Daily Times

Pakistan Stock Exchange (PSX) ended flat on Thursday after a range-bound session, with the benchmark KSE-100 Index losing 7.69 points (-0.01 percent) to close at 64,639.15 points.

The market opened on a positive note but took a dip soon and remained in the red territory for most part of the session. Despite some concerns regarding the high and sticky inflation, market sentiment remained positive amid low valuations and anticipation of a strong earnings season ahead.

Selling pressure was witnessed during the trading and at one point, the benchmark index registered a decline of 548.74 points. However, the index eroded losses and closed almost flat. Selling was witnessed among some index-heavy sectors including cement, chemical, commercial banks, oil and gas exploration companies and oil marketing companies while automobile assemblers and refinery sectors traded in the green.

The benchmark index traded in a range of 838.65 points, showing an intraday high of 64,936.75 points and an intraday low of 64,098.10 points. Among other indices, the KSE All Share Index gained 9.18 points (+0.02 percent) to close at 43,308.85 points. However, the KMI All Share Islamic Index shed 25.69 points (-0.08 percent) to close at 31,706.33 points.

Total volumes traded for the KSE-100 Index decreased by 94.64 million shares to 322.74 million shares against 417.38 million traded in the previous session. Similarly, the overall market volumes decreased by 90.63 million shares to 548.99 million shares against 639.62 million shares traded a session earlier.

Among scrips, KEL topped the volumes with 154.66 million shares, followed by WTL (37.06 million) and FFL (27.3 million). Stocks that contributed significantly to the volumes included KEL, WTL, FFL, PRL, and BOP, which formed over 48 percent of total volumes.

A total of 359 companies traded shares in the stock exchange against 365 in the previous session, out of which shares of 155 closed up, shares of 183 companies closed down while shares of 21 companies remained unchanged. A total of 97 companies traded shares in the KSE-100 Index against 96 in the previous session, out of which share prices of 43 companies closed up, 48 companies closed down and six remained unchanged.

The number of total trades decreased to 196,656 from 223,011 recorded in the previous session, while the value traded decreased by Rs 4.88 billion to Rs 15.40 against Rs 20.28 billion in the previous session.

In terms of rupee, UPFL remained the top gainer with an increase of Rs 50 (+0.23 percent) per share, closing at Rs 22,250. The runner-up remained PSMC, the share price of which climbed up by Rs 43.67 (+7.5 percent) to Rs 625.91. MEHT remained the top loser with a decrease of Rs 20.95 (-4.02 percent) per share, closing at Rs 500, followed by THALL, the share price of which fell by Rs 9.5 (-3.08 percent) to close at Rs299.39 per share.

The major sectors taking the index towards south were commercial banks (51 points), oil & gas exploration companies (37 points), technology & communication and cement (27 points each), engineering (18 points), automobile parts and accessories (10 points), pharmaceuticals (8 points), and textile composite (7 points).

Ten major companies depriving the index of points remained OGDC (19 points), SYS (16 points), PPL (15 points), LUCK (13 points), HBL (12 points), and ISIL (7 points), THALL (6 points), MEBL (5 points), and MEHT and COLG (3 points each).

The major sectors taking the index towards north remained fertilizer (75 points), power generation and distribution (49 points), refinery (26 points), leather and tanneries (22 points), miscellaneous (10 points), automobile assembler (8 points), and tobacco (7 points).

Ten major companies adding points to the index remained HUBC (21 points), PSMC (17 points), EFERT and ENGRO (16 points each), FFC (13 points), SRVI (12 points), PSEL (9 points), HCAR (8 points), and MARI and POL (7 points each).