KARACHI: Pakistan Stock Exchange on Wednesday witnessed mixed trend and remained oscillating in positive and negative directions during the trading session.
The benchmark index gained 130.86 points or 0.14 percent and closed at 93,355.43 points. The index hit 93,803.59 points intra-day high and 92,943.08 points intra-day low levels.
Trading activity slightly improved as daily volumes on ready counter increased to 807.067 million shares as compared to 792.904 million shares traded on Tuesday. The daily traded value on the ready counter increased to Rs 31.688 billion against previous session’s Rs 30.788 billion.
BRIndex100 lost 36.43 points or 0.37 percent to close at 9,883.70 points with total daily turnover of 664.053 million shares.
BRIndex30 decreased by 151.47 points or 0.49 percent to close at 30,600.00 points with total daily trading volumes of 338.069 million shares.
Foreign investors remained on the selling side and withdrew $5.016 million from the local equity market. Total market capitalization increased by Rs 20 billion to Rs 12.051 trillion. Out of total 450 active scrips, 196 closed in positive and 191 in negative while the value of 63 stocks remained unchanged.
WorldCall Telecom was the volume leader with 43.291 million shares and closed at Rs 1.26, down Rs 0.01 followed by Waves Home App that increased by Rs 0.90 to close at Rs 8.79 with 33.201 million shares. Pak Refinery closed at the previous session’s closing level of Rs 26.88 without any change with 31.524 million shares.
Rafhan Maize Products Company and Philip Morris Pakistan were the top gainers increasing by Rs 64.96 and Rs 38.17 respectively to close at Rs 7,601.00 and Rs 827.67 while Unilever Pakistan Foods and Mehmood Textile Mills were the top losers declining by Rs 221.80 and Rs 45.57 respectively to close at Rs 18,858.09 and Rs 501.58.
An analyst at Topline Securities said that the market exhibited a consolidation phase, with the index reaching a peak of 93,804 and dipping to a low of 92,943. Notable, consistent buying by local mutual funds supported the market in the recent rally.
The index was boosted by positive contributions from MARI, LUCK, SEARL, ENGRO, and POL, which collectively added 461 points. Conversely, OGDC, FFC, and MEBL experienced some profit-taking, resulting in a combined loss of 213 points to the index.
BR Automobile Assembler Index decreased by 164.52 points or 0.85 percent to close at 19,225.02 points with total turnover of 7.923 million shares.
BR Cement Index declined by 135.11 points or 1.35 percent to close at 10,120.75 points with 43.142 million shares.
BR Commercial Banks Index lost 111.43 points or 0.45 percent to close at 24,537.13 points with 30.206 million shares.
BR Power Generation and Distribution Index plunged by 184.43 points or 1.13 percent to close at 16,079.88 points with 53.062 million shares.
BR Oil and Gas Index fell by 109.16 points or 1.17 percent to close at 9,436.93 points with 81.255 million shares.
BR Tech. & Comm. Index closed at 4,564.76 points, down 7.66 points or 0.17 percent with 105.005 million shares.
Initially, the bourse witnessed consolidation, however, bulls took charge, and the market began to recover, reaching a high of 93,803 points, Mubashir Anis Naviwala at JS Global Capital said.
Trading volume reached 807 million shares, with top volume leaders including WTL, WAVESAPP, PRL, KEL and PAEL.
Copyright Business Recorder, 2024
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