KARACHI: Pakistan Stock Exchange Thursday witnessed a positive trend on the back of fresh buying on available attractive low levels.

The benchmark KSE-100 Index increased by 250.68 points or 0.61 percent and closed at 41,325.63 points. The index hit 41,498.63 points intraday high, however closed at slightly low level due to profit-taking in some stocks.

Trading activity remained low as daily volumes on ready counter decreased to 96.850 million shares as compared to 99.182 million shares traded Wednesday. Daily traded value on ready counter declined to Rs 2.891 billion against previous session’s Rs 3.303 billion.

BRIndex100 gained 28.04 points or 0.67 percent to close at 4,185.74 points with total daily turnover of 82.807 million shares.

BRIndex30 added 95.64 points or 0.66 percent to close at 14,518.13 points with total daily trading volumes of 52.118 million shares.

Foreign investors were also net buyers of shares worth $195,122. The market capitalization increased by Rs 27 billion to Rs 6.189 trillion. Out of total 301 active scrips, 180 closed in positive and only 96 in negative while the value of 25 stocks remained unchanged.

WorldCall Telecom was the volume leader with 17.191 million shares and closed at previous session’s closing level of Rs 1.14 without any change followed by P.I.A.C. (A) that gained Rs 0.18 to close at Rs 3.60 with 4.769 million shares. Quice Food inched up by Rs 0.13 to close at Rs 4.42 with 4.289 million shares. Sapphire Fiber and Packages Limited were the top gainers increasing by Rs 69.46 and Rs 22.83 respectively to close at Rs 1003.76 and Rs 364.55 while Nestle Pakistan and Bata Pak were the top losers declining by Rs 100.00 and Rs 40.00 respectively to close at Rs 5700.00 and Rs 1700.00.

“The bulls returned to the PSX after three consecutive depressive sessions,” an analyst at Arif Habib Limited said. The market began in the green as the IMF confirmed that talks between the government and the IMF mission were underway for the delivery of the 9th tranche from the IMF Program’s Extended Fund Facility. However, the Pak Rupee plunged versus the USD later in the day, and investor confidence suffered as a result lackluster activity was witnessed. Volumes were reasonable across the board, with third-tier stocks remaining in the spotlight.

Sectors contributing to the performance include Cement (up 54.3 points), E&P (up 49.2 points), Commercial Banks (up 41.6 points), Fertilizer (up 31.8 points) and Technology & Communication (up 21.8 points).

BR Automobile Assembler Index inched up by 5.83 points or 0.08 percent to close at 7,423.88 points with total turnover of 1.093 million shares.

BR Cement Index surged by 76.26 points or 1.83 percent to close at 4,249.06 points with 12.992 million shares.

BR Commercial Banks Index added 44.8 points or 0.51 percent to close at 8,822.49 points with 7.416 million shares.

BR Power Generation and Distribution Index increased by 53.57 points or 0.72 percent to close at 7,452.08 points with 3.419 million shares.

BR Oil and Gas Index gained 29.28 points or 0.77 percent to close at 3,833.54 points with 8.204 million shares.

BR Tech. & Comm. Index closed at 3,835.12 points, up 20.7 points or 0.54 percent with 23.196 million shares.

An analyst at Topline Securities said that Pakistan equities closed positive where the benchmark KSE-100 Index settled at 41,325 level, up 0.61 percent. Market opened on positive note to make an intraday high of plus 424 points, as IMF stated that they are engaged with Pakistan on stalled EFF program. Furthermore, decline in international coal prices also garnered investor interest in cement sector, where LUCK, PIOC and CHCC closed higher from their previous session`s closing.

LUCK, HBL, POL, ENGRO and PKGS were the major gainers in the trading session, as they cumulatively added 134 points in the KSE-100 Index.

Copyright Business Recorder, 2023