KARACHI: Pakistan Stock Exchange Thursday witnessed a bullish trend on the back of aggressive buying on available attractive, low levels.
The market opened in green territory and closed on strong positive note with healthy gains. The benchmark KSE-100 Index surged by 467.93 points or 1.19 and closed at its intraday high of 39,747.36 points.
Foreign investors however remained on the selling side and withdrew $6.935 million from the equity market. Daily trading volumes on ready counter stood at 227.788 million shares as compared to 258.454 million shares traded Wednesday. Daily traded value on ready counter stood at Rs 7.037 billion against Wednesday’s Rs 8.508 billion.
BRIndex100 added 52.04 points or 1.34 percent to close at 3,925.95 points with total daily turnover of 206.746 million shares.
BRIndex30 increased by 235.11 points or 1.72 percent to close at 13,885.48 points with total daily trading volumes of 97.108 million shares.
The market capitalization increased by Rs 76 billion to Rs 6.382 trillion. Out of total 325 active scrips, 214 closed in positive and only 93 in negative while the value of 18 stocks remained unchanged.
Bank Al-Falah was the volume leader with 52.190 million shares and gained Rs 0.28 to close at Rs 29.88 followed by K-Electric that inched up by Rs 0.12 to close at Rs 2.49 with 20.118 million shares. Cnergyico PK lost Rs 0.08 to close at Rs 3.63 with 13.116 million shares.
Rafhan Maize and Nestle Pakistan were the top gainers increasing by Rs 592.65 and Rs 366.24 respectively to close at Rs 8494.65 and Rs 5781.24 while Bhanero Textile and Premium Textile were the top losers declining by Rs 77.50 and Rs 44.20 respectively to close at Rs 960.00 and Rs 557.05.
An analyst at Arif Habib Limited said that a bullish session was witnessed at the PSX continuing the acclamatory momentum from the previous close.
The market opened in positive territory and made an intraday high of 441.56 points as investors elected for value angling in the main board. The benchmark KSE-100 Index traded in the green zone throughout the day investor participation remained on the higher side.
The market remained quite volatile during the last trading hour. However healthy volumes were recorded across the board, whereas 3rd tier stocks remained volume leaders.
Sectors contributing to the performance include Cement (up 93.4 points), Technology & Communication (up 89.4 points), Fertilizer (up 69.3 points), E&P (up 39.4 points), and Miscellaneous (up 36.8 points).
BR Automobile Assembler Index gained 91.68 points or 1.24 percent to close at 7,480.58 points with total turnover of 3.783 million shares.
BR Cement Index surged by 127.04 points or 3.37 percent to close at 3,896.32 points with 11.807 million shares.
BR Commercial Banks Index inched up by 5.67 points or 0.07 percent to close at 7,794.35 points with 68.995 million shares.
BR Power Generation and Distribution Index added 49.59 points or 0.78 percent to close at 6,384.52 points with 30.080 million shares.
BR Oil and Gas Index closed at 3,785.36 points, up 27.56 points or 0.73 percent with 15.506 million shares.
BR Tech. & Comm. Index increased by 98.24 points or 2.38 percent to close at 4,223.99 points with 16.817 million shares.
An analyst at Topline Securities said that Pakistan equities closed positive where the benchmark KSE-100 Index settled at 39,747 points, up 1.19 percent.
A rangebound activity was witnessed in the first half of the session however market made a high of plus 467 points in the second half where SYS, LUCK, ENGRO, EFERT and PSEL cumulatively added 238 points to KSE-100 Index.
Copyright Business Recorder, 2022
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