KARACHI: Pakistan Stock Exchange on Tuesday witnessed positive trend due to fresh buying on available attractive low levels.
The benchmark KSE-100 index increased by 276.20 points or 0.68 percent and closed at 40,949.84 points.
Trading activities also improved as total daily volumes on ready counter increased to 96.490 million shares as compared to 92.717 million shares traded on Monday while total daily traded value on ready counter increased to Rs 4.605 billion against previous session’s Rs 4.461 billion.
BRIndex100 gained 27.34 points or 0.67 percent to close at 4,088.93 points with total daily turnover of 84.303 million shares.
BRIndex30 added 178.66 points or 1.25 percent to close at 14,513.17 points with total daily trading volumes of 56.895 million shares.
The foreign investors also remained net buyers of shares worth $471,053. Total market capitalization increased by Rs 11 billion to Rs 6.367 trillion. Out of total 300 active scrips, 150 closed in positive and 123 in negative while the value of 27 stocks remained unchanged.
TRG Pak was the volume leader with 12.961 million shares and increased by Rs 3.55 to close at Rs 116.14 followed by WorldCall Telecom that closed at Rs 1.17, up Re 0.01 with 12.183 million shares. Hascol Petroleum lost Re 0.04 to close at Rs 5.55 with 3.401 million shares.
Pak Services and Sapphire Fiber were the top gainers increasing by Rs 115.79 and Rs 69.22 respectively to close at Rs 1774.00 and Rs 992.22 while Reliance Cotton and Pak Tobacco were the top losers declining by Rs 46.58 and Rs 37.73 respectively to close at Rs 600.00 and Rs 741.00.
An analyst at Arif Habib Limited said the PSX witnessed a positive session. The benchmark KSE-100 index opened in green and kept hovering in positive zone throughout the trading session reaching an intraday high of plus 293.07 points, as investors adopted the strategy of value hunting on dips in anticipation of positive outcomes from the ongoing negotiations between the government’s finance team and the International Monetary Fund (IMF) Mission.
Likely approval of refinery policy 2023 in next CCoE meeting this week kept the refineries sector in the limelight while decent volumes were recorded across the board.
Sectors contributing to the performance include Technology & Communication (up 88.9 points), Miscellaneous (up 60.6 points), Cement (up 43.5 points), E&P (up 31.7 points) and Power Generation & Distribution (up 23.1 points).
BR Automobile Assembler Index closed at 7,307.80 points, up 1.17 points or 0.02 percent with total turnover of 2.504 million shares.
BR Cement Index increased by 46.98 points or 1.29 percent to close at 3,701.57 points with 5.784 million shares.
BR Commercial Banks Index lost 7.69 points or 0.1 percent to close at 8,070.65 points with 6.529 million shares.
BR Power Generation and Distribution Index inched up by 14.61 points or 0.22 percent to close at 6,643.16 points with 8.037 million shares.
BR Oil and Gas Index gained 22.6 points or 0.56 percent to close at 4,080.09 points with 12.911 million shares.
BR Tech & Comm Index surged by 91.35 points or 2.15 percent to close at 4,339.00 points with 30.998 million shares.
Mubashir Anis Naviwala at JS Global Capital said the KSE-100 index posted a gain of 276 points to close at 40,950. Volumes remained dull throughout the day.
Traded volume stood at 96 million shares where TRG (up 3.2 percent), WTL (up 0.9 percent), HASCOL (down 0.7 percent), OGDC (up 1.7 percent) and ILP (up 2.0 percent) were the volume leaders.
Copyright Business Recorder, 2023
Comments
Comments are closed.