KARACHI: A positive trend continued on Pakistan Stock Exchange on Tuesday on the back of healthy buying by both local and foreign investors coupled with institutional support.
The benchmark KSE-100 index increased by 380.63 points or 0.58 percent and closed at 65,906.28 points. During the session, the index hit 65,989.54 points intra-day high, however closed on slightly lower level due to profit taking in some stocks.
Trading activity also improved as total daily volumes on ready counter increased to 303.710 million shares as compared to 261.194 million shares traded on Monday while total daily traded value on the ready counter increased to Rs 12.078 billion against previous session’s Rs 8.945 billion.
BRIndex100 added 50.22 points or 0.74 percent to close at 6,798.81 points with total daily turnover of 245.486 million shares.
BRIndex30 gained 46.25 points or 0.21 percent to close at 22,304.87 points with total daily trading volumes of 168.754 million shares.
Foreign investors also remained net buyers of shares worth $1.293 million. Total market capitalization increased by Rs 54 billion to Rs 9.265 trillion. Out of total 319 active scrips, 157 closed in negative and 153 in positive while the value of 9 stocks remained unchanged.
P.I.A.C. (A) was the volume leader with 30.297 million shares and increased by Rs 1.77 to close at Rs 25.39 followed by P.T.C.L. that gained Rs 0.40 to close at Rs 16.10 with 28.146 million shares. National Bank surged by Rs 1.20 to close at Rs 40.56 with 21.033 million shares.
Rafhan Maize Products Company and Sapphire Fibres were the top gainers increasing by Rs 89.89 and Rs 87.50 respectively to close at Rs 8,290.00 and Rs 1,582.50 while Bata Pakistan and Philip Morris Pakistan were the top losers declining by Rs 37.17 and Rs 25.00 respectively to close at Rs 1,680.00 and Rs 710.00.
An analyst at Topline Securities said that the trading session in Pakistan’s stock market concluded with the index reaching 65,906, marking a 0.58 percent increase or 381 points.
Throughout the day, the index exhibited a mixed performance, experiencing intraday highs and lows at 65,990 and 65,493 points, respectively.
Contributing positively to the index were the Fertilizer, Banking, and Cement sectors, with FFC, MEBL, UBL, LUCK, and ENGRO collectively adding 305 points. Conversely, EFERT, BAFL, and MCB incurred losses totalling 51 points.
BR Automobile Assembler Index increased by 160.22 points or 1.03 percent to close at 15,689.05 points with total turnover of 8.308 million shares.
BR Cement Index surged by 95.1 points or 1.52 percent to close at 6,349.10 points with 10.250 million shares.
BR Commercial Banks Index added 143.97 points or 0.86 percent to close at 16,937.75 points with 37.034 million shares.
BR Power Generation and Distribution Index decreased by 67.89 points or 0.47 percent to close at 14,453.01 points with 9.613 million shares.
BR Oil and Gas Index inched down by 4.16 points or 0.07 percent to close at 6,091.85 points with 38.764 million shares.
BR Tech. & Comm. Index lost 9.45 points or 0.26 percent to close at 3,686.35 points with 53.450 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the KSE-100 index saw positive movement, gaining 381 points to close at 65,906 level.
Trading activity was lively, with volumes reaching 304 million shares. Notable volume leaders for the day included PIAA (up 7.5 percent), PTC (up 2.5 percent), NBP (up 3.0 percent), OGDC (up 0.8 percent) and WTL (down 0.8 percent).
Copyright Business Recorder, 2024
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