KARACHI: The stock market closed flat on Wednesday due to a lack of triggers. Trading activity remained limited, with investors resorting to profit-taking at all levels, according to Arif Habib Ltd.
The market opened on a positive note and managed to stay in the green zone during the day, with third-tier stocks seeing high volumes.
“We believe the index may undergo a short-term correction from current levels and recommend a buying strategy if technology, fertilizer, banking and cyclical stocks fall,” said JS Global.
As a result, the benchmark gained 35.12 points or 0.08 percent to close at 45,916.25 points.
Market participation increased 51.7 percent to 514.4 million shares while the value of traded shares rose 8.8 percent to $ 60.2 million.
The sectors that contributed the most points to the benchmark were oil and gas exploration (53.44 points), fertilizers (21.05 points), textiles (10.55 points), production and electricity distribution (10.09 points) and investment banking (5.38 points).
Stocks that significantly contributed to trading volume included WorldCall Telecom Ltd (133.9 million shares), Unity Foods Ltd (39.14 million shares), Hascol Petroleum Ltd (23.43 million shares) , Cnergyico PK Ltd (22.76 million shares) and TeleCard Ltd (19.46 million shares). actions).
The stocks contributing positively to the index include Oil and Gas Development Company Ltd (18.43 points), Pakistan Petroleum Ltd (13.23 points), Fauji Fertilizer Ltd (11.86 points), Mari Petroleum Company Ltd (11.12 points) and Pakistan Oilfields Ltd (10.65 points).
The stocks that removed the most points from the index are TRG Pakistan Ltd (30.75 points), MCB Bank Ltd (16.17 points), Lucky Cement Ltd (13.07 points), Habib Bank Ltd (10, 30 points) and Nestlé Pakistan Ltd (9.88 points). points).
The stocks with the biggest percentage increases include Pakistan Telecommunication Company Ltd, which rose 3.95%, followed by Azgard Nine Ltd (3.24%), Gadoon Textile Mills Ltd (2.28%), Cnergyico PK Ltd (2.08%) and Bannu Woolen Mills. Ltd (1.99 pc).
Foreign investors were net buyers as they bought securities worth $ 0.055 million.
Posted in Dawn, January 13, 2022