KARACHI: Pakistan Stock Exchange on Tuesday witnessed seventh consecutive bullish session on the back of healthy buying, mainly by local investors.
The benchmark KSE-100 Index surged by 418.48 points or 0.88 percent and crossed 48,000 psychological level to close at 48,140.28 points. The index hit 48,166.36 points intraday high and 47,708.11 points intraday low.
Trading activity also improved significantly as daily volumes on ready counter increased to 350.067 million shares as compared to 233.661 million shares traded on Monday. The daily traded value on ready counter increased to Rs 10.762 billion against previous session’s Rs 7.076 billion.
BRIndex100 added 57.95 points or 1.2 percent to close at 4,874.50 points with total daily turnover of 311.838 million shares.
BRIndex30 increased by 160.96 points or 0.95 percent to close at 17,193.48 points with total daily trading volumes of 211.353 million shares.
Foreign investors however remained net sellers of shares worth $125,802. Total market capitalization increased by Rs 53 billion to Rs 7.089 trillion. Out of total 347 active scrips, 227 closed in positive and only 96 in negative while the value of 24 stocks remained unchanged.
K-Electric was the volume leader with 33.899 million shares and gained Rs 0.16 to close at Rs 2.46 followed by Pak Refinery that increased by Rs 0.67 to close at Rs 16.43 with 26.344 million shares. WorldCall Telecom closed at Rs 1.30, up Rs 0.01 with 21.448 million shares.
Unilever Foods and Sapphire Fiber were the top gainers increasing by Rs 550.00 and Rs 69.99, respectively to close at Rs 21250.00 and Rs 1144.99 while Nestle Pakistan and Thal Ind. Corp were the top losers declining by Rs 100.00 and Rs 10.90 respectively to close at Rs 7000.00 and Rs 227.09.
An analyst at Topline Securities said that the Pakistan equities market has sustained a bullish trend for seven consecutive days, closing at an index of 48,140 points up 0.88 percent.
The positive momentum was driven by the banking, fertilizer, and refinery sectors, including MEBL, FFC, ATRL, UBL, and BAHL, contributing a total of plus 153 points. Conversely, NESTLE, MTL, and COLG collectively incurred a loss of 30 points.
BR Automobile Assembler Index lost 41.16 points or 0.45 percent to close at 9,177.04 points with total turnover of 14.444 million shares.
BR Cement Index added 39.42 points or 0.78 percent to close at 5,081.42 points with 29.370 million shares.
BR Commercial Banks Index increased by 128.57 points or 1.15 percent to close at 11,318.13 points with 18.693 million shares.
BR Power Generation and Distribution Index gained 75.19 points or 0.76 percent to close at 9,998.48 points with 42.887 million shares.
BR Oil and Gas Index inched up by 21.92 points or 0.5 percent to close at 4,398.62 points with 16.469 million shares.
BR Tech. & Comm. Index closed at 3,653.71 points, up 20.98 points or 0.58 percent with 44.662 million shares.
Muhammad Shuja Qureshi at JS Global Capital said that psychological barrier of 48,000 was breached as the KSE-100 Index closed at 48,140, gaining 418 points.
The rally was broad-based as all major sectors posted gains, led by strong financial results announced by ATRL (up 7.5 percent), APL (up 3.6 percent) and NRL (up 6.6 percent).
The market turnover increased to 350 million shares, where KEL (up 7.0 percent), PRL (up 4.3 percent), WTL (up 0.8 percent), PAEL (up 9.1 percent) and DFML (up 4.6 percent) were the volume leaders.
Copyright Business Recorder, 2023
Comments
Comments are closed.