KARACHI: Pakistan Stock Exchange Tuesday witnessed a positive trend and closed in green zone on the back of healthy buying by local and foreign investors.
The benchmark KSE-100 Index once again crossed 46,000 crucial level to hit 46,037.85 points intraday high during the session, however failed to sustain due to profit-taking in some stocks that pushed the index to 45,728.88 points intraday low level.
The benchmark KSE-100 Index closed at 45,947.95 points with a net gain of 106.70 points or 0.23 percent. Trading activity also improved as daily volumes on the ready counter increased to 187.377 million shares as compared to 150.102 million shares traded Monday while total daily traded value on the ready counter increased to Rs 7.097 billion against Monday’s Rs 6.251 billion.
BRIndex100 gained 5.51 points or 0.12 percent to close at 4,708.93 points with a turnover of 166.514 million shares.
BRIndex30 increased by 123.5 points or 0.69 percent to close at 18,148.12 points with total daily trading volumes of 101.575 million shares.
Foreign investors also remained net buyers of shares worth $899,153. Total market capitalization increased by Rs 10 billion to Rs 7.843 trillion. Out of total 364 active scrips, 184 closed in negative and 153 in positive while the value of 27 stocks remained unchanged.
Hum Network was the volume leader with 23.138 million shares and gained Rs 0.27 to close at Rs 7.77 followed by Engro Polymer that increased by Rs 3.70 to close at Rs 61.21 with 13.700 million shares. Premier Sugar and Sapphire Fiber were the top gainers increasing by Rs 39.50 and Rs 34.86 respectively to close at Rs 577.00 and Rs 955.00 while Otsuka Pak and Wah-Noble were the top losers declining by Rs 18.88 and Rs 14.75 respectively to close at Rs 241.12 and Rs 215.25.
An analyst at Arif Habib Limited said that the market remained volatile due to mounting international oil prices. Cement sector stayed under pressure due to higher international coal prices. In the chemical sector, EPCL made the journey to the north as it announced tremendous financial result beating market expectations.
Physiological level of 46,000 was unable to digest by the investors as profit taking was witnessed across the board. Main board activity remained gloomy. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
Sectors contributing to the performance include Fertilizer (up 80.9 points), Chemicals (up 32.9 points), Inv. Banks (up 28.7 points), Textile Composite (up 23.8 points) and Power (up 16.7 points).
BR Automobile Assembler Index gained 27.48 points or 0.31 percent to close at 8,767.57 points with total turnover of 662,216 shares.
BR Cement Index lost 13.48 points or 0.24 percent to close at 5,696.84 points with 6.749 million shares.
BR Commercial Banks Index decreased by 53.69 points or 0.52 percent to close at 10,216.94 points with 8.591 million shares.
BR Power Generation and Distribution Index increased by 84.85 points or 1.4 percent to close at 6,140.33 points with 16.897 million shares.
BR Oil and Gas Index fell by 16.08 points or 0.4 percent to close at 4,017.29 points with 7.245 million shares.
BR Tech. & Comm. Index closed at 3,767.35 points, up 4.03 points 0.11 percent with 56.905 million shares.
Waqar Iqbal at JS Global Capital said trading activity was dull as market hunted for a fresh trigger to move from current levels. KSE100 index closed at 45,948, gaining 107 points. Major volume leaders were HUMNL, EPCL, WTL, KEL and PAEL.
Copyright Business Recorder, 2022
Comments
Comments are closed.