KARACHI: Pakistan Stock Exchange on Friday witnessed a bullish trend and closed on positive note on the back of fresh buying on attractive, low levels.
The benchmark KSE-100 Index increased by 219.02 points or 0.47 percent and closed at 46,421.15 points. The index hit 46,500.45 points intraday high and 46,182.00 points intraday low.
The daily trading volumes on ready counter stood at 172.894 million shares as compared to 172.158 million shares traded on Thursday. The daily traded value on ready counter increased to R 6.269 billion against previous session’s Rs 5.345 billion.
BRIndex100 gained 26.53 points or 0.57 percent to close at 4,654.85 points with total daily turnover of 147.527 million shares.
BRIndex30 surged by 181.98 points or 1.11 percent to close at 16,623.13 points with total daily trading volumes of 100.740 million shares.
Foreign investors however remained net sellers of shares worth $543,718. Total market capitalization increased by Rs 33 billion to Rs 6.873 trillion. Out of total 323 active scrips, 197 closed in positive and only 99 in negative while the value of 27 stocks remained unchanged.
Cnergyico PK was the volume leader with 10.563 million shares and gained Rs 0.11 to close at Rs 3.09 followed by WorldCall Telecom that closed at Rs 1.14, down Rs 0.01 with 10.059 million shares. Unity Foods increased by Rs 1.07 and closed at Rs 25.41 with 8.137 million shares.
Sapphire Textile and Sapphire Fiber were the top gainers increasing by Rs 64.93 and Rs 57.65 respectively to close at Rs 1192.93 and Rs 1205.65 while Nestle Pakistan and Pak Services were the top losers declining by Rs 90.00 and Rs 14.90 respectively to close at Rs 7000.00 and Rs 725.00.
An analyst at Topline Securities said the KSE-100 Index largely traded in positive zone during the trading session, as index gained to close at 46,421 level (up by 0.47 percent).
Major positive contribution to the index came from HUBC, PPL, FFC, DAWH and UNITY, as they cumulatively contributed plus 138 points; whereas SYS, ENGRO, MTL, NESTLE and TRG lost value to weigh down on the index by negative 60 points.
BR Automobile Assembler Index inched up by 10.7 points or 0.12 percent to close at 9,021.97 points with total turnover of 11.699 million shares.
BR Cement Index lost 22.9 points or 0.48 percent to close at 4,709.12 points with 10.177 million shares.
BR Commercial Banks Index gained 51.86 points or 0.48 percent to close at 10,868.89 points with 18.570 million shares.
BR Power Generation and Distribution Index increased by 166.34 points or 1.83 percent to close at 9,261.22 points with 24.381 million shares.
BR Oil and Gas Index added 33.31 points or 0.77 percent to close at 4,347.01 points with 17.359 million shares.
BR Tech. & Comm. Index fell by 21.63 points or 0.58 percent to close at 3,708.75 points with 16.360 million shares.
Ahsan Mehanti at Arif Habib Corporation said stocks closed higher amid reports of surging exports supporting the rupee recovery and rising FX reserves near to $7.7 billion.
He said oil stocks outperformed on surging global crude oil prices, surge in exports by 22.45 percent YoY in July-August 2023, ECP announcement on Polls and Government decision to deliberate sick SOEs selloff played a catalytic role in bullish close.
Copyright Business Recorder, 2023
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