KARACHI: Share pri­ces settled on the lower side after hovering within a short range throughout the trading session on Wednesday.

Arif Habib Ltd said the benchmark of representative shares traded in the green initially but moved both ways later on because of political noise as well as recent developments on the front of the International Monetary Fund programme.

Stocks dipped in the final trading hour as investors chose to book profits. Volumes remained strong across the board, with third-tier equities dominating the volume board.

A downtrend in the currency market also contributed to the negative sentiments on the national bourse.

As a result, the KSE-100 index settled at 41,833.66 points, down 172.59 points or 0.41 per cent from the preceding session.

The overall trading volume decreased 36pc to 125.5 million shares. The traded value went down 69.8pc to $12.4m on a day-on-day basis.

Stocks contributing significantly to the traded volume included World­Call Telecom Ltd (18.4m shares), Fauji Foods Ltd (8.4m shares), Hum Network Ltd (6m shares), Balochistan Glass Ltd (3.9m shares) and Lotte Chemical Pakistan Ltd (3.5m shares).

Sectors contributing the most to the index performance were exploration and production (-90.1 points), commercial banking (-35.1 points), investment banking (-34.1 points), technology and communication (-33.7 points) and cement (-27.6 points).

Companies registering the biggest increases in their share prices in absolute terms were Nestle Pakistan Ltd (Rs150.01), Rafhan Maize Products Company Ltd (Rs149.99), Premium Textile Mills Ltd (Rs33.12), Blessed Textiles Ltd (Rs26.20) and Service Industries Ltd (Rs18.39).

Companies that recor­ded the biggest declines in their share prices in absolute terms were Sapphire Fibres Ltd (Rs86.92), Bhanero Textile Mills Ltd (Rs78.58), Bata Pakistan Ltd (Rs24.99), Pakistan Oilfields Ltd (Rs8.89) and Mari Petroleum Company Ltd (Rs7.28).

Foreign investors were net sellers as they offlo­aded shares worth $0.09m.

Published in Dawn, May 18th, 2023

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

Opinion

On writing

On writing

There is no ceremony or ritual that marks any person as a writer except the simple yet unimaginably significant act of starting to write.

Editorial

A way forward
Updated 17 Jul, 2024

A way forward

Before political leaders inflict more damage, they must give talks a chance.
Export delusions
Updated 18 Jul, 2024

Export delusions

Plummeting exports as a ratio of GDP is one of the major reasons driving the current economic slowdown and the balance-of-payments crisis.
Diversity in UK politics
17 Jul, 2024

Diversity in UK politics

THE recent UK elections have ushered in the most diverse parliament in the nation’s history. Under the leadership...
Banning PTI
Updated 16 Jul, 2024

Banning PTI

It appears that the govt and its backers within the establishment have still not realised that they are in uncharted territory.
Nato at 75
16 Jul, 2024

Nato at 75

EMERGING from the ashes of World War II, and locked in confrontation with the Soviet-led Communist bloc for over ...
Non-stop massacres
16 Jul, 2024

Non-stop massacres

Netanyahu is cunningly pretending to talk peace while mercilessly pounding Gaza. What is clear is that a return to pre-Oct 7 status quo is impossible.