KARACHI: Pakistan Stock Exchange on Wednesday closed on positive note on the back of healthy buying by both local and foreign investors coupled with institutional support.
The benchmark KSE-100 index surged by 484.35 points or 0.77 percent and closed at 63,703.45 points. During the session, the index hit 63,929.58 points intra-day high and 63,042.15 points intra-day low level.
Trading activities also improved as total daily volumes on ready counter increased to 461.390 million shares as compared to 409.962 million shares traded on Tuesday while total daily traded value on the ready counter increased to Rs 16.00 billion against previous session’s Rs 14.675 billion.
BRIndex100 added 61.1 points or 0.94 percent to close at 6,545.39 points with total daily turnover of 389.197 million shares.
BRIndex30 increased by 199.76 points or 0.9 percent to close at 22,297.92 points with total daily trading volumes of 306.915 million shares.
The foreign investors also remained net buyers of shares worth $2.958 million. Total market capitalization increased by Rs 52 billion to Rs 9.141 trillion. Out of total 355 active scrips, 180 closed in positive and 149 in negative while the value of 26 stocks remained unchanged.
Cnergyico PK was the volume leader with 62.181 million shares and gained Re 0.34 to close at Rs 4.39 followed by K-Electric that inched up by Re 0.27 to close at Rs 4.79 with 45.494 million shares. Hascol Petroleum closed at Rs 7.98, up Re 0.69 with 30.485 million shares.
Unilever Pakistan Foods and The Premier Sugar Mills were the top gainers increasing by Rs 655.00 and Rs 33.75 respectively to close at Rs 21,800.00 and Rs 483.75 while Pakistan Services Limited and Bata Pakistan were the top losers declining by Rs 50.00 and Rs 25.00 respectively to close at Rs 740.00 and Rs 1,700.00.
Ahsan Mehanti at Arif Habib Corporation said bullish activity witnessed as investor weigh NA session summoned to set up Government and Moody’s hints over upgrade on Government external, liquidity risk fall.
He said BofA upgrade for Pakistan Bonds citing easing political uncertainty, Government efforts to gain up to $8.0 billion IMF loans quota under SDRs and China rollover on $2.0 billion debt played a catalyst role in bullish close in the post poll rally at PSX.
BR Automobile Assembler Index gained 43.46 points or 0.3 percent to close at 14,738.36 points with total turnover of 5.368 million shares.
BR Cement Index surged by 200.83 points or 3.13 percent to close at 6,617.99 points with 22.608 million shares.
BR Commercial Banks Index inched up by 39.37 points or 0.24 percent to close at 16,247.00 points with 38.551 million shares.
BR Power Generation and Distribution Index added 68.89 points or 0.49 percent to close at 14,000.42 points with 58.072 million shares.
BR Oil and Gas Index increased by 67.29 points or 1.14 percent to close at 5,962.39 points with 52.145 million shares.
BR Tech & Comm Index declined by 76.13 points or 1.98 percent to close at 3,765.36 points with 79.775 million shares.
Mohammed Waqar Iqbal at JS Global Capital said that the market displayed a positive trend throughout the day with notable activity in the Banking and Oil Exploration (E&P) sectors.
Traded volume stood at 461 million shares where CNERGY (up 8.4 percent), KEL (up 6.0 percent), HASCOL (up 9.5 percent), WTL (up 0.8 percent) and PRL (up 2.6 percent) were the volume leaders.
Copyright Business Recorder, 2024
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