KARACHI: Despite mid-session pressure, Pakistan Stock Exchange on Tuesday closed at new highest-ever level on the back of renewed buying in various sectors.

The benchmark KSE-100 Index surged by 414.46 points or 0.63 percent and closed at new highest-ever levels of 66,426.78 points. During the session, the index hit 66,604.04 points intra-day high and 66,121.14 points intra-day low levels.

Trading activity remained low as total daily volumes on ready counter decreased to 969.630 million shares as compared to 1,215.932 million shares traded on Monday while total daily traded value on ready counter declined to Rs 26.931 billion against previous session’s Rs 33.423 billion.

BRIndex100 gained 36.81 points or 0.54 percent to close at 6,820.00 points with total daily turnover of 833.736 million shares.

BRIndex30 increased by 207.73 points or 0.87 percent to close at 24,205.69 points with total daily trading volumes of 543.540 million shares.

Foreign investors also remained net buyers of shares worth $26,892. Total market capitalization increased by Rs 81 billion to Rs 9.543 trillion. Out of total 385 active scrips, 244 closed in positive and 127 in negative while the value of 14 stocks remained unchanged.

WorldCall Telecom was the volume leader with 98.866 million shares and gained Rs 0.07 to close at Rs 1.78 followed by PTCL that increased by Rs 0.86 to close at Rs 11.01 with 79.248 million shares. K-Electric inched up by Rs 0.05 to close at Rs 4.54 with 66.712 million shares.

Unilever Pakistan Foods and Nestle Pakistan were the top gainers increasing by Rs 500.00 and Rs 150.00 respectively to close at Rs 22,100.00 and Rs 8700.00 while Philip Morris Pakistan and Service Industries were the top losers declining by Rs 36.90 and Rs 26.02 respectively to close at Rs 548.10 and Rs 649.38.

“After a slight decline on Monday, the Pakistan equity market rebounded, with the KSE-100 Index increasing by 414 points or 0.63 percent, closing the session at a new record high of 66,426.”

Investors were closely watching the decision by the Monetary Policy Committee, with the prevailing market sentiment indicating a leaning towards maintaining the current interest rates, while some anticipate a modest rate reduction. However, the Monetary Policy Committee maintained the interest rate unchanged at 22.00 percent.

Throughout the trading hours, positive contributions from stocks in the Cement, Auto, Power, Fertilizer, and OMC sectors, including LUCK, MTL, HUBC, EFERT, and SNGP, collectively added 222 points. On the other hand, profit-taking activities in stocks such as MCB, UBL, and SRVI resulted in a combined loss of 116 points.

BR Automobile Assembler Index surged by 268.57 points or 1.86 percent to close at 14,693.40 points with total turnover of 6.600 million shares.

BR Cement Index increased by 130.97 points or 1.9 percent to close at 7,018.99 points with 47.775 million shares.

BR Commercial Banks Index declined by 124.35 points or 0.77 percent to close at 16,082.62 points with 107.394 million shares.

BR Power Generation and Distribution Index added 168.95 points or 1.18 percent to close at 14,516.69 points with 88.134 million shares.

BR Oil and Gas Index gained 66.52 points or 1.08 percent to close at 6,234.94 points with 89.927 million shares.

BR Tech. & Comm. Index inched up by 19.72 points or 0.45 percent to close at 4,406.12 points with 260.557 million shares.

Mubashir Anis Naviwala at JS Global Capital said that bullish trend continued as KSE-100 Index touched an intraday high of 66,604 level.

Traded volume stood at 970 million shares where WTL (up 4.1 percent), PTC (up 8.5 percent), KEL (up 1.1 percent), BOP (up 7.5 percent) and TELE (up 9.5 percent) were the volume leaders.

Copyright Business Recorder, 2023