Fri. Mar 1st, 2024
Karachi Stock ExchangeKarachi Stock Exchange

Karachi Stock Exchange Turns Red as Profit-Taking Dominates After a Promising Start

This passage provides a detailed overview of the financial performance of the Pakistan Stock Exchange, particularly the KSE-100 Index, and related indices, as well as individual stock performances.

Here’s a breakdown of the key points:

  1. KSE-100 Index:
  • Intraday high: 66,564.04 points
  • Intraday low: 65,129.00 points
  • Closing: 66,012.33 points (down 211.31 points or 0.32 percent)
  1. Market Statistics:
  • Daily volumes on ready counter: 1.215 billion shares
  • Daily traded value on ready counter: Rs 33.423 billion
  1. BRIndex100:
  • Lost 32.15 points or 0.47 percent, closing at 6,783.19 points
  • Total daily turnover: 971.155 million shares
  1. BRIndex30:
  • Declined by 251.47 points or 1.04 percent, closing at 23,997.96 points
  • Total daily trading volumes: 645.612 million shares
  1. Foreign Investors:
  • Net buyers of shares worth $3.904 million
  1. Market Capitalization:
  • Declined by Rs 36 billion to Rs 9.462 trillion
  1. Individual Stock Performances:
  • Volume leader: K-Electric with 164.643 million shares
  • Top gainers: Mari Petroleum Company and Sapphire Fibres
  • Top losers: Nestle Pakistan and Rafhan Maize Products Company
  1. Analyst Commentary:
  • Analyst at Topline Securities mentioned that the market closed on a negative note after six consecutive days of strength.
  • Investors engaged in profit-taking, particularly in Power, OMC, and Banking sectors.
  1. Sectoral Indices:
  • Power, OMC, and Banking sectors faced selling pressure.
  • BR Tech. & Comm. Index increased by 73.9 points or 1.71 percent.
  • Other indices (Automobile Assembler, Cement, Commercial Banks, Power Generation and Distribution, Oil and Gas) experienced various degrees of decline or gain.
  1. Additional Commentary:
    • The stock exchange witnessed profit-taking after a significant increase of 4,500 points the previous week.
    • Traded volume: 1,216 million shares, with specific stocks like KEL, WTL, KOSM, PTC, and AKBL being the volume leaders.

the market experienced a negative trend with profit-taking, and different sectors and individual stocks showed varied performances during the trading session. The analyst comments provide insights into the market dynamics and factors influencing the stock prices.

FBR Set to Identify Non-filing Taxpayers, Including Bureaucrats and Bankers

By Zarish

Leave a Reply

Your email address will not be published. Required fields are marked *