KARACHI: Pakistan Stock Exchange Wednesday remained under pressure due to selling pressure, however fresh buying at the fag end supported the market to close on positive note.
The benchmark KSE-100 Index hit 43,734.33 points intraday high and 43,384.34 points intra-day high before closing at 43,676.56 points with net gain of 240.08 points or 0.55 percent.
The daily trading volumes on the ready counter increased to 607.995 million shares as compared to 518.045 million shares traded on Tuesday while total daily traded value on ready counter however declined to Rs 11.129 billion against previous day’s Rs 16.215 billion.
BRIndex100 gained 35.72 points or 0.82 percent to close at 4,382.15 points with total daily turnover of 525.433 million shares.
BRIndex30 increased by 163.57 points or 1.03 percent to close at 16,103.24 points with total daily trading volumes of 410.307 million shares.
Foreign investors also remained net buyers of shares worth $433,065. Total market capitalization increased by Rs 15 billion to Rs 7.269 trillion. Out of total 356 active scrips, 171 closed in negative and 153 in positive while the value of 32 stocks remained unchanged.
K-Electric was the top volume leader with 209.086 million shares and gained Rs 0.43 to close at Rs 3.73 followed by WorldCall Telecom that closed at Rs 1.30, down Rs 0.01 with 53.211 million shares. Hascol Petroleum lost Rs 0.23 to close at Rs 6.67 with 48.292 million shares. Sanofi-Aventis and Systems Limited were the top gainers increasing by Rs 50.00 and Rs 21.38 respectively to close at Rs 1,540.00 and Rs 382.82 while Rafhan Maize and Nestle Pakistan were the top losers declining by Rs 200.00 and Rs 150.00 respectively to close at Rs 10,200.00 and Rs 6,000.00.
An analyst at Arif Habib Limited said that the PSX witnessed a positive session. The KSE-100 Index opened in the green zone but investors opted for profit taking in the1st trading hour. Banking sector remained in the limelight due to major result announcements. Value buying was observed in the last trading hour which led the index to close in the green zone. Sectors contributing to the performance include Technology (up 116.2 points), Cement (up 97.2 points), Power (up 38.1 points), Engineering (up 16.1 points) and Fertilizer (up 13.6 points).
BR Automobile Assembler Index decreased by 77.17 points or 0.79 percent to close at 9,712.02 points with total turnover of 2.225 million shares.
BR Cement Index surged by 129.61 points or 2.98 percent to close at 4,485.04 points with 38.157 million shares.
BR Commercial Banks Index lost 3.41 points or 0.04 percent to close at 9,250.07 points with 16.284 million shares.
BR Power Generation and Distribution Index added 75.1 points or 1.24 percent to close at 6,126.77 points with 234.661 million shares. BR Oil and Gas Index closed at 4,044.78 points, down 19.9 points or 0.49 percent with 59.707 million shares.
BR Tech. & Comm. Index increased by 125.03 points or 3.36 percent to close at 3,848.02 points with 98.262 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the KSE-100 Index closed at 43,676, gaining 240 points.
Technology and Cement sectors witnessed good participation by investors while E&P sector witnessed profit taking during the day. KEL (up 13 percent), WTL (down 0.8 percent), HASCOL (down 3.3 percent), PIAA (up 24 percent) and FLYNG (up 6.9 percent) were the volume leaders.
Copyright Business Recorder, 2022