KARACHI: Pakistan Stock Exchange Thursday witnessed another bullish session on aggressive buying in various sectors due to strengthening of PKR against the USD.
Although the market witnessed selling pressure during mid-session as investors opted to book profits, however the market managed to close in green zone with healthy gains.
The benchmark KSE-100 Index hit 46,510.11 points intraday high and 46,053.66 points intraday low before closing at 46,484.43 points with a net gain of 318.93 points or 0.69 percent.
Trading activity also improved as total daily volumes on ready counter increased to 494.943 million shares as compared to 474.588 million shares traded on Wednesday however total daily traded value on ready counter declined to Rs 11.680 billion against previous day’s Rs 12.353 billion.
BRIndex100 gained 39.22 points or 0.84 percent to close at 4,709.79 points with total daily turnover of 473.218 million shares.
BRIndex30 surged by 405.07 points or 2.3 percent to close at 18,042.12 points with total daily trading volumes of 372.247 million shares.
Foreign investors however remained net sellers of shares worth $640,248. Total market capitalization increased by Rs 43 to Rs 7.737 trillion. Out of total 343 active scrips, 206 closed in positive and 118 in negative while the value of 19 stocks remained unchanged.
Cnergyico PK was the volume leader with 99.122 million shares and gained Rs 0.94 to close at Rs 6.75 followed by WorldCall Telecom that closed at Rs 1.93, down Rs 0.05 with 36.948 million shares. Flying Cement inched up by Rs 0.23 to close at Rs 9.90 with 33.865 million shares. Nestle Pakistan and Al-Ghazi Tractors were the top gainers increasing by Rs 104.99 and Rs 31.63 respectively to close at Rs 5,549.99 and Rs 453.38 while Bata Pak and Colgate Palmolive were the top losers declining by Rs 179.99 and Rs 97.77 respectively to close at Rs 2,220.01 and Rs 2,222.23.
An analyst at Arif Habib Limited said that positive session was observed at PSX due to stability in Pak rupee against dollar. Rally was witnessed in refinery sector due to expectation of tremendous earnings in the upcoming financial result.
Main board activity remained dull whereas hefty buying was witnessed in the 3rd tier stocks. Across the board buying was observed in the last trading hour which led the market to close in the green zone.
Sectors contributing to the performance include Fertilizer (up 76.2 points), Cement (up 58.8 points), Chemicals (up 37.9 points), Refinery (up 23.3 points) and Inv. Banks (up 18.0 points).
BR Automobile Assembler Index increased by 75.47 points or 0.78 percent to close at 9,813.12 points with total turnover of 2.892 million shares.
BR Cement Index surged by 81.05 points or 1.51 percent to close at 5,439.71 points with 70.580 million shares.
BR Commercial Banks Index lost 12.7 points or 0.12 percent to close at 10,354.99 points with 7.760 million shares.
BR Power Generation and Distribution Index gained 21.6 points or 0.36 percent to close at 5,987.72 points with 6.684 million shares.
BR Oil and Gas Index closed at 3,801.55 points, down 3.59 points or 0.09 percent with 8.327 million shares.
BR Tech. & Comm. Index inched up by 12.25 points or 0.31 percent to close at 3,954.06 points with 104.742 million shares.
An analyst at Topline Securities said that Pakistan equities closed on a green note where benchmark KSE-100 Index settled at 46,484, up 0.69 percent. During the day, Range-bound activity was witnessed in the first half, however the market pick up momentum where KSE-100 Index made an intraday high of 344 points.
Investors interest mostly witnessed in Fertilizers, Refinery and Cement sector where ENGRO, ATRL, MLCF closed higher. EPCL closed at its upper limit as investor expecting hefty earning and payout in upcoming result due on 18th April, 2022.
Copyright Business Recorder, 2022
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