KARACHI: Pakistan Stock Exchange on Monday witnessed a bullish trend on aggressive buying mainly in OMCs and E&P sector stocks.
The benchmark KSE-100 index increased by 314.95 points or 0.76 percent and closed at 41,667.94 points. During the session, the index hit 41,681.68 points intra-day high and 41,375.58 points intra-day low level.
Trading activities also improved as total daily volumes on ready counter increased to 145.177 million shares as compared to 99.545 million shares traded on last Friday while total daily traded value on ready counter increased to Rs 4.682 billion against previous session’s Rs 3.336 billion.
BRIndex100 added 35.68 points or 0.86 percent to close at 4,167.87 points with total daily turnover of 126.030 million shares.
BRIndex30 surged by 332.15 points or 2.36 percent to close at 14,396.76 points with total daily trading volumes of 95.409 million shares.
The foreign investors also remained net buyers of shares worth $385,412. Total market capitalization increased by Rs 54 billion to Rs 6.330 trillion. Out of total 321 active scrips, 183 closed in positive and 107 in negative while the value of 31 stocks remained unchanged.
WorldCall Telecom was the volume leader with 16.777 million shares and closed at Rs 1.16, down Re 0.01 followed by SNGP that increased by Rs 2.69 to close at Rs 43.38 with 9.750 million shares. PPL surged by Rs 3.51 to close at Rs 61.57 with 9.434 million shares.
Mari Petroleum and Colgate Palmolive were the top gainers increasing by Rs 31.25 and Rs 28.87 respectively to close at Rs 1554.17 and Rs 1528.87 while Bata Pak and Nestle Pakistan were the top losers declining by Rs 63.50 and Rs 50.02 respectively to close at Rs 1630.50 and Rs 6489.98.
An analyst at Arif Habib Limited said that a positive session was recorded at the PSX to mark the start of the week. The benchmark KSE-100 index opened with optimistic sentiments after whispers about the positive advancements on the budgetary reforms for the financial year. Investor participation remained active across the board while the OMCs and E&Ps sectors remained in the limelight.
Sectors contributing to the performance include E&P (up 175.0 points), OMCs (up 77.5 points), Power Generation & Distribution (up 30.2 points), Technology & Communication (up 19.0 points) and Chemical (up 17.4 points).
BR Automobile Assembler Index lost 9.23 points or 0.12 percent to close at 7,422.14 points with total turnover of 1.884 million shares.
BR Cement Index fell by 7.79 points or 0.17 percent to close at 4,586.35 points with 9.970 million shares.
BR Commercial Banks Index inched down by 2.06 points or 0.02 percent to close at 8,555.47 points with 12.316 million shares.
BR Power Generation and Distribution Index increased by 96.47 points or 1.32 percent to close at 7,382.51 points with 6.463 million shares.
BR Oil and Gas Index surged by 149.25 points or 4.0 percent to close at 3,881.21 points with 40.305 million shares.
BR Tech & Comm Index gained 23.81 points or 0.65 percent to close at 3,676.09 points with 25.474 million shares.
An analyst at Topline Securities said that Pakistan equities had a bullish day in anticipation of further increase in international oil prices and increase in gas tariff by OGRA. The aforesaid expectation assisted market to stay in the green zone through the day and settled at 41,668, up 315 points or 0.76 percent for the day.
Buying momentum was observed across the board as investors opted to make some trading positions in technology, fertilizer and E&P sector’s stocks.
During the trading hours SNGP, PPL, OGDC, PRL and PSO contributed positively to the index. On the other hand, some profit taking was observed in LUCK, UBL and ENGRO.
Copyright Business Recorder, 2023
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