KARACHI: Pakistan Stock Exchange, after positive opening on Friday, witnessed a mixed trend. However, fresh buying at the fag end supported it to close in green zone.
The KSE-100 Index increased by 178.41 points or 0.41 percent to once again cross 44,000 psychological level to close at 44,114.16 points. Trading activity also improved as daily volumes on ready counter increased to 289.847 million shares as compared to 195.174 million shares traded Thursday.
BRIndex100 gained 8.48 points or 0.19 percent to close at 4,503.17 points with total daily turnover of 237.370 million shares.
BRIndex30 however closed on negative note at 18,201.08, down 100.48 points or 0.55 percent with total daily trading volumes of 150.186 million shares.
The market capitalization increased by Rs 13 billion to Rs 7.587 trillion. Out of total 338 active scrips, 175 closed in positive and 146 in negative while the value of 17 stocks remained unchanged.
WorldCall Telecom was the volume leader with 34.179 million shares however closed on previous day’s closing level of Rs 2.11 without any change followed by TPL Properties that gained Rs 0.50 to close at Rs 43.23 with 17.210 million shares.
Philip Morris Pak and Siemens Pak were the top gainers increasing by Rs 56.00 and Rs 43.12 respectively to close at Rs 806.00 and Rs 618.12 while Nestle Pakistan and Sapphire Fiber were the top losers declining by Rs 101.67 and Rs 59.99, respectively to close at Rs 5500.33 and Rs 840.00.
An analyst at Arif Habib Limited said that battle between bulls and bears was conquered by the bulls in the last trading hour. The market opened with a positive momentum as investors perceived that last leg of foreign selling spree was completed on the last trading day.
Forecast of investors failed as foreign selling continued and led the market back to red territory. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, in the second session institutional buyers started fetching value stocks due to attractive multiples which led the market to close in green zone.
Sectors contributing to the performance include Commercial Banks (up 74 points), Power (up 53 points), Fertilizer (up 48 points), Cement (up 34 points) and Pharmaceuticals (up 15 points).
BR Automobile Assembler Index gained 63.12 points or 0.74 percent to close at 8,563.79 points with total turnover of 4.729 million shares.
BR Cement Index increased by 46.38 points or 0.83 percent to close at 5,646.78 points with 14.723 million shares.
BR Commercial Banks Index added 62.13 points or 0.62 percent to close at 10,007.38 points with 22.874 million shares.
BR Power Generation and Distribution Index surged by 110.14 points or 2.1 percent to close at 5,367.25 points with 12.354 million shares.
BR Oil and Gas Index lost 35.67 points or 0.97 percent to close at 3,627.24 points with 14.639 million shares.
BR Tech. & Comm. Index closed at 3,786.38 points, up 6.04 points or 0.16 percent with 73.239 million shares.
Copyright Business Recorder, 2021
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