KARACHI: Pakistan Stock Exchange Tuesday opened on a positive note and remained in green in most part of the session, however profit-taking at the fag end forced the market to close in red zone.
The benchmark KSE-100 Index hit 42,411.58 points intraday high and 42,053.81 points intraday low before closing at 42,155.48 points, down 56.16 points or 0.13 percent.
Trading activity further improved as total daily volumes on the ready counter increased to 304.838 million shares as compared to 240.194 million shares traded on Monday however total daily traded value on ready counter declined to Rs 9.845 billion against previous session’s Rs 10.533 billion.
BRIndex100 lost 10.39 points or 0.24 percent to close at 4,247.27 points with total daily turnover of 288.050 million shares.
BRIndex30 declined by 230.87 points or 1.38 percent to close at 16,451.90 points with total daily trading volumes of 246.163 million shares.
Foreign investors remained net buyers of shares worth $276,988. The market capitalization declined by Rs 27 billion to Rs 6.848 trillion. Out of total 341 active scrips, 176 closed in negative and 139 in positive while the value of 26 stocks remained unchanged.
WorldCall Telecom was the volume leader with 39.050 million shares however lost Rs 0.07 to close at Rs 1.56 followed by Cnergyico PK that gained Rs 0.18 to close at Rs 5.15 with 34.128 million shares. Pak Refinery increased by Rs 0.76 to close at Rs 18.22 with 32.408 million shares.
Sapphire Textile and Reliance Cotton were the top gainers increasing by Rs 59.00 and Rs 27.00 respectively to close at Rs 1,064.00 and Rs 558.00 while Nestle Pakistan and Bata Pak were the top losers declining by Rs 70.00 and Rs 63.56, respectively to close at Rs 5,780.00 and Rs 2,234.88.
An analyst at Topline Securities said that Pakistan equities closed slight negative where benchmark KSE-100 Index settled at 42,155 level, down 0.13 percent. The day kicked off on a positive note over Monday’s SBP analyst briefing where the government will be getting $4.0 billion which led the market to make an intraday high of 199 points. However this positivity didn’t sustain at the bourse where initial decline came from TRG as the stock hits its lower limit during the trading session.
BR Automobile Assembler Index fell by 29.82 points or 0.33 percent to close at 9,068.03 points with total turnover of 594,809 shares.
BR Cement Index declined by 46.31 points or 0.99 percent to close at 4,649.00 points with 13.559 million shares.
BR Commercial Banks Index gained 15.12 points or 0.18 percent to close at 8,217.13 points with 6.378 million shares.
BR Power Generation and Distribution Index added 36.88 points or 0.58 percent to close at 6,425.35 points with 12.602 million shares.
BR Oil and Gas Index inched down by 8.14 points or 0.22 percent to close at 3,702.54 points with 9.885 million shares.
BR Tech. & Comm. Index plunged by 131.53 points or 2.84 percent to close at 4,501.64 points with 64.080 million shares.
An analyst at Arif Habib Limited said that PSX witnessed a rangebound session as investor chose to book profits. The benchmark KSE-100 Index despite opening in the positive zone failed to continue the momentum whereas participation remained sluggish that led the index to close in the red zone. Volumes remained healthy in the main board on the contrary hefty volumes were recorded in the 3rd tier stocks.
Sectors contributing to the performance include Technology (down 112.1 points), Cement (down 28.0 points), E&P (down 7.3 points), Vanaspati & Allied Industries (down 6.5 points) and Textile Composite (down 6.5 points).
Copyright Business Recorder, 2022