The benchmark KSE-100 Index close at 46,165.5 points
KARACHI
Pakistan Stock Exchange (PSX) turned to profit-taking activity on Wednesday after gaining over 2,600 points in last three sessions, with the benchmark KSE-100 Index shedding 241.76 points (-0.52 percent) to close at 46,165.5 points.
The market opened on a negative note but it remained volatile. The indices switched between the green and red territories for most part of the session. The last hour selling took the indices back to the red zone.
According to a post-closing note released by Aba Ali Habib Securities, the local indices witnessed mixed sentiments throughout the trading session owing to the possibility of Pakistan hitting the record fiscal deficit of Rs5.6 trillion in the current fiscal year 2021-22, coupled with deadlock that might happen with the International Monetary Fund in case of any delay or any stringent condition put forward by the IMF.
The KSE-100 Index moved in a range of 580.78 points, showing an intraday high of 46,643.05 and a low of 46,062.27 points. Among other indices, the KSE All Share Index shed 142.12 points (-0.45 percent) to close at 31,307.4 points, while KMI All Share Islamic Index shed 95.39 points (-0.42 percent) to close at 22,671.4 points.
A total of 367 companies traded shares in the stock exchange, out of them shares of 117 closed up, shares of 230 closed down while shares of 20 companies remained unchanged. Out of 95 traded companies in the KSE-100 Index, 25 closed up, 69 closed down and one remained unchanged.
The overall market volumes decreased by 19.01 million to 474.59 million shares. Total volumes traded for the KSE-100 Index decreased by 40.32 million to 146.43 million shares. The number of total trades increased by 5,604 to 148,978, the value traded decreased by Rs1.50 billion to Rs12.35 billion and the overall market capitalisation decreased by Rs43.52 billion.
Among scrips, Flying topped the volumes with 80.74 million shares, followed by WTL (42.74 million) and GGL (32.52 million). Stocks that contributed significantly to the volumes included Flying, WTL, GGL, TELE and TPLP, which formed over 43 percent of total volumes.
In terms of rupee, SAPL remained the top gainer and witnessed an increase of Rs59.5 (+6.5 percent) per share, closing at Rs974.95. The runner-up was AGTL, the share price of which climbed up by Rs29.42 (+7.5 percent) to Rs421.75. NESTLE remained the top loser in terms of rupee and witnessed a decrease of Rs110 (-1.98 percent) per share, closing at Rs5,445, followed by PMPK, the share price of which declined by Rs21 (-3.13 percent) to close at Rs650 per share.
The sectors taking the index towards the south were cement (93 points), commercial banks (63 points), food & personal care products and investment banks/ investment companies / securities companies and engineering (16 points each). The most points taken off the index were by LUCK (35 points), UBL (30 points), BAHL (14 points), AGP (13 points) and MLCF (11 points).
The sectors taking the index towards the north were power generation & distribution (15 points), tobacco (9 points), automobile assembler (7 points), chemical (4 points) and automobile parts & accessories (3 points). The most points added to the index were by HUBC (16 points), MTL (14 points), SEARL (13 points), PAKT (9 points) and MEBL (8 points).
