KARACHI: Pakistan Stock Exchange on Tuesday witnessed a bullish trend and closed on strong positive note with healthy gains on the back of aggressive buying, mainly by local investors coupled with institutional support. The benchmark KSE-100 Index surged by 728.55 points or 0.92 percent and crossed 79,000 psychological level to close at 79,552.89 points. The index hit 79,740.35 points intraday high, however closed at lower level due to profit-taking in some stocks.
Trading activity also improved as daily volumes on ready counter increased to 413.153 million shares as compared to 306.038 million shares traded on Monday. The daily traded value on the ready counter increased to Rs 16.597 billion against previous session’s Rs 13.746 billion.
BRIndex100 added 101.01 points or 1.21 percent to close at 8,428.54 points with total daily turnover of 326.294 million shares.
BRIndex30 increased by 257.71 points or 0.97 percent to close at 26,963.28 points with total daily trading volumes of 187.055 million shares.
Foreign investors however remained net sellers of shares worth $10,006. Total market capitalization increased by Rs 85 billion to Rs 10.517 trillion. Out of total 431 active scrips, 246 closed in positive and 128 in negative while the value of 57 stocks remained unchanged.
WorldCall Telecom was the volume leader with 23.801 million shares and inched up by Rs 0.02 to close at Rs 1.27 followed by K-Electric that gained Rs 0.16 to close at Rs 4.73 with 23.104 million shares. National Bank of Pakistan increased by Rs 3.42 and closed at Rs 41.44 with 20.129 million shares.
Philip Morris Pakistan and Data Agro Limited were the top gainers increasing by Rs 50.28 and Rs 24.07 respectively to close at Rs 608.91 and Rs 291.52 while Sapphire Fibres and Nestle Pakistan were the top losers declining by Rs 123.80 and Rs 69.95 respectively to close at Rs 1,466.20 and Rs 6,931.00.
An analyst at Topline Securities said Pakistan’s equity market saw positive movement. The Fertilizer, Exploration & Production (E&P), and Banking sectors were key contributors, led by FFC, PPL, NBP, INIL, and UBL, collectively adding 340 points.
BR Automobile Assembler Index gained 45.76 points of 0.27 percent to close at 16,891.80 points with 20.771 million shares.
BR Cement Index added 57.42 points or 0.74 percent to close at 7,766.28 points with 25.852 million shares.
BR Commercial Banks Index surged by 263.71 points or 1.19 percent to close at 22,487.56 points with 57.294 million shares.
BR Power Generation and Distribution Index inched up by 57.29 points or 0.29 percent to close at 19,767.66 points with 28.343 million shares.
BR Oil and Gas Index increased by 67.45 points or 1.02 percent to close at 6,673.54 points with 26.509 million shares.
BR Tech. & Comm. Index soared by 36.03 points or 0.92 percent to close at 3,961.34 points with 58.096 million shares.
Mubashir Anis Naviwala at JS Global Capital said the market opened on a positive note, extending Monday’s bull-run with an intraday gain of over 916 points.
Traded volume reached 413 million shares. Volume leaders were WTL (up 1.6 percent), KEL (up 3.5 percent), NBP (up 9.0 percent), DFML (up 7.3 percent), and FFBL (up 4.5 percent).
Copyright Business Recorder, 2024
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