KARACHI: Pakistan Stock Exchange Tuesday witnessed a bullish trend and closed on strong positive note with healthy gains on the back of aggressive buying in almost all sectors.
The market opened on positive note and remained in green zone throughout the day as investor’s confidence boosted due to policy rate being unchanged.
The benchmark KSE-100 Index surged by 540.11 points or 1.26 percent and once again crossed 43,000 psychological level to close at 43,366.77 points. During the session, the index hit 43,418.37 points intraday high.
Trading activity also improved as daily volumes on ready counter increased to 324.443 million shares as compared to 194.667 million shares traded on Monday while total daily traded value on ready counter increased to Rs 9.655 billion against previous day’s Rs 5.331 billion.
BRIndex100 gained 68 points or 1.59 percent to close at 4,350.41 points with total daily turnover of 237.983 million shares.
BRIndex30 increased by 217.7 points or 1.39 percent to close at 15,915.95 points with total daily trading volumes of 146.678 million shares.
Foreign investors however remained net sellers of shares worth $960,251. Total market capitalization increased by Rs 77 billion to Rs 7.211 trillion. Out of total 341 active scrips, 211 closed in positive and 107 in negative while the value of 23 stocks remained unchanged.
Hascol Petrol was the volume leader with 64.117 million shares and gained Rs 0.35 to close at Rs 6.94 followed by K-Electric that inched up by Rs 0.05 to close at Rs 3.40 with 25.229 million shares. WorldCall Telecom closed at Rs 1.36, down Rs 0.02 with 16.970 million shares.
Nestle Pakistan and Colgate Palmolive were the top gainers increasing by Rs 242.00 and Rs 64.99 respectively to close at Rs 6,197.00 and Rs 2,400.00 while Pak Services and Sanofi-Aventis were the top losers declining by Rs 95.00 and Rs 70.00 respectively to close at Rs 1,175.00 and Rs 1,270.00.
An analyst at Topline Securities said that Pakistan equities closed on a positive note where benchmark KSE-100 Index settled at 43,366 level, up 1.26 percent. The day kicked off on a positive note as the SBP maintains policy rate at 15 percent moreover, the IMF will consider Pakistan 7th and 8th review under EFF facility on 29th August, 2022 which led the market to make an intraday high of plus 592 points.
LUCK, FFC, SYS, EFERT and ENGRO were the major gainers in the trading session cumulatively added 240 points KSE100 Index.
BR Automobile Assembler Index gained 61.86 points or 0.64 percent to close at 9,727.97 points with total turnover of 1.607 million shares.
BR Cement Index surged by 164.21 points or 3.78 percent to close at 4,503.10 points with 20.380 million shares.
BR Commercial Banks Index inched up 44.17 points or 0.49 percent to close at 9,111.54 points with 25.535 million shares.
BR Power Generation and Distribution Index increased by 63.58 points or 1.07 percent to close at 6,010.57 points with 40.699 million shares.
BR Oil and Gas Index added 50.19 points or 1.26 percent to close at 4,038.11 points with 77.425 million shares.
BR Tech. & Comm. Index closed at 3,819.13 points, up 70.04 points or 1.87 percent with 45.930 million shares.
An analyst at Arif Habib Limited said that the PSX witnessed a bullish session. The benchmark KSE-100 Index traded in the green zone throughout the day as investor’s confidence boosted due to policy rate being unchanged.
Cement sector remained in the limelight. Hefty volumes were witnessed in the main board and 3rd tier stocks.
Sectors contributing to the performance include Fertilizer (up 124.8 points), Cement (up 121.7 points), E&P (up 72.2 points), Technology (up 62.2 points) and Banks (up 43.9 points).
Copyright Business Recorder, 2022