• Pakistan equities market closed in a red zone on Tuesday.
• Analysts said investors opted for profit-taking after a range-bound session.
• KSE-100 shares Index shed 0.42 per cent, or 185.34 points, to close at 43,436.48 points.

KARACHI: The Pakistan equities market closed in a red zone on Tuesday as the investors opted for profit-taking after a range-bound session, analysts said.

An analyst at Arif Habib Limited said that the market observed a range-bound session, where the KSE-100 Index opened on a positive note.

“The investors opted to book profit which resulted in the Index to close in a red zone. The refineries and E&P sectors remained in the limelight due to result announcements during the day,” he added.

The investors’ participation remained healthy whereas hefty volumes were witnessed in the third tier stocks, he added.

The Pakistan Stock Exchange KSE-100 shares Index shed 0.42 per cent, or 185.34 points, to close at 43,436.48 points. The KSE-30 shares Index shed 0.22 per cent, or 36.97 points, to close at 16,431.40 points.

As many as 360 scrips were active of which 134 advanced, 208 declined and 18 remained unchanged.

The ready market volumes stood at 518.04 million shares, compared with the turnover of 541.54 million shares in the last trading session.

An analyst at Topline Securities said that Pakistan equities witnessed mixed activities in the session.

“Initially, the market carried forwarded bullish momentum and made an intraday high at 43,888 level. However, profit taking kicked-off at the aforesaid level which compelled the Index to close lower,” he added.

The companies which reflected the highest gains included Sanofi-Aventis up Rs89 to close at Rs1,490/share, Blessed Textile up Rs35.66 to close at Rs512/share.

The companies which reflected the most losses included Pak Services down Rs108 to close at Rs1,341/share, and Premium Textile down Rs44.91 to close at Rs675.09/share.

The highest volumes were witnessed in Cnergyico PK with a turnover of 44.62 million shares. The scrip shed 17 paisas to close at Rs5.59/share, followed by Fauji Foods with a turnover of 38.02 million shares. It gained 18 paisas to close at Rs7.25/share. Unity Foods remained the third with a turnover of 32.88 million shares. It gained 61 paisas to finish at Rs22.80/share.

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