KARACHI: Pakistan Stock Exchange (PSX) closed positive on the second consecutive day on the optimism of the IMF program resumption.
Overall, the market remained rangebound with intraday high of 169 points and intraday low of 229 points and finally, the benchmark KSE-100 Index closed at 41,452.69 points on Tuesday, slightly increasing by 15.59 points.
The daily volumes on ready counter also rose to 234.74 million shares on Tuesday as compared to 226.82 million shares traded on Monday. While total daily traded value on ready counter surged to Rs 7.4 billion as against previous session’s Rs 7 billion.
On Tuesday, BRIndex100 lost 0.77 points or 0.02 percent to close at 4,103.40 points down from 4,104.17 points. It touched an intraday high of 4,126.44 points and an intraday low of 4,078.84 points with total volume of 186.882 million share.
BRIndex30 opened at 14,117.29. It touched an intraday high of 14,205.52 and an intraday Low of 14,001.03 and closed at 14,135.32 which was 18.03 points or 0.13 percent higher than previous close with total volume of 130 million shares
Analyst said that stock closed higher as investor eye IMF deal after govt-IMF agreement over revised federal budget and SBP emergent meeting raised SBP key policy rate to 22pc to appease IMF.
They said that surge in Pakistan dollar bonds, rupee recovery and expectations over IMF board approval of 9th review by receiving Memorandum for Economic and Financial Policy and staff level agreement played a catalyst role in bullish close.
The market capitalization increased by Rs 33 billion to Rs 6.369 trillion up from Rs 6.336 trillion. Out of 308 active scripts, 137 closed in positive, 156 in negative while the value of 15 stocks remained unchanged.
BankIslami was the volume leader with 17.42 million shares and closed at Rs17.76, followed by WorldCall Telecom that closed at Rs1.09 with 11.67 million shares and Oil and Gas Dev. ranked third with 11 million shares and closed at Rs 78.00.
Rafhan Maize and Mehmood Tex were the top gainers increasing by Rs 50 and Rs 36.25 respectively to close at Rs 8,400 and Rs 650, while Bhanero Tex and Mari Petroleum were the top losers declining by Rs 51.67 and Rs 20.41 respectively to close at Rs 948.33 and Rs 1,514.67.
Major positive contribution to the index came from HBL, BAHL, PSO, OGDC & BAFL, as they cumulatively contributed 131 points to the index, on the other hand ENGRO, POL, SYS, EFERT & FFC lost value to weigh down on the index by -121 points.
BIIPL was today`s volume leader as the banking company informed that JS Bank through its agent has submitted Public Announcement of Offer to acquire 275,891,286 shares (24.88% of paid up capital) of BIPL.
BR Automobile Assembler Index increased by 12.28 points to close at 8,038.76 points with a total turnover of 4.095 million share trading.BR Cement Index lost 45.05 points to close at 4,587.82 points with a total turnover of 13.124 points.
BR Commercial Banks Index Closed at 8,562.40 with a net positive change of 125.2 points or a percentage change of 1.48 and a total turnover of 48,008,852.BR Power Generation and Distribution Index closed at 7,450.48 with a net positive change of 82.83 points or a percentage change of 1.12 and a total turnover of 19,037,806.
BR Oil and Gas Index closed at 3,802.81 points, down by 11.19 points with a total turnover of 37.123 million shares. BR Tech. & Comm. Index decreased by 25.87 points to close at 3,603.20 pints with a total turnover of 23.283 million.
Copyright Business Recorder, 2023
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