KARACHI: Pakistan Stock Exchange Wednesday witnessed a mixed trend and after moving both ways, closed on slightly positive note due to fresh buying in some stocks at the fag end.
The benchmark KSE-100 Index hit 45,227.49 points intraday high and 44,928.03 points intraday low before closing at 45,095.11 points, up 85.77 points or 0.19 percent.
The daily trading volumes on the ready counter decreased to 245.453 million shares as compared to 254.960 million shares traded Tuesday. The daily traded value on ready counter increased to Rs 9.402 billion against previous session’s Rs 7.322 billion.
BRIndex100 gained 22.66 points or 0.5 percent to close at 4,536.35 points with total daily turnover of 216.420 million shares.
BRIndex30 closed at 15,716.24 points, down 20.08 points or 0.13 percent with total daily trading volumes of 136.878 million shares.
Foreign investors also remained net buyers of shares worth $1.086 million. The market capitalization declined by Rs 22 billion to Rs 6.877 trillion. Out of total 325 active scrips, 202 closed in negative and only 97 in positive while the value of 26 stocks remained unchanged.
WorldCall Telecom was the volume leader with 18.495 million shares and closed at Rs 1.31, down Rs 0.01 followed by TPL Properties that lost Rs 0.63 to close at Rs 13.22 with 10.309 million shares. PPL increased by Rs 1.60 to close at Rs 68.66 with 8.961 million shares.
Nestle Pakistan and Khyber Textile were the top gainers increasing by Rs 100.00 and Rs 57.00 respectively to close at Rs 6800.00 and Rs 901.00 while Colgate Palmolive and Unilever Foods were the top losers declining by Rs 121.49 and Rs 50.00 respectively to close at Rs 1498.43 and Rs 22450.00.
Muhammad Shuja Qureshi at JS Global Capital said that the KSE-100 Index closed with a gain of 86 points at 45,095. UBL led the rally in the banking sector as it announced a cash dividend or Rs 11 per share.
Apart from the banking sector, other notable gainers were SHEL, DOL, and TGL, where all three stocks closed limit up. On the flip side, cement, steel, and tech sectors closed in the red.
Turnover dropped to 245 million shares, where WTL (down 0.8 percent), TPLP (down 4.5 percent), PPL (up 2.4 percent), WHALE (down 12 percent), and PRL (down 2.3 percent) were the volume leaders.
BR Automobile Assembler Index lost 24.84 points or 0.29 percent to close at 8,410.34 points with total turnover of 5.006 million shares.
BR Cement Index decreased by 46.53 points or 0.94 percent to close at 4,887.07 points with 12.170 million shares.
BR Commercial Banks Index surged by 282.96 points or 2.93 percent to close at 9,937.45 points with 34.795 million shares.
BR Power Generation and Distribution Index gained 59.46 points or 0.71 percent to close at 8,485.69 points with 19.349 million shares.
BR Oil and Gas Index inched up by 23.45 points or 0.58 percent to close at 4,087.02 points with 33.943 million shares.
BR Tech. & Comm. Index declined by 58.45 points or 1.47 percent to close at 3,920.26 points with 36.976 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed higher amid upbeat data on $2.56 billion current deficit falling by 85 percent YoY in FY23 and $334 million surplus in June 2023.
He said $600 million China rollover on debt, Pakistan assurance to US for implementation of IMF programme, and surging FX reserves played a catalyst role in bullish close.
Copyright Business Recorder, 2023
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