KARACHI: Pakistan Stock Exchange Wednesday witnessed a positive trend as the market remained in green territory for most part of the session. Investor remained hopeful for positive outcomes of the Prime Minister’s visit to China.
The benchmark KSE-100 Index increased by 135.90 points or 0.33 percent and closed at 41,944.59 points. The index crossed 42,000 psychological level to hit 42,005.13 points intraday high and 41,726.25 points intraday low.
Trading activity also improved as total daily volumes on ready counter increased to 230.561 million shares as compared to 192.142 million shares traded on Tuesday however total daily traded value on ready counter declined to Rs 6.249 billion against previous session’s Rs 6.311 billion.
BRIndex100 gained 10.11 points or 0.24 percent to close at 4,176.43 points with total daily turnover of 155.449 million shares.
BRIndex30 closed at 15,363.87 points, down 41.96 points or 0.27 percent with total daily trading volumes of 104.025 million shares. Foreign investors also remained net buyers of shares worth $59,353. Total market capitalization increased by Rs 18 billion to Rs 6.753 trillion. Out of total 353 active scrips, 166 closed in negative and 156 in positive while the value of 31 stocks remained unchanged.
Hascol Petroleum was the volume leader with 55.741 million shares and gained Rs 0.82 to close at Rs 7.34 followed by WorldCall Telecom that lost Rs 0.02 to close at Rs 1.46 with 23.567 million shares. Cnergyico PK inched up by Rs 0.13 to close at Rs 4.88 with 16.087 million shares.
Siemens Pak and Goodluck Industries were the top gainers increasing by Rs 63.09 and Rs 48.15 respectively to close at Rs 904.42 and Rs 690.15 while Allawasaya Textile and Sanofi-Aventis were the top losers declining by Rs 269.36 and Rs 43.45 respectively to close at Rs 3,322.19 points and Rs 982.05.
“Another positive session was witnessed at the PSX as the benchmark KSE-100 index traded in the green for majority of the session, maintaining the momentum from the previous session, as investor remained hopeful for positive outcomes from the Prime Minister’s visit to China,” an analyst at Arif Habib Limited said. Volumes improved significantly in the main board yet 3rd tier stocks remained in the limelight.
Sectors contributing to the performance include E&P (up 60.3 points), Power Generation and Distribution (up 48.2 points), Oil and Gas Marketing Companies (up 39.6 points), Fertilizer (up 19.5 points) and Automobile Assembler (up 9.5 points).
BR Automobile Assembler Index gained 51.18 points or 0.58 percent to close at 8,839.60 points with total turnover of 3.219 million shares.
BR Cement Index Closed at 4,507.35 points, down 1.0 point or 0.02 percent with 8.454 million shares.
BR Commercial Banks Index lost 14.86 points or 0.18 percent to close at 8,204.20 points with 11.509 million shares.
BR Power Generation and Distribution Index surged by 128.82 points or 1.94 percent to close at 6,759.90 points with 8.165 million shares.
BR Oil and Gas Index increased by 66.86 points or 1.81 percent to close at 3,765.23 points with 72.928 million shares.
BR Tech. & Comm. Index decreased by 32.7 points or 0.75 percent to close at 4,323.55 points with 43.161 million shares. An analyst at Topline Securities said that range bound activity witnessed at the bourse where market make an intraday high of 196 points and a low of 81 points as investors remained uncertain over ongoing political and economic conditions. Major gainer’s in the trading session were HUBC, POL, PSO, PPL and SNGP cumulatively added 128 points, while on the other hand TRG, HBL, UBL, DAWH and PSEL cumulatively dented the Index by 63 points.
Copyright Business Recorder, 2022
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