rafhan Maize Products Company and Hallmark Company were the top gainers increasing by Rs 75.00 and Rs 34.42 respectively to close at Rs 8,250.00 and Rs 536.47 while Sapphire Fibres and Mari Petroleum Company were the top losers declining by Rs 95.00 and Rs 19.48 respectively to close at Rs 1,405.00 and Rs 2,517.51.
An analyst at Topline Securities said that the trading session in Pakistan’s stock market wrapped up with the index closing at 66,796, indicating a marginal decline of 0.31 percent or 209 points. Throughout the day, the index displayed a mixed performance, hitting intraday highs and lows at 67,304 and 66,741 points, respectively.
Oil & Gas, IT, Textile, and Cement sectors contributed negatively to the index’s movement, companies including OGDC, SYS, PTC, LUCK, and ILP collectively shed 133 points. On the flip side, HUBC, MEBL, and FABL made positive contributions, adding a combined total of 67 points.
BR Automobile Assembler Index increased by 81.02 points or 0.52 percent to close at 15,709.07 points with total turnover of 7.252 million shares.
BR Cement Index declined by 53.47 points or 0.82 percent to close at 6,454.44 points with 5.924 million shares.
BR Commercial Banks Index gained 47.21 points or 0.27 percent to close at 17,407.63 points with 14.574 million shares.
BR Power Generation and Distribution Index added 86.48 points or 0.59 percent to close at 14,835.53 points with 6.965 million shares.
BR Oil and Gas Index decreased by 48.35 points or 0.79 percent to close at 6,049.94 points with 9.570 million shares.
BR Tech. & Comm. Index plunged by 52.08 points or 1.41 percent to close at 3,649.36 points with 44.081 million shares.
Mubashir Anis Naviwala at JS Global Capital said the market saw profit taking and the index closed down 209 points at 66,796 points. The KSE-100 volumes were also low at only 80 million shares.
The Auto sector remained positive with DFML and SAZEW closing limit up. Other notable gainers were ATRL, HUBC, and ENGRO.
Copyright Business Recorder, 2024
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