KARACHI: Pakistan Stock Exchange Monday witnessed a rangebound session and after moving both ways, closed on a negative note due to investors’ lack of interest.
The benchmark KSE-100 Index hit 45,283.31 points intraday high and 45,013.98 points intraday low before closing at 45,042.61 points, down 25.37 points or 0.06 percent.
The daily trading volumes on ready counter increased to 314.785 million shares as compared to 267.514 million shares traded last Friday. The daily traded value on ready counter however slightly declined to Rs 6.770 billion against previous session’s Rs 6.783 billion.
BRIndex100 lost 13.88 points or 0.31 percent to close at 4,521.38 points with total daily turnover of 283.098 million shares.
BRIndex30 inched down by 10.04 points or 0.06 percent to close at 15,804.66 points with total daily trading volumes of 211.234 million shares.
Foreign investors were however net buyers of shares worth $608,859. Total market capitalization increased by Rs 23 billion to Rs 6.895 trillion. Out of total 342 active scrips, 171 closed in negative and 138 in positive while the value of 33 stocks remained unchanged.
Bank of Punjab was the volume leader with 49.139 million shares and gained Rs 0.65 to close at Rs 4.27 followed by WorldCall Telecom that inched up by Rs 0.03 to close at Rs 1.32 with 45.870 million shares. Telecard Limited closed at Rs 8.29, up Rs 0.01 with 18.641 million shares.
Unilever Foods and Colgate Palmolive were the top gainers increasing by Rs 500.00 and Rs 107.81 respectively to close at Rs 22500.00 and Rs 1545.33 while Rafhan Maize and Mehmood Textile were the top losers declining by Rs 468.00 and Rs 16.60 respectively to close at Rs 8445.00 and Rs 722.90.
“Another rangebound session was observed at Pakistan equities as the benchmark index traded between 215 points and close the day at 45,043, minus 25 points; down 0.06 percent,” an analyst at Topline Securities said.
During the trading hours, Tech, Bank, Food and E&P contributed positively to the index as they added plus 36 points to the index. On the other side, RMPL, MEHT, SYS and INDU witnessed negative trend and lost 10 points collectively.
BR Automobile Assembler Index declined by 57.95 points or 0.67 percent to close at 8,540.04 points with total turnover of 8.902 million shares.
BR Cement Index decreased by 30.96 points or 0.62 percent to close at 4,962.49 points with 7.195 million shares.
BR Commercial Banks Index gained 30.88 points or 0.32 percent to close at 9,612.43 points with 69.095 million shares.
BR Power Generation and Distribution Index lost 26.92 points or 0.32 percent to close at 8,421.96 points with 20.957 million shares.
BR Oil and Gas Index inched down by 0.21 points or 0.01 percent to close at 4,083.22 points with 23.183 million shares.
BR Tech. & Comm. Index fell by 35.75 points or 0.89 percent to close at 3,965.93 points with 86.519 million shares.
Muhammad Shuja Qureshi at JS Global Capital said select buying helped the KSE-100 Index sustain the 45,000 level and the index closed at 45,043, down by 25 points. SNGP and SSGC posted gains on anticipated increase in gas prices. SHEL, BOP, and UBL also ended the day with gains, while SAZEW closed limit up.
The market turnover increased to 315 million shares, where BOP (up 18 percent), WTL (up 2.3 percent), TELE (up 0.1 percent), FFL (up 1.5 percent) and PRL (up 0.7 percent) were the volume leaders.
Copyright Business Recorder, 2023