KARACHI: On Tuesday, the KSE-100 Index remained bearish throughout the day. The index lost 36.03 points on following the delay in the signing of Memorandum of Understanding (MoU) between Ministry of Finance and Independent Power Producers (IPPs).
The KSE-100 index closed down by 36.03 points (0.08 percent) after closing at 44,650.43 points against the previous closing of 44,686.46 points. The buying on dips pushed the index up to 44,830.28 points during intra-day trading, while the attractive gains followed by previous rally triggered selling that pushed the Index as low as 44,463.80 points.
Trading volume increased to 582.3 million shares today as compared to 540.8 million traded in the previous session, according to the PSX website data. The daily traded value declined to Rs 24.23 billion from Rs 26.66 billion in the previous session, the data said.
According to a report issued by the AKD Securities, the market fluctuated today as investors opted to book profits in energy and utility sectors after its stellar run in the last few days with selling pressure spilling over the broader market.
However, the selected interest was evident selected tech, banks and the cement sector that supported the market to close just marginally down.
The analyst said that interest was evident in selected tech, bank and the cement sector after local dispatches recorded a 17.5 per cent MoM growth in December 2020 compared to Nov’ 2020. In term of volumes, the overall market traded 714 million shares (up 5% DoD) where TRG recorded the highest volumes for the day with 31 million shares traded followed by PAEL (26 million shares traded) and KAPCO (26 million shares traded). HUBC contributed the most to the index decline (down by 3.84%) while TRG provided the biggest boost (up 3.51%) to the benchmark.
The share price of Colgate Palmolive increased by Rs 44.00 to Rs 3,024 while Gillete Pak gained Rs 27.30 to Rs 417.86. Similarly, Indus Dyeing lost Rs 31.99 today to close at Rs 500.01 while Gatron Ind. lost Rs 30.00 to close at Rs 590.00.