KARACHI: Pakistan Stock Exchange Friday witnessed a bullish trend due to appreciating PKR against the USD and improving political situation in the country.
The market opened on a strong positive and remained in green zone throughout the day due to healthy buying by local and foreign investors.
The benchmark KSE-100 Index hit 46,785.34 points intraday high level before closing at 46,601.54 points with a net gain of 117.11 points or 0.25 percent. Daily trading volumes on ready counter stood at 365.789 million shares as compared to 494.943 million shares traded Thursday while total daily traded value declined to Rs 9.130 billion against previous day’s Rs 11.680 billion.
BRIndex100 closed at 4,710.75 point, up 0.96 points or 0.02 percent with total daily turnover of 341.904 million shares.
BRIndex30 however closed in negative zone at 17,906.75 points, down 135.37 points or 0.75 percent with total daily trading volumes of 272.942 million shares.
Foreign investors also remained net buyers of shares worth $420,367. Total market capitalization increased by Rs 20 billion to Rs 7.757 trillion. Out of total 335 active scrips, 161 closed in positive and 155 in negative while the value of 19 stocks remained unchanged.
Cnergyico PK was the volume leader with 71.320 million shares however lost Rs 0.03 to close at Rs 6.72 followed by WorldCall Telecom that closed at Rs 1.92, down Rs 0.01 with 31.658 million shares. Ghani Global Holding gained Rs 0.38 to close at Rs 21.79 with 24.974 million shares.
Sapphire Textile and Sapphire Fiber were the top gainers increasing by Rs 71.17 and Rs 65.78 respectively to close at Rs 1073.67 and Rs 959.78 while Blessed Textile and Otsuka Pak were the top losers declining by Rs 15.00 and Rs 13.25 respectively to close at Rs 500.00 and Rs 238.75.
An analyst at Arif Habib Limited said that the market stayed in the green zone throughout the day. KSE-100 index opened in the positive zone. SPI for the week ended April 14, 2022 recorded a decrease of 0.68 percent on week on week basis while up by 16.44 percent on year-on-year basis. Moreover, LSMI output increased by 7.8 percent on year-on-year basis during the first eight months of FY22. Main board activity remained dull but hefty volumes were recorded in the 3rd tier stocks. In the last trading hour, profit taking was witnessed specially in the refinery sector.
Sectors contributing to the performance include Fertilizer (up 45.7 points), Banks (up 37.9 points), E&P’s (up 22.3 points), Inv. Banks (up 14.7 points) and Refinery (up 11.6 points).
BR Automobile Assembler Index decreased by 21.37 points or 0.22 percent to close at 9,791.75 points with 2.022 million shares.
BR Cement Index lost 9.94 points or 0.18 percent to close at 5,429.77 points with 29.104 million shares.
BR Commercial Banks Index gained 30.27 points or 0.29 percent to close at 10,385.26 points with 7.576 million shares.
BR Power Generation and Distribution Index fell by 27.09 points or 0.45 percent to close at 5,960.63 points with 7.170 million shares.
BR Oil and Gas Index inched up by 20.2 points or 0.53 percent to close at 3,821.75 points with 11.399 million shares.
BR Tech. & Comm. Index closed at 3,920.56 points, down 33.5 points or 0.85 percent with 63.838 million shares.
An analyst at Topline Securities said that positive session was observed at the exchange as the index increased by 0.25 percent to close at 46,602 level. Major contribution to the index came from MEBL, ENGRO, FFC, HMB and DAWH, as they cumulatively contributed 112 points to the index.
Copyright Business Recorder, 2022
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