KARACHI: The Pakistan stocks market witnessed another profit-taking session on Tuesday where the KSE-100 Index recovered at the end of the day to close at an edge of green level.
An analyst at Pearl Securities said that the investors seemed reluctant throughout the day amid a lack of positive triggers followed by prevailing uncertainty on the political front and damages caused from flash floods.
“The oil prices rose 3 per cent in the international market and the rupee depreciated to close at 221.42 against the dollar at the interbank today. Going forward, we expect the market to remain under pressure owing to the ongoing casualties in the country. Hence, we recommend our investors to book profits at a higher level,” he added.
The Pakistan Stock Exchange KSE-100 shares Index gained 1.06 points, to close at 41,860.36 points. The KSE-30 shares Index gained 0.02 per cent, or 3.25 points, to close at 15,750.79 points.
An analyst at Arif Habib Limited said that the KSE-100 Index opened in a positive zone, however investors’ participation remained sideways due to concern over rising inflation in the country besides continuous rupee depreciation in the interbank foreign exchange market.
“The volumes remain dry in the main board although hefty volumes were witnessed in the third tier stocks,” he added.
An analyst at JS Global said that the bourse witnessed a range-bound activity where the KSE-100 Index moved in a range of 243 points touching a high of 41,927 and a low of 41,684 points.
“Moving forward, we expect the range-bound activity to continue in the upcoming sessions where we recommend investors to avail any downside as an opportunity to buy in the cement and textile sectors,” he added.
As many as 335 scrips were active of which 146 advanced, 166 declined and 23 remained unchanged.
The ready market volumes stood at 187.26 million shares, compared with the turnover of 156.80 million shares in the last trading session.
The companies which reflected the highest gains included Premium Textile up Rs42 to close at Rs844/share, and Sanofi-Aventis up Rs39.45 to close at Rs1,100/share.
The companies which reflected the most losses included Sapphire Textile Rs96.45 to close at Rs1,189.55/share, and Pak Tobacco Pakistan down Rs37.72 to close at Rs752.27/share.
The highest volumes were witnessed in Hascol Petrol with a turnover of 46.80 million shares. The scrip gained 55 paisas to close at Rs7.09/share, followed by Pakistan International Airlines with a turnover of 10.87 million shares. It 59 paisas to close at Rs4.66/share. Fauji Foods remained the third with a turnover of 9.34 million shares. It gained 20 paisas to finish at Rs6.80/share.
