KARACHI: Pakistan Stock Exchange remained under pressure during the outing week ended on October 14, 2022 as the investors opted to book profit with low trading activities.
The benchmark KSE-100 index decreased by 136.75 points on week-on-week basis and closed below 42,000 psychological-level at 41,948.50 points.
Trading activities remained thin as average daily volumes on ready counter declined by 38.5 percent to 266.91 million shares as compared to previous week’s average of 434.07 million shares while average daily traded value on ready counter declined by 9.3 percent to Rs 9.50 billion against previous week’s Rs 10.48 billion.
BRIndex100 lost 15.57 points during this week to close at 4,222.16 points with average daily turnover of 243.600 million shares.
BRIndex30 declined by 438.15 points on week-on-week basis to close at 15,953.22 points with average daily trading volumes of 198.423 million shares.
Total market capitalization declined by Rs 44 billion during this week to Rs 6.818 trillion.
“In the outgoing week, the monetary policy meeting was under focus, with the status quo being maintained keeping the market stable”, an analyst at AKD Securities said.
Sector-wise, top performing sectors were sugar and allied industries (up 12.4 percent), textile weaving (up 3.2 percent), real estate investment trusts (up 2.4 percent), woolen (up 2.2 percent) and refineries (up 2.0 percent), while the least favourite sectors were tobacco (down 8.8 percent), power generation and distribution (down 7.7 percent), close-end mutual funds (down 4.7 percent), jute (down 4.1 percent) and synthetic and rayon (down 3.4 percent).
Stock-wise, top performers in the KSE-100 were ATRL (up 7.9 percent), SRVI (up 6.9 percent), LOTCHEM (up 5.8 percent), MUREB (up 5.7 percent) and YOUW (up 5.4 percent), while laggards were TRG (down 12.6 percent), PAKT (down 11.2 percent), PGCL (down 8.9 percent), HGFA (down 6.6 percent) and SML (down 4.8 percent).
Flow-wise, brokers were the largest sellers, offloading $4.8 million followed by companies ($4.0 million), mutual funds ($2.7 million), banks and DFI ($2.0 million), Insurance Companies ($1.4 million) and Other organizations ($0.5 million). Foreigners, individuals and NBFC were on the buying side, with a net buy of $12.3 million, $3.1 million and $31,000 respectively.
An analyst at JS Global Capital said that after a two week long bull run, KSE-100 remained largely stable throughout the week, closing at 41,948, down 0.3 percent.
Key performers during the week were the Refinery (up 2.0 percent), food (up 1.4 percent) and sugar & allied (up 12.4 percent) sectors while tobacco (down 8.8 percent), power (down 7.7 percent) and cements (down 0.9 percent) remained key underperformers.
Copyright Business Recorder, 2022