KARACHI: Pakistan Stock Exchange (PSX) witnessed mixed trend during the outgoing week as the investors remained cautious and avoided to take fresh position.

BRIndex100 lost 1.67 points on week-on-week basis to close at 4,707.10 points. Average daily trading volumes stood at 321.040 million shares.

BRIndex30 closed at 22,589.98 points, up 305.67 points with average daily turnover of 209.749 million shares.

KSE-100 index declined by 201.82 points on week-on-week basis and closed at 44,871.70 points. Trading activities remained low as average daily volumes on ready counter decreased by 7.5 percent to 354.90 million shares as compared to previous week's average of 383.53 million shares. Average daily traded value stood at Rs 12.88 billion, up 4.0 percent.

Total market capitalization declined by Rs 23 billion to Rs 7.808 trillion.

An analyst at AKD Securities said the KSE-100 index remained sluggish during the outgoing week, after losing 1,562 points or 3.4 percent over the previous week on a 25bps increase in interest rates and upside risks to inflation estimates emerging. The index closed at 44,872 points, down 0.45 percent on week-on-week basis, where any strength in the market was outweighed by profit taking.

Stock wise gainers were KEL (up 11.4 percent), HASCOL (up 8.8 percent), BYCO (up 8.5 percent), ARPL (up 6.9 percent) and ANL (up 6.1 percent), while laggards were, ATLH (down 7.7 percent), PIOC (down 7.5 percent), SFL (down 7.5 percent), SHFA (down 6.4 percent) and AGP (down 6.2 percent).

An analyst at JS Global Capital said that the KSE-100 closed at a level of 44,872, registering a loss of 202 points over last Friday. This marked the third Friday that the index close negative on a weekly basis.

A substantial portion of the net selling by foreign investors was absorbed on the local side by Banks and Insurance Companies.

Copyright Business Recorder, 2021