KARACHI: Pakistan Stock Exchange on Thursday witnessed bullish trend and closed on strong positive note with healthy gains on the back of fresh buying mainly by local investors. The benchmark KSE-100 index hit 45,181.51 points intra-day high level and closed at 45,083.04 points, with net gain of 127.99 points or 0.28 percent. Trading activities also improved as daily volumes on ready counter increased to 173.590 million shares as compared to 137.309 million shares traded on Wednesday.
BRIndex100 gained 15.54 points or 0.34 percent to close at 4,618.47 points with total daily turnover of 156.907 million shares.
BRIndex30 increased by 264.93 points or 1.51 percent to close at 17,752.16 points with total daily trading volumes of 115.188 million shares.
The foreign investors however remained net sellers of shares worth $332,835. Total market capitalization declined by Rs 7 billion to Rs 7.704 trillion. Out of total 333 active scrips, 169 closed in negative and 135 in positive while the value of 29 stocks remained unchanged.
TRG Pak was the volume leader with 19.120 million shares and increased by Rs 4.64 to close at Rs 85.93 followed by Hum Network that gained Rs 0.22 to close at Rs 6.96 with 15.242 million shares.
Sapphire Fiber and Pak Services were the top gainers increasing by Rs 48.98 and Rs 41.00 respectively to close at Rs 860.98 and Rs 1650.00 while Unilever Foods and Colgate Palmolive were the top losers declining by Rs 134.00 and Rs 66.00 respectively to close at Rs 22,275.00 and Rs 2400.00.
An analyst at Topline Securities said that Pakistan equities closed positive as the benchmark KSE-100 Index settled at 45,083 level, up 0.28 percent.
The market opened on positive note as investors cheered T-Bill auction as cut-off yields declined by 15-70bps. Major positivity came from TRG, HUBC, MARI, ABL, LUCK and UNITY. Meanwhile on the flip side PAKT, FFBL, COLG and DAWH closed lower.
BR Automobile Assembler Index lost 54.47 points or 0.64 percent to close at 8,495.55 points with total turnover of 545,420 shares.
BR Cement Index gained 14.57 points or 0.25 percent to close at 5,735.86 points with 6.304 million shares.
BR Commercial Banks Index inched up by 21.42 points or 0.21 percent to close at 10,123.62 points with 12.982 million shares.
BR Power Generation and Distribution Index increased by 61.69 points or 1.02 percent to close at 6,125.76 points with 12.902 million shares. BR Oil and Gas Index closed at 3,886.47 points, up 11.63 points or 0.3 percent with 5.508 million shares.
BR Tech. & Comm. Index surged by 63.93 points or 1.71 percent to close at 3,791.83 points with 54.541 million shares.
An analyst at Arif Habib Limited said that range bound session was witnessed due to the concerns over mounting international oil prices and rising Covid-19 cases. Oil touched $90 a barrel for the first time in seven years supported by tight supply and rising political tensions between Russia and Ukraine that added to concerns about further disruption in an already-tight market.
The market opened on a positive note but soon after profit taking was witnessed across the board. Main board activity remained gloomy. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. In the last trading hour, value buying was observed due to announcement of corporate results. Sectors contributing to the performance include technology (up 62.7 points), power (up 28.4 points), commercial banks (up 22.1 points), misc sectors (up 20.9 points) and E&P (up 17.4 points).
Copyright Business Recorder, 2022
Comments
Comments are closed.