KARACHI: Pakistan Stock Exchange on Thursday witnessed a mixed trend and after moving both ways, closed on slightly positive note with low trading activity.
The benchmark KSE-100 Index hit 65,622.56 points intraday high and 64,437.70 points intraday low before closing at 65,450.19 points, up 170.03 points or 0.26 percent.
Trading activity remained low as daily volumes on ready counter decreased to 981.194 million shares as compared to 1,358.411 million shares traded Wednesday. The daily traded value on ready counter declined to Rs 23.743 billion against previous session’s Rs 37.657 billion.
BRIndex100 gained 38.58 points or 0.58 percent to close at 6,733.12 points with total daily turnover of 813.527 million shares.
BRIndex30 increased by 292.95 points or 1.23 percent to close at 24,196.00 points with total daily trading volumes of 481.791 million shares.
Foreign investors also remained net buyers of shares worth $512,827. Total market capitalization increased by Rs 46 billion to Rs 9.414 trillion. Out of total 389 active scrips, 198 closed in positive and 174 in negative while the value of 17 stocks remained unchanged.
Kohinoor Spinning was the volume leader with 160.178 million shares and gained Rs 0.76 to close at Rs 5.40 followed by Bank of Punjab that inched up by Rs 0.68 to close at Rs 6.97 with 89.773 million shares. Hascol Petroleum closed at Rs 8.33, up Rs 0.63 with 79.313 million shares.
Unilever Pakistan Foods and Sapphire Fibres were the top gainers increasing by Rs 175.00 and Rs 85.00 respectively to close at Rs 22,275.00 and Rs 1,784.50 while Rafhan Maize Products Company and Service Industries were the top losers declining by Rs 350.00 and Rs 23.28 respectively to close at Rs 10,000.00 and Rs 624.72.
“A volatile session was witnessed at PSX with the KSE-100 index eventually settling at the 65,450 level, gaining 170 points,” Mubashir Anis Naviwala at JS Global Capital said.
Traded volume stood at 981 million shares where KOSM (up 16.4 percent), BOP (up 10.8 percent), HASCOL (up 8.2 percent), WTL (up 1.8 percent) and KEL (down 0.4 percent) were the volume leaders.
BR Automobile Assembler Index decreased by 83.51 points or 0.58 percent to close at 14,253.23 points with total turnover of 10.653 million shares.
BR Cement Index gained 15.94 points or 0.23 percent to close at 6,988.15 points with 22.433 million shares.
BR Commercial Banks Index fell by 66.25 points or 0.42 percent to close at 15,755.41 points with 130.392 million shares.
BR Power Generation and Distribution Index lost 19.17 points or 0.13 percent to close at 14,492.26 points with 62.765 million shares.
BR Oil and Gas Index increased by 99.43 points or 1.61 percent to close at 6,257.45 points with 130.787 million shares.
BR Tech. & Comm. Index closed at 4,268.59 points, up 15.09 points or 0.35 percent with 92.856 million shares.
An analyst at Topline Securities said that the trading day for Pakistani equities commenced with a downward trend, extending its decline to revisit the previous day’s lows at around 64,400. However, buyers stepped in and effectively maintained support at this level once again. The market index then traded within a specific range for the remainder of the session, concluding at 65,450, reflecting a gain of 170 points or 0.26 percent.
During the trading hours, positive contributions from stocks in the Fertilizer, OMC, and Bank sectors, including PPL, FFC, OGDC, BOP, and MCB, collectively added 271 points. Conversely, stocks such as MEBL, UBL, and HUBC resulted in a combined loss of 112 points.
Copyright Business Recorder, 2023
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