KARACHI: A bullish trend continued on Pakistan Stock Exchange Thursday as investors remained active throughout the day, experts said.

The market traded in the green zone as Pak rupee continued its upsurge against the US dollar, they added. The benchmark KSE-100 Index hit 41,630.63 points intraday high and closed slightly lower at 41,425.37 points with a net gain of 356.50 points or 0.87 percent.

The daily trading volumes on ready counter stood at 275.431 million shares as compared to 333.028 million shares traded on Wednesday while total daily traded value on ready counter declined to Rs 7.904 billion against previous day’s Rs 10.016 billion.

BRIndex100 gained 37.72 points or 0.93 percent to close at 4,104.96 points with total daily turnover of 252.659 million shares.

BRIndex30 inched up by 104.8 points or 0.7 percent to close at 15,123.40 points with total daily trading volumes of 179.532 million shares.

Foreign investors however remained net sellers of shares worth $169,567. Total market capitalization increased by Rs 34 billion to Rs 6.960 trillion. Out of total 343 active scrips, 212 closed in positive and 107 in negative while the value of 24 stocks remained unchanged.

WorldCall Telecom was the volume leader with 44.405 million shares and gained Rs 0.04 to close at Rs 1.23 followed by TPL Properties that lost Rs 0.20 to close at Rs 19.72 with 12.197 million shares. Pak Elektron closed at Rs 16.52, up Rs 0.70 with 11.967 million shares.

Allawasaya Textile and Premium Textile were the top gainers increasing by Rs 253.01 and Rs 46.87 respectively to close at Rs 3,626.50 and Rs 671.87 while Sanofi-Aventis and Colgate Palmolive were the top losers declining by Rs 65.00 and Rs 47.99 respectively to close at Rs 1,270.00 and Rs 2,390.01.

An analyst at Arif Habib Limited said that the positive momentum continued at the PSX as investors remained active throughout the day. The market traded in the green zone as Pak rupee continued its upsurge against the US dollar. Main board activity remained active although hefty volumes were witnessed in the 3rd tier stocks.

Sectors contributing to the performance include Banks (up 129.18 points), Cements (up 75.9 points), Fertilizer (up 25.8 points), Textiles (up 24.7 points) and OMCs (up 19.6 points).

BR Automobile Assembler Index gained 91.68 points or 1.0 percent to close at 9,290.06 points with total turnover of 1.372 million shares.

BR Cement Index surged by 89.68 points or 2.25 percent to close at 4,073.62 points with 19.162 million shares.

BR Commercial Banks Index increased by 119.06 points or 1.4 percent to close at 8,621.76 points with 6.337 million shares.

BR Power Generation and Distribution Index added 68.68 points or 1.27 percent to close at 5,477.67 points with 7.735 million shares.

BR Oil and Gas Index inched up by 14.69 points or 0.38 percent to close at 3,871.10 points with 15.239 million shares.

BR Tech. & Comm. Index closed at 3,632.42 points, up 9.14 points or 0.25 percent with 70.323 million shares.

An analyst at Topline Securities said that Pakistan equities continued its positive momentum where benchmark KSE-100 Index settled at 41,425 level, up 0.87 percent.

Pak rupee strengthening and China rolled over $2.0 billion loan in safe deposits and decline in international oil prices led the market to open on a positive note where market make an intraday high of plus 356 points. Investors interest witnessed in banking sector where MCB, HBL, MEBL and UBL close higher.

Copyright Business Recorder, 2022