KARACHI: Pakistan Stock Exchange on Thursday witnessed mixed trend during initial hours however closed on positive note on the back of healthy buying by both local and foreign investors. BRIndex100 gained 13.3 points or 0.28 percent to close at 4,795.59 points. During the session, the BRIndex-100 hit an intraday high of 4,837.85 and an intraday low of 4,780.55 points. Total volumes stood at 594.381 million shares.
BRIndex30 closed at 24,072.97 points, down 155.64 points or 0.64 percent with total daily turnover of 425.988 million shares.
KSE-100 index increased by 191.12 points or 0.42 percent and closed at 45,344.54 points. Daily trading volumes on ready counter stood at 641.437 million shares as compared to 664.538 million shares traded on Wednesday.
The foreign investors also remained net buyers of shares worth $2.386 million. Total market capitalization increased by Rs 6 billion to Rs 8.249 trillion. Out of total 407 active scrips, 222 closed in negative and 168 in positive while the value of 17 stocks remained unchanged.
Byco Petroleum was the volume leader with 94.868 million shares and gained Re 0.02 to close at Rs 9.81 followed by Power Cement, after moving both sides closed at the last day’s closing level of Rs 10.42 with 34.203 million shares. Indus Dyeing and Premium Textile were the top gainers increasing by Rs 40.00 and Rs 19.12 respectively to close at Rs 577.00 and Rs 274.12 while Atlas Honda Limited and Gillette Pak were the top losers declining by Rs 20.00 and Rs 16.81 respectively to close at Rs 500.00 and Rs 410.05.
BR Automobile Assembler Index lost 41.91 points or 0.48 percent to close at 8,652.06 points with total turnover of 6.430 million shares.
BR Cement Index decreased by 46.18 points or 0.73 percent to close at 6,262.69 points with 60.012 million shares.
BR Commercial Banks Index increased by 152.42 points or 1.66 percent to close at 9,345.32 points with 78.632 million shares.
BR Power Generation and Distribution Index gained 7.02 points or 0.13 percent to close at 5,604.43 points with 58.109 million shares.
BR Oil and Gas Index closed at 4,282.38 points, down 44.76 points or 1.03 percent with 33.624 million shares.
BR Tech & Comm Index inched up by 4.81 points or 0.18 percent to close at 2,673.30 points with 47.315 million shares.
Maaz Mulla at JS Global Capital said bulls continued to dominate the index, with the market touching a high of positive 466 points but then lost pace, eventually closing at plus 191 points at 45,345 level.
Market channels suggest that the government is set to unveil an ambitious Textile Policy with cash subsidies and other incentives to boost exports. Furthermore, the policy could attract domestic and foreign investment in the textiles value chain and the development of value-added sectors, with a prime focus on small and medium enterprises (SMEs).
However it has boosted Textile sector, where ILP (up 3.0 percent), CTRM (up 2.7 percent), FML (up 3.2 percent), NML (up 1.2 percent) and KTML (up 1.4 percent) closed higher.
Banking space witnessed heavy investor participation where UBL (up 6.0 percent), HBL (up 1.9 percent), BAHL (up 2.0 percent), BAFL (up 1.7 percent) and ABL (up 1.2 percent) were major movers as most stocks closed in the green trajectory.
Despite oil prices edged higher in the international market, selling pressure was witnessed in OGDC (down 1.2 percent) and PPL (down 1.9 percent) closing in the red trajectory.
Copyright Business Recorder, 2021
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