KARACHI: Pakistan Stock Exchange on Monday witnessed a bullish trend and hit new highest level in its history on the back of aggressive buying by local and foreign investors coupled with institutional support.
It was third consecutive session where the KSE-100 Index closed its day at all-time high level.
The benchmark KSE-100 Index surged by 1,132.21 points or 2.04 percent and crossed 56,000 psychological level for the first time in its history and closed at highest ever level of 56,523.58 points. The index hit 56,583.59 points intraday highest ever level, however closed at slightly lower level due to profit-taking in some stocks.
Trading activity further improved as daily volumes on ready counter increased to 660.649 million shares as compared to 640.836 million shares traded on last Friday while total daily traded value on ready counter increased to Rs 22.409 billion against previous session’s Rs 21.146 billion.
BRIndex100 added 114.56 points or 2.03 percent to close at 5,763.02 points with total daily turnover of 587.729 million shares.
BRIndex30 increased by 370.25 points or 1.87 percent to close at 20,153.32 points with total daily trading volumes of 394.193 million shares.
Foreign investors also remained net buyers of shares worth $1.008 million. Total market capitalization increased by Rs 129 billion to Rs 8.082 trillion. Out of total 385 active scrips, 220 closed in positive and 147 in negative while the value of 18 stocks remained unchanged.
WorldCall Telecom was the volume leader with 100.788 million shares and gained Rs 0.04 to close at Rs 1.37 followed by Cnergyico PK that lost Rs 0.08 to close at Rs 4.70 with 60.730 million shares. Hum Network closed at Rs 7.25, up Rs 0.02 with 32.478 million shares.
Rafhan Maize and Nestle Pakistan were the top gainers increasing by Rs 594.75 and Rs 547.50 respectively to close at Rs 8524.75 and Rs 7847.50 while Unilever Foods and Sapphire Fiber were the top losers declining by Rs 1400.00 and Rs 30.00 respectively to close at Rs 22000.00 and Rs 1200.00.
An analyst at Topline Securities said that bullish rampage at Pakistan equities continued with full force as bulls successfully managed to walk over 56,000 level and closed the trading hours at all time high level of 56,524, up 1,132 points or 2.04 percent.
It’s a 3rd consecutive session where the KSE-100 Index closed its day’s affair at all-time high level by discovering new highs.
The week commenced on a positive note where the investors continued to further strengthen their stocks positions aggressively which kept the benchmark index in a positive territory throughout the day.
During the day, Power, Fertilizer, Autos and Banking sector’s stocks contributed positively as HUBC, EFERT, MTL, BAHL and MCB added 552 points. On the other hand, some stocks like MEBL, UPFL and KEL experienced some profit taking, resulting in a combined loss of 49 points.
BR Automobile Assembler Index increased by 359.85 points or 3.11 percent to close at 11,943.70 points with total turnover of 7.880 million shares.
BR Cement Index added 144.36 points or 2.33 percent to close at 6,347.69 points with 54.339 million shares.
BR Commercial Banks Index gained 183.23 points or 1.4 percent to close at 13,267.19 points with 36.315 million shares.
BR Power Generation and Distribution Index surged by 623.54 points or 4.8 percent to close at 13,613.78 points with 39.186 million shares.
BR Oil and Gas Index inched up by 31.36 points or 0.64 percent to close at 4,950.37 points with 45.772 million shares.
BR Tech. & Comm. Index closed at 3,770.92 points, up 73.94 points or 2.0 percent with 186.085 million shares.
“Consecutive bullish sessions continued as KSE-100 Index closed at the level of 56,524, 1,132 points,” Mohammed Waqar Iqbal at JS Global Capital said.
Traded volumes stood at 661 million shares where WTL (up 3.0 percent), CNERGY (down 1.7 percent), HUMNL (up 0.3 percent), PRL (down 0.4 percent) and SEARL (up 7.1 percent) cumulatively contributed 36 percent to the total volumes.
Copyright Business Recorder, 2023
Comments
Comments are closed.