KARACHI: Pakistan Stock Exchange on Friday opened in green zone, however failed to continue this momentum and closed on a negative note due to selling in the second session.

The benchmark KSE-100 Index hit 41,612.67 points intraday high and 41,280.16 points intraday low before closing at 41,301.30 points, down 67.87 points or 0.16 percent. The daily trading volumes on ready counter stood at 156.023 million shares as compared to 149.676 million shares traded on Thursday. The daily traded value on ready counter increased to Rs 3.746 billion against previous session’s Rs 3.606 billion.

BRIndex100 lost 17.08 points or 0.42 percent to close at 4,074.51 points with total daily turnover of 121.493 million shares.

BRIndex30 decreased by 84.1 points or 0.6 percent to close at 14,007.39 points with total daily trading volumes of 87.763 million shares.

Foreign investors also remained net sellers of shares worth $524,064. Total market capitalization declined by Rs 22 billion to Rs 6.326 trillion. Out of total 328 active scrips, 187 closed in negative and 109 in positive while the value of 32 stocks remained unchanged.

TPL Properties was the volume leader with 24.009 million shares however lost Rs 0.28 to close at Rs 13.53 followed by K-Electric that inched down by Rs 0.11 to close at Rs 1.64 with 17.821 million shares. Hascol Petroleum gained Rs 0.22 to close at Rs 5.84 with 16.293 million shares.

Rafhan Maize and Colgate Palmolive were the top gainers increasing by Rs 147.80 and Rs 84.44 respectively to close at Rs 8499.00 and Rs 1210.33 while Unilever Foods and Bhanero Textile were the top losers declining by Rs 680.00 and Rs 64.99 respectively to close at Rs 22020.00 and Rs 1075.00.

An analyst at Arif Habib Limited said that the market opened in the green but lack of triggers made the market to trade with lackluster sentiments.

As the 9th review of the IMF program still remains stalled urging the investors to remain cautious. Overall volumes remained dull while the 3rd tier equities continued to lead the volume board.

Sectors contributing to the performance include Commercial Banks (down 46.8 points), Fertilizer (down 35.9 points), Power Generation & Distribution (down 29.5 points), E&P (down 19.6 points) and Pharmaceuticals (down 12.3 points).

BR Automobile Assembler Index lost 19.23 points or 0.24 percent to close at 7,924.22 points with total turnover of 1.037 million shares.

BR Cement Index gained 8.36 points or 0.19 percent to close at 4,521.86 points with 6.375 million shares.

BR Commercial Banks Index decreased by 44.48 points or 0.53 percent to close at 8,322.53 points with 13.908 million shares.

BR Power Generation and Distribution Index declined by 93.38 points or 1.29 percent to close at 7,133.22 points with 21.757 million shares.

BR Oil and Gas Index inched down by 8.4 points or 0.22 percent to close at 3,809.01 points with 28.623 million shares.

BR Tech. & Comm. Index closed at 3,691.16 points, up 14.46 points or 0.39 percent with 19.971 million shares. An analyst at Topline Securities said that the KSE-100 Index traded within its range of intraday high of plus 244 points and intraday low minus 89 points to finally close at 41,301 level, down by 0.16 percent.

Major positive contribution to the index came from COLG, SYS, DAWH, SHEL and MLCF, as they cumulatively contributed plus 79 points to the index. On the flip side MEBL, ENGRO, EFERT, PSO and HUBC lost value to weigh down on the index by minus 74 points.

Copyright Business Recorder, 2023