The benchmark KSE-100 Index close at 46,539.59 points
KARACHI
Pakistan Stock Exchange (PSX) turned to profit-taking activity on Monday, with the benchmark KSE-100 Index shedding 61.95 points (-0.13 percent) to close at 46,539.59 points.
The market opened on a positive note and touched the day’s high by gaining over 360 points in the early trade to reach a near six-month high at 46,970 points level. The investors welcomed the news about talks between the government and the International Monetary Fund (IMF) on the revival of the Extended Fund Facility (EFF).
Moreover, the rally was also led by the oil and gas exploration sector on the backdrop of increase in global oil prices and market chatter of one time heavy dividend in the OGDC and PPL stocks, according to Topline Securities.
Last week proved to be an outstanding one for the stock market as the benchmark index surged from 44,444.58 to 46,601.54 points, witnessing a gain of 2,156.96 points (4.85 percent), which has been the highest weekly gain since April 2020. The market gained over 3,000 points in the last six sessions, which prompted investors to go for profit-taking amid absence of any positive triggers.
The KSE-100 Index moved in a range of 551.28 points, showing an intraday high of 46,970.04 and a low of 46,418.76 points. Among other indices, the KSE All Share Index gained 29.09 points (+0.09 percent) to close at 31,604.85 points, while KMI All Share Islamic Index gained 71.29 points (+0.31 percent) to close at 23,004.38 points.
A total of 352 companies traded shares in the stock exchange, out of them shares of 112 closed up, shares of 209 closed down while shares of 31 companies remained unchanged. Out of 92 traded companies in the KSE-100 Index, 27 closed up, 63 closed down and two remained unchanged.
The overall market volumes decreased by 110.18 million to 255.61 million shares. Total volumes traded for the KSE-100 Index decreased by 49.23 million to 118.98 million shares. The number of total trades decreased by 6,189 to 109,386, the value traded increased by Rs0.51 billion to Rs9.64 billion. Overall market capitalisation increased by Rs6.99 billion.
Among scrips, GTECH topped the volumes with 21.23 million shares, followed by CNERGY (17.79 million) and WTL (15.46 million). Stocks that contributed significantly to the volumes included GTECH, CNERGY, WTL, OGDC and GGL, which formed around 32 percent of total volumes.
In terms of rupee, RMPL remained the top gainer and witnessed an increase of Rs100 (+0.88 percent) per share, closing at Rs11,450. The runner-up remained COLG, the share price of which climbed up by Rs27.77 (+1.25 percent) to Rs2,250. SFL remained the top loser in terms of rupee and witnessed a decrease of Rs58.78 (-6.12 percent) per share, closing at Rs901, followed by GATI, the share price of which declined by Rs32.49 (-6.56 percent) to close at Rs462.5 per share.
The sectors taking the index towards the south were commercial banks (122 points), technology & communication (45 points), cement (40 points), investment banks/ investment companies/ securities companies (17 points) and textile composite (14 points). The most points taken off the index were by SYS (29 points), EPCL (29 points), LUCK (21 points), UBL (19 points) and HMB (19 points).
The sectors taking the index towards the north were oil & gas exploration companies (210 points), power generation & distribution (21 points), fertilizer (13 points), oil & gas marketing companies (8 points) and automobile parts & accessories (3 points). The most points added to the index were by OGDC (95 points), PPL (91 points), FFC (37 points), HUBC (23 points) and POL (15 points).
