RECORDER REPORT
KARACHI: Pakistan Stock Exchange (PSX) ended on a mixed note on Wednesday, as investors opted for profit-taking following a strong rally in the previous session, even as trading volumes surged to exceptional levels.
The benchmark KSE-100 Index gained 210.36 points, or 0.13 percent, to settle at 165,686.38 points as compared to 165,476.02 on Tuesday. The index touched an intraday high of 167,561.69 and low of 165.357.21 points during the session.
On Wednesday, BRIndex100 closed at 17,363.82, gaining 44.47 points, or 0.26 percent, from the previous close. The total volume stood at 1,364.10 million shares. BRIndex30 settled at 55,195.50, down 12.41 points, or 0.02 percent, from the previous close, with a total volume of 1,029.97 million shares.
According to Topline Securities, the session remained broadly volatile, reflecting a mix of investor sentiment and profit-taking following the sharp rally a day earlier. It added that market momentum was supported by strong performances in Fauji Fertilizer Company (FFC), Meezan Bank Limited (MEBL), Mari Petroleum (MARI), Bank Alfalah (BAFL), and Pakistan State Oil (PSEL), which collectively contributed 574 points to the KSE-100 Index. Their gains, however, were partially offset by corrections in Systems Limited (SYS), Lucky Cement (LUCK), and Engro Fertilizers (EFERT), which together eroded 388 points.
Trading activity soared across the board. Regular Market volume jumped to 1.53 billion shares, compared with 1.18 billion a day earlier. The traded value also climbed sharply to Rs 68.60 billion from Rs 59.20 billion, while market capitalization increased to Rs 19.18 trillion from Rs 19.10 trillion adding about Rs 73 billion in the market wealth.
The broader market breadth favored the bulls, with 249 companies advancing, 204 declining, and 36 remaining unchanged out of 489 actively traded scrips.
Volume leadership was dominated by K-Electric Limited, which accounted for 383.1 million shares and closed higher at Rs 7.65. Bank of Punjab followed with 142.1 million shares, gaining to Rs 35.53. Other active names included WorldCall Telecom saw 116.4 million shares changing hands and closed the day at Rs 1.74.
In major price movements, Hoechst Pakistan Limited emerged as the top gainer, soaring by Rs 144.26 to Rs 4,154.50, followed by Nestle Pakistan Limited, which gained Rs 132.86 to Rs 8,335.00. On the losing side, PIA Holding Company LimitedB declined Rs 89.33 to Rs 24,550.22, while Khyber Textile Mills Limited fell Rs 70.69 to Rs 1,897.13.
The BR Automobile Assembler Index closed at 25,259.00, down 52.53 points, or 0.21 percent, with a total turnover of 9.71 million shares.
The BR Cement Index ended at 13,195.58, losing 167.98 points, or 1.26 percent, on a total turnover of 35.98 million shares.
The BR Commercial Banks Index finished at 50,579.14, gaining 509.76 points, or 1.02 percent, with a robust turnover of 230.07 million shares.
The BR Power Generation and Distribution Index closed at 28,926.68, up 209.21 points, or 0.73 percent, with a total turnover of 409.59 million shares.
The BR Oil and Gas Index settled at 14,258.01, rising 15.47 points, or 0.11 percent, on a total turnover of 75.15 million shares.
Meanwhile, the BR Technology and Communication Index fell to 3,964.60, down 54.87 points, or 1.37 percent, with a total turnover of 282.77 million shares.
