KARACHI: Pakistan Stock Exchange Friday witnessed a mixed trend and after moving both ways, closed on a positive note following fresh buying in certain sectors in the second half of the trading session.
The benchmark KSE-100 Index hit 41,628.79 points intraday high and 41,354.33 points intraday low before closing at 41,599.19 points, up 157.11 points or 0.38 percent.
Trading activity also improved as daily volumes on ready counter increased to 120.373 million shares as compared to 101.318 million shares traded Thursday. The daily traded value on ready counter increased to Rs 3.277 billion against previous session’s Rs 3.000 billion.
BRIndex100 inched up by 7.91 points or 0.19 percent to close at 4,181.42 points with total daily turnover of 104.161 million shares.
BRIndex30 gained 55.09 points or 0.38 percent to close at 14,391.70 points with total daily trading volumes of 66.112 million shares.
Foreign investors also remained net buyers of shares worth $109,590. The market capitalization increased by Rs 46 billion to Rs 6.263 trillion. Out of total 315 active scrips, 172 closed in positive and 115 in negative while the value of 28 stocks remained unchanged.
WorldCall Telecom was the volume leader with 19.984 million shares and gained Rs 0.02 to close at Rs 1.14 followed by Air Link Commun that increased by Rs 1.53 to close at Rs 21.97 with 6.096 million shares. The Searle Co lost Rs 0.43 to close at Rs 49.71 with 4.864 million shares.
Unilever Foods and Nestle Pakistan were the top gainers increasing by Rs 1000.00 and Rs 166.25 respectively to close at Rs 21800.00 and Rs 6416.25 while Rafhan Maize and Khyber Textile were the top losers declining by Rs 349.99 and Rs 57.75 respectively to close at Rs 8000.00 and Rs 712.25.
“The week closed off in green at the PSX”, an analyst at Arif Habib Limited said. The opening session was a volatile one as investors remained cautious owing to the political uncertainty in the country mostly trading in the red. However, in the second session the bulls mustered up some courage and took fresh positions to add value to their portfolios particularly in the pharmaceutical sector as the KSE-100 index ended the trading session in green with decent volumes across the board.
Sectors contributing to the performance include E&P (up 57.9 points), Miscellaneous (up 22.8 points), Cement (up 18.8 points), Food & Personal Care Products (up 16.5 points) and Pharmaceuticals (up 15.8 points).
BR Automobile Assembler Index increased by 54.45 points or 0.73 percent to close at 7,552.16 points with total turnover of 518,369 shares.
BR Cement Index inched up by 25.39 points or 0.6 percent to close at 4,286.98 points with 7.334 million shares.
BR Commercial Banks Index lost 5.51 points or 0.06 percent to close at 8,744.03 points with 9.338 million shares.
BR Power Generation and Distribution Index fell by 11.97 points or 0.16 percent to close at 7,402.49 points with 7.512 million shares.
BR Oil and Gas Index added 36.43 points or 0.96 percent to close at 3,821.88 points with 11.812 million shares.
BR Tech. & Comm. Index closed at 3,755.84 points, down 2.76 points or 0.07 percent with 33.500 million shares.
An analyst at Topline Securities said that rangebound session was observed at the exchange as the index traded between its intraday high of plus 187 points and intraday low of minus 88 points to close at 41,599 level, up 0.38 percent.
Major positive contribution to the index came from PPL, PSEL, POL, ENGRO and THALL as they cumulatively contributed 93 points to the KSE-100 index. On the flip side UBL, HUBC, BAHL, SYS and RMPL lost value to weigh down on the index by minus 55 points.
Copyright Business Recorder, 2023
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