KARACHI: A bullish momentum continued at Pakistan Stock Exchange (PSX) on the last trading day of the week Friday. The benchmark KSE-100 Index closed at its highest-ever level.
On Friday, the KSE-100 Index gained 2 percent or 1,129 points and closed at 55,391 points, making it the highest-ever closing. The index also hit 55,506 points intraday high and lowest level of 54,372 points.
The trading volumes on the ready counter increased to 641 million shares as compared to 482.744 million shares traded on Wednesday. The daily traded value on the ready counter increased to Rs 21.14 billion against previous session’s Rs 20.129 billion.
BRIndex100 increased by 125.72 points or 2.28 percent to close at 5,648.46 points with daily turnover of 567.815 million shares and Cnergyico PK was the most traded company in BRIndex100 with a volume of 103 million shares.
BRIndex30 also rose by 590.73 points or 3.08 percent to close at 19,783 points with total daily trading volumes of 409.044 million shares.
The market capitalization increased by Rs 133 billion to Rs 7.953 trillion. Out of total 380 active scrips, 260 closed in positive and 103 in negative while the value of 17 stocks remained unchanged.
Cnergyico PK was the volume leader with 103.4 million shares and increased by Rs0.47 to close at Rs 4.78 followed by Hum Network that gained Rs 0.51 to close at Rs 7.23 with 42.4 million shares. Pak Refinery closed at Rs23.18, up Rs 0.5 with 31.064 million shares.
Pak TobaccoXD and Archroma Pak were the top gainers increasing by Rs 49.00 and Rs 30.86 respectively to close at Rs 945.00 and Rs 489.31 while Rafhan MaizeXD and Gadoon were the top losers declining by Rs 36.67 and Rs 8.90, respectively to close at Rs 7,930.00 and Rs201.00.
Analysts said this positivity in the market can be attributed to PIB auction on Wednesday where yields came down in the range of 15-180 basis points from last auction indicating that the market expectation of cut in policy rate going forward and long-awaited notification from OGRA of increase in gas price which also provided a spur to the market.
Major positive contributions to the index came from HUBC, EFRT, OGDC, MCB and MEBL, as they cumulatively contributed 443 points to the index, they added.
BR Automobile Assembler Index gained 255.44 points or 2.25 to close at 11,583.85 points with a total turnover of 11.269 million shares.
BR Cement Index increased by 137.34 points or 2.26 percent to close at 6,203.33 points with a total turnover of 54,165 million shares.
BR Commercial Banks Index up by 173.18 points or 1.34 percent to close at 13,083.96 points with a turnover of 38.638 percent.
BR Power Generation and Distribution Index mounted up by 631.97 points 5.11 percent to close at 12,990.24 points with a total turnover of 59.389 million shares.
BR Oil and Gas Index also gained 74.25 points or 1.53 percent to close at 4,919.01 points with a total turnover of 55.166 million shares.
BR Tech. & Comm. Index surged by 80.3 points or 2.22 percent to close at 3,696.98 points with a total turnover of 105.075 million shares.
Copyright Business Recorder, 2023
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