KARACHI: Pakistan Stock Exchange on Friday witnessed range bound session as the investors remained cautious and avoided to take fresh positions before announcement of Monitory Policy statement. The benchmark KSE-100 index hit 44,723.19 points intra-day high and 44,457.55 points intra-day low level before closing at 44,551.35 points, up 25.63 points or 0.06 percent.
Trading activities remained low as total daily volumes on ready counter decreased to 134.798 million shares as compared to 188.666 million shares traded on Thursday while total daily traded value on ready counter declined to Rs 4.736 billion against previous day’s Rs 7.361 billion.
BRIndex100 closed at 4,514.88 points, up 0.12 points with total daily turnover of 100.517 million shares.
BRIndex30 declined by 105.28 points or 0.63 percent to close at 16,581.89 points with total daily trading volumes of 65.533 million shares.
The foreign investors remained net sellers of shares worth $1.720 million. Total market capitalization increased by Rs 5 billion to Rs 7.659 trillion. Out of total 335 active scrips, 177 closed in negative and 122 in positive while the value of 36 stocks remained unchanged.
Flying Cement (R) was the volume leader with 11.416 million shares and closed at previous day’s closing level of Re 0.67 followed by TRG Pakistan that lost Re 0.32 to close at Rs 78.81 with 8.007 million shares. Yousuf Weaving inched down by Re 0.17 to close at Rs 6.33 with 6.602 million shares.
Rafhan Maize and Philip Morris Pak were the top gainers increasing by Rs 200.00 and Rs 36.40 respectively to close at Rs 11,700.00 and Rs 719.90 while Allawasaya Textile and Bata Pak were the top losers declining by Rs 109.21 and Rs 108.34 respectively to close at Rs 1,347.26 and Rs 2,132.16.
An analyst at Topline Securities said that range bound session was observed at the exchange, as the index traded between an intraday high of plus 198 points and intraday low of minus 65 points, to finally close at 44,551, up by 0.06 percent. Major contribution to the index came from SYS, HBL, ENGRO, EFERT and FATIMA, as they cumulatively contributed 104 points to the index. On the flip side HUBC, POL, INDU, MCB and PSO lost value to weigh down on the index by negative 82 points.
BR Automobile Assembler Index declined by 121.59 points or 1.32 percent to close at 9,056.19 points with total turnover of 966,159 shares.
BR Cement Index gained 24.4 points or 0.47 percent to close at 5,241.29 points with 10.637 million shares.
BR Commercial Banks Index inched up by 3.69 points or 0.04 percent to close at 10,013.30 points with 8.444 million shares.
BR Power Generation and Distribution Index decreased by 62.49 points or 1.07 percent to close at 5,785.57 points with 6.013 million shares.
BR Oil and Gas Index closed at 4,083.59 points, down 22.1 points or 0.54 percent with 10.375 million shares.
BR Tech & Comm Index added 17.27 points or 0.51 percent to close at 3,399.44 points with 26.705 million shares.
An analyst at Arif Habib Limited said the market opened on a positive note and stayed range bound throughout the day due to expectation of unchanged policy rate in upcoming monetary policy. Main board activity remained dull. In the last trading hour, value buying was observed.
Sectors contributing to the performance include Fertilizer (up 62.3 points), Cement (up 22.4 points), Technology (up 19.6 points), Banks (up 10.2 points) and Chemicals (up 7.9 points).
Copyright Business Recorder, 2022