KARACHI: The stock market witnessed volatile trading on Tuesday amidst mounting international oil prices, according to Arif Habib Ltd.
Global coal prices also hovered on the higher side, leaving stocks in the cement sector under pressure. Investors failed to sustain the physiological level of 46,000 points and resorted to across-the-board profit-taking.
Trading remained dull mainly because the market hunted unsuccessfully for a fresh trigger to move up from the current level, said JS Global.
As a result, the KSE-100 index gained 106.7 points or 0.23 per cent to close at 45,947.95 points.
The trading volume increased 24.8pc to 187.4 million shares while the traded value went up 13.5pc to $40.7m on a day-on-day basis.
Sectors that contributed the highest number of points to the benchmark index included fertiliser (80.88 points), chemical (32.96 points), investment banking (28.69 points), textile (23.79 points) and power generation and distribution (16.67 points).
Stocks contributing significantly to the traded volume included Hum Network Ltd (23.13m shares), Engro Polymer and Chemicals Ltd (14.7m shares), WorldCall Telecom Ltd (14.2m shares), K-Electric Ltd (10.17m shares) and Pak Elektron Ltd (10.15m shares).
Shares contributing positively to the index included Engro Corporation Ltd (66.7 points), Dawood Hercules Corporation Ltd (30.84 points), Engro Polymer and Chemicals Ltd (28.58 points), Nishat Mills Ltd (16.06 points) and TRG Pakistan Ltd (15.17 points).
Stocks that took away the maximum number of points from the index included Bank AL Habib Ltd (15.79 points), Systems Ltd (13.11 points), Pakistan Petroleum Ltd (11.01 points), Frieslandcampina Engro Pakistan Ltd (8.93 points) and MCB Bank Ltd (8.46 points).
Stocks recording the biggest declines in percentage terms included Shakarganj Ltd, which went up 7.47pc, followed by Engro Polymer and Chemicals Ltd (6.43pc), K-Electric Ltd (5.35pc), Nishat Mills Ltd (4.51pc) and Dawood Hercules Corporation Ltd (3.83pc).
Foreign investors were net buyers as they purchased shares worth $0.89m.
Published in Dawn, February 9th, 2022
