KARACHI: Pakistan Stock Exchange on Monday witnessed mixed trend and remained oscillating between positive and negative throughout the trading session as the investor avoided to take fresh positions due to their concerns over prevailing economic situation.
The benchmark KSE-100 index gained 47.94 points or 0.11 percent and closed at 43,280.77 points. Trading activities remained thin as daily volumes on ready counter decreased to 176.913 million shares as compared to 287.730 million shares traded on previous session.
BRIndex100 lost 7.2 points or 0.16 percent to close at 4,391.17 points with total daily turnover of 152.449 million shares.
BRIndex30 closed at 16,965.85 points, down 13.55 points or 0.08 percent with total daily trading volumes of 102.155 million shares. The foreign investors however remained net buyers of shares worth $485,138. Total market capitalization increased by Rs 4 billion to Rs 7.418 trillion. Out of total 314 active scrips, 175 closed in negative and 122 in positive while the value of 17 stocks remained unchanged.
WorldCall Telecom was the volume leader with 16.586 million shares however lost Rs 0.09 to close at Rs 1.96 followed by Telecard Limited that closed at Rs 13.91, down Rs 0.90 with 12.574 million shares.
Colgate Palmolive and Premier Sugar were the top gainers increasing by Rs 39.99 and Rs 31.94 respectively to close at Rs 2499.99 and Rs 457.90 while Nestle Pakistan and Bhanero Textile were the top losers declining by Rs 124.50 and Rs 85.42 respectively to close at Rs 5225.50 and Rs 1053.58.
An analyst at Arif Habib Limited said the market remained lackluster during the entire trading session, bear remained active in the market by pushing investor on the side line in continuation to the concerns towards CAD and higher inflation along with indication of higher interest rates in the upcoming monetary policy.
The market opened on a positive note but activity remained sluggish during the day due to volatility in index but managed to closed positive at the day end. Selling pressure seems to subside at current levels and market may witness good flows moving forward.
Sectors contributing to the performance include E&P (up 124 points), Technology (up 83 points), Power (up 26 points), Chemical (up 10 points) and Cement (up 8 points).
BR Automobile Assembler Index decreased by 29.32 points or 0.35 percent to close at 8,376.21 points with total turnover of 843,280 shares.
BR Cement Index closed at 5,406.54 points, up 0.27 points with 5.695 million shares.
BR Commercial Banks Index lost 68.19 points or 0.68 percent to close at 9,976.22 points with 8.061 million shares.
BR Power Generation and Distribution Index increased by 65.98 points or 1.24 percent to close at 5,400.90 points with 10.236 million shares.
BR Oil and Gas Index surged by 76.53 points or 2.14 percent to close at 3,650.87 points with 17.878 million shares.
BR Tech & Comm Index added 67.68 points or 1.92 percent to close at 3,588.76 points with 49.124 million shares.
Copyright Business Recorder, 2021