KARACHI: Pakistan Stock Exchange on Thursday witnessed a mixed trend and after moving in both directions, closed on slightly positive note due to fresh buying at the fag end.
The benchmark KSE-100 Index hit 72,889.78 points intraday high and 72,325.35 points intraday low, before closing at 72,658.05 points, up 56.24 points or 0.08 percent.
Trading activity remained low as total daily volumes on ready counter declined to 674.981 million shares as compared to 970.325 million shares traded on Wednesday while total daily traded value on the ready counter increased to Rs 24.053 billion against previous session’s Rs 23.514 billion.
BRIndex100 inched up by 3.71 points or 0.05 percent to close at 7,633.42 points with total daily turnover of 606.795 million shares.
BRIndex30 increased by 181.99 points or 0.73 percent to close at 25,171.88 points with total daily trading volume of 429.184 million shares.
Foreign investors remained net sellers of shares worth $136,193. The market capitalization increased by Rs 17 billion to Rs 9.821 trillion. Out of total 376 active scrips, 218 closed in positive and 126 in negative while the value of 32 stocks remained unchanged.
WorldCall Telecom was the volume leader with 175.149 million shares and closed at previous session’s closing level of Rs 1.51 without any change followed by Pak Elektron increased by Rs 1.85 to close at Rs 27.55 with 40.246 million shares. K-Electric closed at Rs 4.69, up Rs 0.01 with 31.255 million shares.
Unilever Pakistan Foods and Ismail Industries were the top gainers increasing by Rs 194.80 and Rs 89.95 respectively to close at Rs 19,189.98 and Rs 1,289.29 while Bhanero Textile Mills and Hallmark Company Limited were the top losers declining by Rs 63.39 and Rs 62.90 respectively to close at Rs 996.61 and Rs 775.72.
An analyst at Topline Securities said the trading session at the Pakistan stock market index was a mix of ups and downs, with the index reaching an intraday high of plus 287.98 points (up by 0.40 percent) and an intraday low of minus 276.46 points (down by 0.38 percent), eventually closing at the 72,658 level.
The positive momentum in the index was mainly driven by contributions from TRG, SRVI, SYS, DGKC, and SEARL, collectively adding 115 points. Conversely, ENGRO, FFC, EFERT, BAHL, and HUBC collectively dragged the index down by 170 points.
Investor interest was notably seen in the technology sector, with HUMNL (up 11 percent), OCTOPUS (up 7.50 percent), TRG (up 6.66 percent) and AVN (up 3.98 percent) closing higher than their previous day’s values.
BR Automobile Assembler Index gained 5.41 points or 0.03 percent to close at 16,050.47 points with total turnover of 30.085 million shares.
BR Cement Index increased by 84.52 points or 1.17 percent to close at 7,324.41 points with 39.373 million shares.
BR Commercial Banks Index lost 31.0 points or 0.16 percent to close at 18,937.32 points with 32.205 million shares.
BR Power Generation and Distribution Index declined by 103.64 points or 0.61 percent to close at 16,796.39 points with 49.279 million shares.
BR Oil and Gas Index inched up by 7.74 points or 0.12 percent to close at 6,608.78 points with 19.792 million shares.
BR Tech. & Comm. Index surged by 120.3 points or 3.25 percent to close at 3,818.71 points with 234.086 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the market opened on a positive note and touched a high of 72,890.
Sectors such as E&P, Fertilizers, Banks, and Refinery witnessed profit-taking, while Pharmaceuticals, Cement, and Technology stocks thrived, leading the market to close in the green zone with a gain of 56 points at 72,685.
Copyright Business Recorder, 2024
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