KARACHI: Pakistan Stock Exchange on Tuesday opened on a positive note, however failed to continue this trend due to selling pressure as investors opted to offload their holdings that eroded all intraday gains and the market closed flat.
The benchmark KSE-100 Index once again crossed 73,000 level to hit 73,260.09 points intraday high, however dropped into negative zone due to selling pressure at 72,707.96 points intra-day low level, before closing at 72,761.20 points, down 3.04 points.
The daily trading volumes on ready counter however increased to 621.826 million shares as compared to 578.388 million shares traded on Monday while total daily traded value on the ready counter increased to Rs 24.970 billion against previous session’s Rs 24.518 billion.
BRIndex100 lost 26.72 points or 0.35 percent to close at 7,637.99 points with total daily turnover of 554.999 million shares.
BRIndex30 decreased by 53.99 points or 0.22 percent to close at 24,971.50 points with total daily trading volumes of 366.564 million shares.
Foreign investors remained net buyers of shares worth $556,486. Total market capitalization declined by Rs 36 billion to stand at Rs 9.850 trillion. Out of total 377 active scrips, 200 closed in positive and 154 in negative while the value of 23 stocks remained unchanged.
Pak Elektron was the volume leader with 64.150 million shares and increased by Rs 1.77 to close at Rs 26.90 followed by Fauji Foods that gained Rs 0.30 to close at Rs 10.10 with 40.146 million shares. WorldCall Telecom inched up by Rs 0.02 to close at Rs 1.28 with 29.971 million shares.
Unilever Pakistan Foods and Hoechst Pakistan Limited were the top gainers increasing by Rs 100.45 and Rs 92.54 respectively to close at Rs 19,547.95 and Rs 1,326.41 while Hallmark Company Limited and Mari Petroleum Company were the top losers declining by Rs 71.10 and Rs 36.22 respectively to close at Rs 906.62 and Rs 2,719.20.
An analyst at Topline Securities said that Pakistan equities had a mixed day. Continuing last day’s buoyant momentum, the day commenced on a positive note and the KSE-100 Index made an intraday high at 73,260 levels (up 496 points or 0.68 percent).
At the aforesaid level, profit taking was seen in market which compelled benchmark KSE-100 Index to shed earlier gains and ultimately settled the day on a flat note at 72,761 levels (down 3.04 points) before making an intraday low at 72,708 levels (down 56 points or 0.08 percent).
Fertilizer, Power, Pharma and Cable sector contributed positively where DAWH, HUBC, KAPCO, HINOON and PAEL added 286 points. On the flip side, PPL, EFERT and OGDC cumulatively lost 158 points due to some profit taking witnessed in them.
BR Automobile Assembler Index decline by 122.83 points or 0.75 percent to close at 16,249.16 points with total turnover of 24.941 million shares.
BR Cement Index decreased by 71.22 points or 0.96 percent to close at 7,320.13 points with 51.783 million shares.
BR Commercial Banks Index lost 22.84 points or 0.12 percent to close at 18,996.09 points with 28.266 million shares.
BR Power Generation and Distribution Index increased by 270.13 points or 1.64 percent to close at 16,789.39 points with 43.212 million shares.
BR Oil and Gas Index plunged by 95.53 points or 1.43 percent to close at 6,600.42 points with 36.458 million shares.
BR Tech. & Comm. Index gained 20.19 points or 0.56 percent to close at 3,653.69 points with 94.403 million shares.
Mohammed Waqar Iqbal at JS Global Capital said the market opened on a positive note but later profit taking was witnessed by investors and market closed at 72,761 points, closing flat.
Traded volume stood at 622 million shares where PAEL (up 7.0 percent), FFL (up 3.1 percent), WTL (up 1.6 percent), HUMNL (up 14 percent) and KEL (down 0.2 percent) were the volume leaders.
Copyright Business Recorder, 2024
Comments
Comments are closed.