KARACHI: Pakistan Stock Exchange on Monday witnessed mixed trend and after moving both sides finally closed on negative note due to selling in various sectors.

The benchmark KSE-100 index hit 42,029.14 points intra-day high and 41,715.31 points intra-day low level before closing at 41,782.93 points, down 121.28 points or 0.29 percent.

Total daily volumes on ready counter stood at 179.118 million shares as compared to 164.835 million shares traded on last Friday while total daily traded value on ready counter increased to Rs 5.468 billion against previous session’s Rs 5.195 billion.

BRIndex100 decreased by 30.86 points or 0.74 percent to close at 4,159.08 points with total daily turnover of 145.000 million shares.

BRIndex30 declined by 213.34 points or 1.46 percent to close at 14,366.73 points with total daily trading volumes of 89.351 million shares.

The foreign investors however remained net buyers of shares worth $405,764. Total market capitalization increased by Rs 19 billion to Rs 6.420 trillion. Out of total 314 active scrips, 184 closed in negative and 108 in positive while the value of 22 stocks remained unchanged.

Hascol Petroleum was the volume leader with 16.367 million shares and gained Rs 0.30 to close at Rs 5.69 followed by TPL Properties that inched up by Rs 0.20 to close at Rs 13.52 with 13.004 million shares. Pak Refinery closed at Rs 14.67, up Rs 0.22 with 10.796 million shares.

Unilever Foods and Nestle Pakistan were the top gainers increasing by Rs 1067.32 and Rs 440.00 respectively to close at Rs 23000.00 and Rs 6890.00 while Bhanero Textile and Sapphire Fiber were the top losers declining by Rs 95.08 and Rs 87.66 respectively to close at Rs 1172.60 and Rs 1081.34.

An analyst at Arif Habib Limited said the PSX began the week with a range bound session. The benchmark KSE-100 index opened after the budget weekend with mixed sentiments, regarding the new policies announced in the fiscal budget. Investor activity remained sluggish for most of the day while the 3rd tier scrips led the volume board.

Sectors contributing to the performance include Commercial Banks (down 94.8 points), E&P (down 76.3 points), Inv Banks/Inv Cos/Securities Cos (down 25.6 points), Textile Composite (down 24.5 points) and Fertilizer (down 23.6 points).

BR Automobile Assembler Index surged by 275.84 points or 3.7 percent to close at 7,729.84 points with total turnover of 1.126 million shares.

BR Cement Index increased by 63.47 points or 1.39 percent to close at 4,639.74 points with 13.221 million shares.

BR Commercial Banks Index declined by 93.45 points or 1.11 percent to close at 8,320.49 points with 33.698 million shares.

BR Power Generation and Distribution Index lost 44.67 points or 0.61 percent to close at 7,332.88 points with 4.422 million shares.

BR Oil and Gas Index decreased by 50.15 points or 1.29 percent to close at 3,843.29 points with 25.908 million shares.

BR Tech & Comm Index closed at 3,771.38 points, down 15.1 points or 0.4 percent with 20.974 million shares.

Mubashir Anis Naviwala at JS Global Capital said the bourse witnessed mixed sentiment on the first post-budget session. PSX made an intraday high of 42,029 points and a low of 41,715 points with market eventually closing at 41,783, losing 121 points.

Total traded volume stood at 179 million shares where HASCOL (up 5.6 percent), TPLP (up 1.5 percent), PRL (up 1.5 percent), BOP (zero percent) and WAVES (up 2.9 percent) accounted for 32 percent of the aggregate.

Copyright Business Recorder, 2023