KARACHI
Pakistan Stock Exchange (PSX) witnessed a low-volume and range-bound session on Friday, with the KSE-100 Index losing 79.55 points (-0.17 percent) to settle at 47,671.21 points.
The market opened on a positive note but remained in the green territory for the first 10 minutes of the session. Later, the bears controlled the market. In an important development, Morgan Stanley Capital International (MSCI) August quarterly review increased Pakistan’s weight-age in the MSCI FM100 Index by 34 basis points to 2.93 percent and added OGDC to its FM100 Index, with a weight of 0.309 percent. However, this development failed to lift OGDC share price, instead the scrip stripped off the most points from the KSE-100 Index by depriving it of 28 points.
The benchmark index traded in a range of 283.24 points showing an intraday high of 47,853.55 points and an intraday low of 47,570.31 points. Among other indices, the KSE All Share Index shed 54.69 points (-0.17 percent) to close at 31,631.60 points, while KMI All Share Islamic Index shed 45.54 points (-0.20 percent) to close at 23,012.45 points.
Total volumes traded for the KSE-100 Index decreased by 76.54 million shares to 91.94 million shares against 168.48 million shares traded a session earlier. Similarly, the overall market volumes decreased by 59.65 million shares to 192.04 million shares against 251.69 million shares traded a session earlier.
Among scrips, WTL topped the volumes with 17.97 million shares, followed by JSBL (16.14 million) and BIPL (12.49 million). Stocks that contributed significantly to the volumes included WTL, JSBL, BIPL, BOP, and UNITY, which formed over 33 percent of total volumes.
A total of 327 companies traded shares in the stock exchange against 316 a session earlier, out of which shares of 100 closed up, shares of 202 closed down while shares of 25 companies remained unchanged. A total of 94 companies traded shares in the KSE-100 Index against 93 a session earlier, out of which share price of 29 companies closed up, 64 closed down and one remained unchanged.
The number of total trades decreased by 22,172 to 88,839 as compared to 111,011 trades recorded in the previous session, while the value traded decreased by Rs6.27 billion to Rs6.53 billion as compared to the previous session.
In terms of rupee, EXIDE remained the top gainer and witnessed an increase of Rs26.02 (+7.5 percent) per share, closing at Rs372.99. The runner-up remained ATBA, the share price of which climbed up by Rs20.54 (+7.5 percent) to Rs294.47. UPFL remained the top loser in terms of rupee and witnessed a decrease of Rs1,100 (-4.58 percent) per share, closing at Rs22,900, followed by BATA, the share price of which fell by Rs30 (-1.7 percent) to close at Rs1,730 per share.
The sectors taking the index towards south were oil & gas exploration companies (41 points), technology & communication (30 points), pharmaceuticals and refinery (13 points each), and food & personal care products (12 points). The major companies depriving the index of points remained OGDC (28 points), TRG (26 points), PPL (15 points), BAHL (11 points), and UPFL (10 points).
The sectors taking the index towards north were fertilizer (43 points), commercial banks (40 points), synthetic & rayon (7 points), and automobile parts & accessories and real estate investment trust (1 point each). The major companies adding points to the index remained HMB (38 points), ENGRO (37 points), MEBL (11 points), SCBPL (10 points), and FFC (9 points).
