KARACHI: Pakistan Stock Exchange on Tuesday witnessed a bullish trend and closed on strong positive note on the back of healthy buying in almost all sectors.
The benchmark KSE-100 Index surged by 362.53 points or 0.79 percent and closed at 46,417.34 points. The index hit 46,540.88 points intraday high and 46,019.63 points intraday low.
Trading activity also improved as daily volumes on ready counter increased to 319.893 million shares as compared to 299.076 million shares traded on Monday. The daily traded value on ready counter increased to Rs 10.259 billion against previous session’s Rs 8.139 billion.
BRIndex100 added 44.84 points or 0.96 percent to close at 4,702.85 points with total daily turnover of 279.878 million shares. BRIndex30 increased by 247.6 points or 1.54 percent to close at 16,361.24 points with total daily trading volumes of 188.092 million shares.
Foreign investors also remained net buyers of shares worth $637,730. Total market capitalization increased by Rs 47 billion to Rs 7.036 trillion. Out of total 350 active scrips, 197 closed in positive and 128 in negative while the value of 25 stocks remained unchanged.
WorldCall Telecom was the volume leader with 41.974 million shares and closed on previous session’s closing level of Rs 1.41 without any change followed by Fauji Foods that gained Rs 0.32 to close at Rs 7.07 with 26.058 million shares. K-Electric closed at Rs 2.14, down Rs 0.01 with 15.647 million shares.
Unilever Foods and Al-Abbas Sugar were the top gainers increasing by Rs 350.00 and Rs 35.40 respectively to close at Rs 22800.00 and Rs 516.00 while Sapphire Fiber and J. D. W. Sugar were the top losers declining by Rs 71.00 and Rs 29.00 respectively to close at Rs 1224.00 and Rs 379.00.
An analyst at Topline Securities said Pakistan equities further gained as the KSE-100 Index closed the day at 46,417, up 0.79 percent. The aforesaid momentum can be attributed to ongoing rally in banking and energy sector stock.
During the trading hours, bank, fertilizer, E&P and auto sector contributed positive to the index where HBL, OGDC, BAHL, MCB and HMB gained 206 points. On the other side, DAWH, JDWS, THALL and SEARL lost 18 points collectively. BR Automobile Assembler Index added 51.08 points or 0.6 percent to close at 8,565.44 points with total turnover of 6.839 million shares.
BR Cement Index inched up by 8.55 points or 0.17 percent to close at 4,968.53 points with 8.178 million shares.
BR Commercial Banks Index surged by 201.43 points or 1.93 percent to close at 10,651.52 points with 42.770 million shares.
BR Power Generation and Distribution Index gained 16.73 points or 0.19 percent to close at 8,640.32 points with 22.677 million shares.
BR Oil and Gas Index increased by 41.46 points or 1.0 percent to close at 4,195.11 points with 33.383 million shares.
BR Tech. & Comm. Index closed at 4,002.15 points, up 21.52 points or 0.54 percent with 58.801 million shares.
Muhammad Shuja Qureshi at JS Global Capital said bulls remained in command taking the KSE-100 Index to 46,417, gaining 363 points. HBL closed limit up sustaining momentum in the banking sector.
E&P stocks also gained as crude oil rose in international markets. The market turnover increased slightly to 320 million shares, where WTL (zero percent), FFL (up 4.7 percent), KEL (down 0.5 percent), OGDC (up 2.3 percent), and HBL (up 7.5 percent) were the volume leaders.
Copyright Business Recorder, 2023
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