KARACHI: Pakistan Stock Exchange Thursday closed on strong positive note on the last day of the financial year 2021-22 as PKR continued to extend gains against USD and cut-off yields on 3M and 6M T-bills fell by two basis points and 15 basis points, respectively compared to the previous auction, the market participants said.
The market stayed mostly in the green territory as investors opted for value hunting due to clarity in the finance bill amendment approved by the National Assembly, they added.
The benchmark KSE-100 Index increased by 243.10 points or 0.59 percent and closed at 41,540.83 points. The index hit 41,559.06 points intraday high and 41,220.01 points intraday low level.
Trading activity also improved as total daily volumes increased to 192.897 million shares as compared to 142.192 million shares traded on Wednesday while total daily traded value increased to Rs 6.786 billion against previous day’s Rs 5.347 billion.
BRIndex100 gained 26.87 points or 0.66 percent to close at 4,108.62 points with total daily turnover of 175.336 million shares.
BRIndex30 closed at 15,085.46 points, down 16.46 points or 0.11 percent with total daily trading volumes of 87.584 million shares.
Foreign investors also remained net buyers of shares worth $361,490. Total market capitalization increased by Rs 34 billion to Rs 6.956 trillion. Out of total 337 active scrips, 168 closed in positive and 140 in negative while the value of 29 stocks remained unchanged. K-Electric was the volume leader with 17.495 million shares however lost Rs 0.05 to close at Rs 3.04 followed by Agritech Limited that increased by Rs 1.00 to close at Rs 6.65 with 13.786 million shares.
Fauji Cement closed at Rs 14.17, down Rs 0.26 with 13.104 million shares. Allawasaya Textile and Sapphire Fiber were the top gainers increasing by Rs 99.00 and Rs 75.00 respectively to close at Rs 1419.00 and Rs 1075.00 while Hinopak Motor and ICI Pakistan were the top losers declining by Rs 11.77 and Rs 11.07, respectively to close at Rs 307.20 and Rs 724.55.
An analyst at Arif Habib Limited said that the PSX witnessed a positive session as PKR continued to extend gains against USD and cut-off yields on 3M and 6M T-bills fell by two basis points and 15 basis points respectively compared to the previous auction.
The benchmark KSE-100 index stayed mostly in the green territory as investors opted for value hunting due to clarity in the finance bill amendment approved by the National Assembly. Volumes continued to remain dull and on the contrary 3rd tier stocks remained in the limelight.
Sectors contributing to the performance include Banks (up 111.5 points), E&P (up 58.8 points), Power (up 26.9 points), Technology (up 24.9 points) and Cement (up 23.2 points).
BR Automobile Assembler Index lost 28.59 points or 0.29 percent to close at 9,936.93 points with total turnover of 1.731 million shares.
BR Cement Index gained 25.48 points or 0.62 percent to close at 4,104.78 points with 28.721 million shares.
BR Commercial Banks Index surged by 105.95 points or 1.26 percent to close at 8,514.54 points with 17.481 million shares.
BR Power Generation and Distribution Index increased by 65.53 points or 1.19 percent to close at 5,565.76 points with 23.216 million shares.
BR Oil and Gas Index added 33.98 points or 0.91 percent to close at 3,780.55 points with 16.288 million shares.
BR Tech. & Comm. Index inched up by 21.63 points or 0.66 percent to close at 3,313.92 points with 19.926 million shares.
An analyst at Topline Securities said that lackluster activity was observed on last trading session of the month as the index traded sideways with low volumes for most part of the day, however some buying was observed at closing as investors came in to accumulate at attractive valuation.
Major contribution to the index came from HUBC, ENGRO, UBL, BAHL and SYS, as they cumulatively contributed 121 points to the index.
Copyright Business Recorder, 2022
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