KARACHI: The Pakistan bourse witnessed a profit-taking session on Tuesday as the blurry picture regarding the inflow from the International Monetary Fund (IMF) restricted the participants’ interest during the day.
“On the political front, Imran Khan has said that his party would hold a sit-in at Islamabad until the announcement of the general election. As a result, the market made an intraday high of 46,185 and a low of 45,783 to close at 45,818 level,” an analyst at Pearl Securities said.
The Pakistan Stock Exchange KSE-100 shares Index shed 0.55 per cent, or 255.57 points, to close at 45,817.68 points. The KSE-30 shares Index shed 0.60 per cent, or 107.80 points, to close at 17,732.79 points.
The ready market volumes stood at 210.20 million shares compared with the turnover of 368.83 million shares in the last trading session.
“Going forward, we expect the market to observe mixed sentiments ahead of week-long Eid holidays and ongoing political uncertainty. Therefore, we recommend our investors book profits at a higher level,” the analyst added.
An analyst at Topline Securities said that the equities closed negative where benchmark KSE-100 Index settled below the psychological barrier of 46,000.
“After a slight positive opening, the market traded sideways where KSE-100 Index made an intraday low of 290 points as investors showed concern over the ongoing talks with the IMF,” he added.
The companies which reflected the highest gains included Nestle Pakistan up Rs149.99 to close at Rs5,849.99/share, and Bhanero Tex up Rs100 to close at Rs1,470/share.
The companies that reflected the most losses included Colgate Palm down Rs66.66 to close at Rs2,155.56/share, and Bata (Pak) down Rs54.99 to close at Rs2,245/share.
The highest volumes were witnessed in G3 Technologies with a turnover of 18.85 million shares. The scrip gained 65 paisas to close at Rs11.72/share, followed by Lotte Chemical with a turnover of 17.91 million shares. It gained Rs1.53 to close at Rs21.96/share. Hum Network remained the third with a turnover of 14.29 million shares. It shed 25 paisas to finish at Rs8.26/share.
