KARACHI: Pakistan Stock Exchange on Thursday witnessed a mixed trend and after moving both ways, closed on a positive note due to fresh buying at low levels.
The benchmark KSE-100 Index hit 62,850.10 points intraday high and 61,750.97 points intraday low before closing at 62,693.57 points, up 245.56 points or 0.39 percent.
Trading activity remained low as daily volumes on the ready counter decreased to 812.383 million shares as compared to 1,187.368 million shares traded on Wednesday while total daily traded value on the ready counter declined to Rs 16.687 billion against previous session’s Rs 26.038 billion.
BRIndex100 added 50.92 points or 0.79 percent to close at 6,460.93 points with total daily turnover of 747.381 million shares.
BRIndex30 increased by 262.89 points or 1.13 percent to close at 23,540.27 points with total daily trading volumes of 559.336 million shares.
Foreign investors also remained net sellers of shares worth $671,328. Total market capitalization increased by Rs 44 billion to Rs 9.071 trillion. Out of total 358 active scrips, 251 closed in positive and only 93 in negative while the value of 14 stocks remained unchanged.
K-Electric was the volume leader with 209.399 million shares however lost Rs 0.17 to close at Rs 5.60 followed by Cnergyico PK that gained Rs 0.60 to close at Rs 5.49 with 101.559 million shares. WorldCall Telecom inched up by Rs 0.03 to close at Rs 1.58 with 59.818 million shares.
Bata Pakistan and Sapphire Textile Mills were the top gainers increasing by Rs 46.80 and Rs 46.65 respectively to close at Rs 1696.80 and Rs 1330.00 while Unilever Pakistan Foods and Nestle Pakistan were the top losers declining by Rs 444.00 and Rs 194.00 respectively to close at Rs 21,355.00 and Rs 7906.00.
An analyst at Topline Securities said that the Pakistan equities began the day by extending losses from previous trading sessions. Later, bullish trend witnessed in the market, leading to a positive close. The index concluded the session at 62,693, reflecting an increase of 245 points or 0.39 percent.
During the trading day, the index traded within a range of 1,099 points, reaching an intraday high of 62,850 (up 402.08 points) and a low of 61,750.97 (down 697.04 points).
Positive contributions from stocks in the OMCs and Refinery sectors, such as PPL, PSO, OGDC, CNERGY, and ATRL, collectively added 183 points. On the contrary, DAWH, MCB, and ENGRO resulted in a combined loss of 133 points.
BR Automobile Assembler Index surged by 191.2 points or 1.38 percent to close at 14,084.57 points with total turnover of 6.156 million shares.
BR Cement Index added 65.61 points or 1.0 percent to close at 6,628.67 points with 17.230 million shares.
BR Commercial Banks Index inched up by 8.87 points or 0.06 percent to close at 14,977.99 points with 44.492 million shares.
BR Power Generation and Distribution Index declined by 110.51 points or 0.76 percent to close at 14,442.12 points with 215.761 million shares.
BR Oil and Gas Index increased by 75.5 points or 1.26 percent to close at 6,045.81 points with 65.061 million shares.
BR Tech. & Comm. Index gained 31.18 points or 0.78 percent to close at 4,047.23 points with 130.538 million shares.
“Another trading session marked by high volatility was witnessed, with the KSE-100 Index initially experiencing a 1.1 percent decline before making a strong recovery to finish the day with a positive gain of 245 points, closing at 62,693 level”, Mubashir Anis Naviwala at JS Global Capital said.
The E&P Sector led the market with OGDC (up 1.7 percent) and PPL (up 20 percent) closing positive with healthy volumes.
Traded volume stood at 812 million shares where KEL (down 2.9 percent), CNERGY (up 12 percent), WTL (up 1.9 percent), PTC (up 2.2 percent) and KOSM (up 13 percent) were the volume leaders.
Copyright Business Recorder, 2023
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