KARACHI: Pakistan Stock Exchange on Wednesday witnessed a bullish trend and closed on positive note on the back of fresh buying at attractive low levels.
The benchmark KSE-100 Index once again crossed 44,000 psychological level to close at 44,111.10 points with a net gain of 183.02 points or 0.42 percent. During the session, the KSE-100 Index hit 44,377.60 points intraday high but failed to sustain this level and closed slightly lower due to profit taking in some sectors.
Trading activity however remained low as total daily volumes on ready counter decreased to 108.410 million shares as compared to 115.644 million shares traded Tuesday while total traded value on ready counter declined to Rs 4.270 billion against previous day’s Rs 4.584 billion.
BRIndex100 gained 21.22 points or 0.48 percent to close at 4,405.62 points with total daily turnover of 98.582 million shares.
BRIndex30 inched up by 131.13 points or 0.84 percent to close at 15,732.11 with total daily trading volumes of 65.575 million shares.
Foreign investors however remained net sellers of shares worth $520,341. Total market capitalization increased by Rs 2 billion to Rs 7.420 trillion. Out of total 324 active scrips, 190 closed in positive and 104 in negative while the value of 30 stocks remained unchanged.
Treet Corp was the volume leader with 13.434 million shares and gained Rs 0.94 to close at Rs 32.71 followed by Telecard Limited that closed at Rs 14.55, up Rs 0.34 with 11.966 million shares. Engro Polymer increased by Rs 2.51 to close at Rs 75.15 with 5.562 million shares.
Unilever Foods and Sapphire Fiber were the top gainers increasing by Rs 745.00 and Rs 57.60 respectively to close at Rs 24,500.00 and Rs 825.60 while Rafhan Maize and Nestle Pakistan were the top losers declining by Rs 600.00 and Rs 392.03 respectively to close at Rs 11,400.00 and Rs 5,500.00.
An analyst at Arif Habib Limited said that a positive day was observed at PSX, KSE-100 Index remained in green zone throughout the day, activity remained sideways due to political unrest and devaluation of PKR against US Dollar. Value buying was observed in fertilizer sector. In the last trading hour, across the board profit taking was witnessed.
Sectors contributing to the performance include Fertilizer (up 64.4 points), Banks (up 36.0 points), Technology and Communications (up 30.8 points), Power (up 28.7 points) and Investment Banks (up 25.3 points).
BR Automobile Assembler Index gained 13.59 points or 0.15 percent to close at 9,343.81 points with total turnover of 483,123 shares.
BR Cement Index inched up by 1.8 points or 0.04 percent to close at 5,113.41 points with 7.867 million shares.
BR Commercial Banks Index added 39.32 points or 0.4 percent to close at 9,804.37 points with 3.961 million shares.
BR Power Generation and Distribution Index increased by 75.2 points or 1.31 percent to close at 5,797.25 points with 7.908 million shares.
BR Oil and Gas Index lost 1.11 points or 0.03 percent to close at 3,670.13 points with 4.909 million shares.
BR Tech. & Comm. Index closed at 3,545.51 points, up 43.02 points or 1.23 percent with 25.037 million shares.
An analyst at Topline Securities said that Pakistan equities closed green where benchmark KSE-100 Index settled at 44,111 level, up 0.42 percent.
Despite political uncertainty and unstable economic conditions market open on a positive note where market made an intraday high of 449 points. Major positive contributors in the trading session were ENGRO, HUBC, DAWH, SYS and EPCL cumulatively added 144 points in KSE100 Index.
Copyright Business Recorder, 2022
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