KARACHI: Bulls lifted the benchmark index of the Pakistan Stock Exchange in the first half of the trading session on Tuesday.

However, subsequent profit-taking shaved off the earlier gains even though the index still closed in the positive territory, said JS Global. A lack of triggers resulted in a dull-volume session, it added.

According to Arif Habib Ltd, trading remained range-bound because investors’ participation was thin throughout the day owing to the weakening of the rupee against the dollar.

The rupee closed at 231.92 per dollar, down 0.91 per cent from the preceding close. Analysts said the demand for dollars was rising in view of the expected increase in the import bill following the nationwide floods.

As a result, the KSE-100 index settled at 42,001.34 points, up 139.05 points or 0.33pc from a day ago.

The trading volume dec­reased 26.6pc to 118.5 million shares while the traded value went down 33.3pc to $16.7m on a day-on-day basis.

Stocks contributing significantly to the traded volume included Hascol Petroleum Ltd (10.21m shares), K-Electric Ltd (6.92m shares), Quice Food Industries Ltd (5.41m shares), JS Bank Ltd (5.03m shares) and WorldCall Telecom Ltd (4.26m shares).

Sectors that contributed to the index performance were banking (75 points), automobile assembling (35.7 points), cement (33.5 points), power (22 points) and textile (8.5 points).

Companies registering the biggest increase in their share prices in absolute terms were Sapphire Textile Mills Ltd (Rs41.09), Millat Tractors Ltd (Rs29.87), Colgate-Palm­olive Pakistan Ltd (Rs27), Sanofi-Aventis Pakistan Ltd (Rs26.37) and Otsuka Pakistan Ltd (Rs10.30).

Shares that declined the most in rupee terms were Sapphire Fibres Ltd (Rs94), Siemens Pakistan Engin­eering Ltd (Rs37.33), Reli­ance Cotton Spinning Mills Ltd (Rs23), Pakistan Engi­neering Company

Ltd (Rs21.75) and Fazal Cloth Mills Ltd (Rs16.23). Foreign investors remained net buyers as they purchased shares worth $1.21m.

Published in Dawn, September 14th, 2022

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.