KARACHI: Pakistan Stock Exchange Tuesday witnessed a mixed trend and after moving both ways, closed on a positive note on the back of fresh buying in certain sectors at the fag end.
The market opened in negative zone due to investor concerns over prevailing political situation in the country, however witnessed recovery and closed in green territory.
The benchmark KSE-100 Index hit 40,460.89 points intraday high and 39,756.08 points intraday low before closing at 40,191.61 points with a net gain of 115.65 points or 0.29 percent.
Trading activity also improved as total volumes on ready counter increased to 217.504 million shares as compared to 110.422 million shares traded on Monday while total daily traded value on ready counter increased to Rs 6.326 billion against previous session’s Rs 3.718 billion.
BRIndex100 gained 18.28 points or 0.46 percent to close at 3,972.94 points with total daily turnover of 198.303 million shares.
BRIndex30 increased by 208.19 points or 1.44 percent to close at 14,694.13 points with total daily trading volumes of 162.476 million shares.
Foreign investors however remained net sellers of shares worth $137,568. Total market capitalization increased by Rs 13 billion to Rs 6.796 trillion. Out of total 327 active scrips, 191 closed in positive and 105 in negative while the value of 31 stocks remained unchanged.
TPL Properties was the volume leader with 35.087 million shares and increased by Rs 1.16 to close at Rs 18.98 followed by Agritech Limited that gained Rs 0.52 to close at Rs 8.13 with 22.626 million shares. Pak Refinery closed at Rs 16.07, up Rs 0.77 with 13.181 million shares.
Allawasaya Textile and Colgate Palmolive were the top gainers increasing by Rs 235.17 and Rs 161.20 respectively to close at Rs 3,373.49 and Rs 2,310.66 while Nestle Pakistan and Sapphire Textile were the top losers declining by Rs 295.50 and Rs 80.00 respectively to close at Rs 5,994.50 and Rs 993.00.An analyst at Topline Securities said that Pakistan equities closed on a slight positive note where benchmark KSE-100 Index settled at 40,192 level, up 0.29 percent.
The market opened on a negative note over ECP verdict on PTI funding which led the market to make an intraday low of minus 313 points however, the market recovered from its intraday low after verdict and made an intraday high of plus 382 points.
The investor interest mostly witnessed in fertilizer sector where EFERT, ENGRO and FFC closed higher, further the ministry of industries has called a meeting of fertilizers manufacturing companies due tomorrow to decide on a unified price of feed gas to streamline fertilizers production.
BR Automobile Assembler Index gained 47.49 points or 0.53 percent to close at 9,018.14 points with total turnover of 635,052 shares.
BR Cement Index increased by 45.6 points or 1.23 percent to close at 3,751.79 points with 8.029 million shares.
BR Commercial Banks Index decreased by 48.47 points or 0.58 percent to close at 8,314.26 points with 9.680 million shares.
BR Power Generation and Distribution Index lost 6.86 points or 0.13 percent to close at 5,335.62 points with 6.695 million shares.
BR Oil and Gas Index inched up by 1.45 points or 0.04 percent to close at 3,773.20 points with 5.742 million shares.
BR Tech. & Comm. Index closed at 3,567.44 points, up 11.78 points or 0.33 percent with 27.692 million shares.
An analyst at Arif Habib Limited said that the PSX observed a positive session as Pak rupee continued to show resistance against the USD as further appreciation was witnessed.
The market opened in the negative zone but investors opted for value buying during the day resulting index to close in green. Main board activity remained decent although healthy volumes were observed in the 3rd tier stocks.
Sectors contributing to the performance include Fertilizer (up 73.6 points), Chemicals (up 46.8 points), Cement (up 35.6 points), Refinery (up 10.5 points) and Automobile Assembler (up 9.1 points).
Copyright Business Recorder, 2022
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