KARACHI: Pakistan Stock Exchange on Tuesday remained under pressure and closed in red zone due to selling as the investors opted to offload their holdings on available margins.
The benchmark KSE-100 index declined by 202.44 points or 0.17 percent and closed at 116,052.68 points. After opening in negative, the index dropped at 113,677.50 points intra-day low due to selling pressure, however fresh buying in some sectors supported the index to minimize its intra-day losses.
Total daily trading volumes on ready counter stood at 792.770 million shares as compared to 819.805 million shares traded on Monday while total daily traded value on the ready counter increased to Rs 39.694 billion against previous session’s Rs 38.326 billion.
BRIndex100 decreased by 71.14 points or 0.58 percent to close at 12,092.07 points with total daily turnover of 699.278 million shares.
BRIndex30 closed at 36,760.03 points, up 311.55 points or 0.85 percent with total daily trading volumes of 501.627 million shares.
Total market capitalization declined by Rs 42 billion to Rs 14.520 trillion. Out of total 453 active scrips, 275 closed in negative and 133 in positive while the value of 45 stocks remained unchanged.
WorldCall Telecom was the volume leader with 80.583 million shares and gained Re 0.06 to close at Rs 1.71 followed by Cnergyico PK that lost Re 0.06 to close at Rs 7.35 with 76.600 million shares. K-Electric inched up by Re 0.05 to close at Rs 5.03 with 45.707 million shares.
JDW Sugar Mills and Lucky Core Industries were the top gainers increasing by Rs 74.79 and Rs 51.67 respectively to close at Rs 822.68 and Rs 1,148.16 while Hallmark Company and Nestle Pakistan were the top losers declining by Rs 89.38 and Rs 75.39 respectively to close at Rs 857.84 and Rs 7,344.08.
An analyst at Topline Securities said that the market saw significant volatility, with the index reaching a high of 116,843 and a low of 113,677.
Despite the initial drop, the market rebounded. A statement from the Prime Minister, indicating that the government is considering reducing electricity rates, played a role in the recovery of share prices.
The decline in the index was primarily driven by EFERT, FFC, HBL, ATRL, and PSO, which together contributed to a loss of 433 points. On the other hand, ENGROH, OGDC, and TRG helped offset the losses, adding 436 points to the index.
BR Automobile Assembler Index decreased by 126.99 points or 0.58 percent to close at 21,725.24 points with total turnover of 6.497 million shares.
BR Cement Index gained 46.58 points or 0.43 percent to close at 10,972.66 points with 59.407 million shares.
BR Commercial Banks Index declined by 195.91 points or 0.65 percent to close at 30,082.05 points with 54.675 million shares.
BR Power Generation and Distribution Index added 99.23 points or 0.54 percent to close at 18,613.69 points with 62.588 million shares.
BR Oil and Gas Index lost 5.79 points or 0.05 percent to close at 12,289.52 points with 82.677 million shares.
BR Tech & Comm Index increased by 74.49 points or 1.35 percent to close at 5,606.29 points with 129.675 million shares.
Ahsan Mehanti at Arif Habib Corporation said mixed activity witnessed amid political noise and economic uncertainty.
He said the government actions on industrials to qualify for IMF $1.0 billion tranche in March 2025, weak Pak Rupee and geo political tensions played a catalyst role in bearish close.
Copyright Business Recorder, 2025
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