KARACHI: The shares market saw a range-bound session on Monday as investors remained concerned about mounting inflation as well as other economic and political challenges.

Arif Habib Ltd said no materialisation of the promised funds from friendly nations kept investors’ sentiments in check. Volatility marred the benchmark index, which moved sideways owing to the continuous flight of the dollar against the rupee.

The local currency depreciated 0.71 per cent on Monday against the greenback to close at 229.82 in the interbank market. Analysts expect a rising import bill amidst devastating floods that have destroyed standing crops in most parts of the country.

As a result, the KSE-100 index settled at 41,862.29 points, down 85.87 points or 0.2pc from the preceding close.

The trading volume increased 10.1pc to 161.4 million shares while the traded value went down 18.2pc to $25.4m on a day-on-day basis.

Stocks contributing significantly to the traded volume included HBL Total Treasury ETF (45m shares), TRG Pakistan Ltd (15.74m shares), WorldCall Telecom Ltd (9.94m shares), Standard Chartered Bank Pakistan Ltd (6.33m shares) and K-Electric Ltd (5m shares).

Sectors that contributed negatively to the index performance were cement (28.5 points), food and personal care (18.4 points), chemical (17 points), fertiliser (15.4 points) and investment banking (14.5 points).

Companies registering the biggest increase in their share prices in absolute terms were Sapphire Textile Mills Ltd (Rs74.40), The Thal Industries Corporation Ltd (Rs17.39), Sapphire Fibres Ltd (Rs16.69), Atlas Honda Ltd (Rs12) and Punjab Oil Mills Ltd (Rs8.72).

Shares that declined the most in rupee terms were Unilever Pakistan Foods Ltd (Rs500), Premium Textile Mills Ltd (Rs64.09), ICI Pakistan Ltd (Rs33.24), Colgate-Palmolive Pakistan Ltd (Rs29.12) and Reliance Cotton Spinning Mills Ltd (Rs27).

Foreign investors remained net buyers as they purchased shares worth $1.3m.

Published in Dawn, September 13th, 2022

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