KARACHI: After negative opening, Pakistan Stock Exchange Tuesday closed on a positive note due to fresh buying, mainly in banking and oil stocks at the fag end.
The benchmark KSE-100 Index hit 40,135.44 points intraday high and 39,706.56 points intraday low level before closing at 39,894.05 points, up 50.03 points or 0.13 percent.
Trading activity also improved as total daily volumes on ready counter increased to 131.861 million shares as compared to 75.431 million shares traded Monday while total daily traded value on ready counter increased to Rs 4.205 billion against previous day’s Rs 1.832 billion.
BRIndex100 gained 8.97 points or 0.23 percent to close at 3,930.88 points with total daily turnover of 119.370 million shares.
BRIndex30 inched up by 61.38 points or 0.43 percent to close at 14,431.38 points with total daily trading volumes of 92.883 million shares.
Foreign investors however remained net sellers of shares worth $367,566. Total market capitalization increased by Rs 10 billion to Rs 6.743 trillion. Out of total 302 active scrips, 148 closed in positive and 130 in negative while the value of 24 stocks remained unchanged.
TPL Properties was the volume leader with 19.629 million shares and gained Rs 0.34 to close at Rs 17.32 followed by Cnergyico PK that lost Rs 0.10 to close at Rs 4.85 with 11.887 million shares. Lotte Chemical increased by Rs 1.21 to close at Rs 27.00 with 11.112 million shares.
Nestle Pakistan and Mehmood Textile were the top gainers increasing by Rs 96.13 and Rs 45.95 respectively to close at Rs 5,998.13 and Rs 658.71 while Indus Motor Co and Shield Corp were the top losers declining by Rs 38.54 and Rs 21.45 respectively to close at Rs 1,080.54 and Rs 267.00.
Ahsan Mehanti at Arif Habib Corporation said that stocks showed recovery led by selected oil and banking stocks on SBP assurance over IMF agreement and financing of friendly countries easing economic fears.
He said surging global crude oil prices and strong government response to political noise played a catalyst role in positive close.
BR Automobile Assembler Index decreased by 72.23 points or 0.77 percent to close at 9,248.51 points with total turnover of 377,149 shares.
BR Cement Index lost 4.68 points or 0.13 percent to close at 3,719.59 points with 5.059 million shares.
BR Commercial Banks Index gained 20.2 points or 0.25 percent to close at 8,182.20 points with 9.713 million shares.
BR Power Generation and Distribution Index fell by 28.33 points or 0.53 percent to close at 5,337.04 points with 5.872 million shares.
BR Oil and Gas Index inched up by 20 points or 0.54 percent to close at 3,753.12 points with 6.366 million shares.
BR Tech. & Comm. Index closed at 3,315.66 points, up 13.55 points or 0.41 percent with 19.996 million shares.
An analyst at Arif Habib Limited said that the market remained sideways throughout the day due to concerns over rising political and economic unrest. PSX opened in the negative zone as rupee continued to decline against US dollar. Volumes continued to remain dry in the main board although decent volumes were witnessed in the 3rd tier stocks.
Sectors contributing to the performance include Banks (up 23.6 points), E&P (up 18.7 points), OMCs (up 16.9 points), Technology (up 15.1 points) and Textile (up 14.8 points).
Copyright Business Recorder, 2022
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