KARACHI: Pakistan Stock Exchange on Monday hit new highest-ever levels on the back of buying interest, mainly by local investors coupled with institutional support.

The benchmark KSE-100 Index increased by 353.41 points or 0.44 percent and closed at new highest level of 80,566.21 points. The index hit 80,737.71 points intraday high and 80,192.31 points intraday low.

Trading activity however remained low as daily volumes on ready counter decreased to 261.649 million shares as compared to 448.981 million shares traded on last Friday. The daily traded value on the ready counter declined to Rs 13.024 billion against previous session’s Rs 18.995 billion.

BRIndex100 added 79.42 points or 0.93 percent to close at 8,575.02 points with daily turnover of 219.118 million shares

BRIndex30 surged by 259.73 points or 0.95 percent to close at 27,461.66 points with total daily trading volumes of 141.244 million shares.

Foreign investors however remained net sellers of shares worth $270,616. The market capitalization increased by Rs 82 billion to Rs 10.676 trillion. Out of total 427 active scrips, 216 closed in positive and 158 in negative while the value of 53 stocks remained unchanged.

Hum Network was the volume leader with 20.667 million shares and gained Rs 0.50 to close at Rs 11.36 followed by National Bank of Pakistan that increased by Rs 4.01 to close at Rs 50.92 with 19.555 million shares. Band of Punjab inched up by Rs 0.09 to close at Rs 5.79 with 17.587 million shares.

Sazgar Engineering Works Limited and Pakistan Hotels Developers Limited were the top gainers increasing by Rs 83.98 and Rs 57.66 respectively to close at Rs 998.89 and Rs 664.60 while Philip Morris Pakistan and Sapphire Textile Mills were the top losers declining by Rs 61.71 and Rs 27.71, respectively to close at Rs 617.48 and Rs 1,300.00.

An analyst at Topline Securities said that the KSE-100 Index maintained its positive momentum, reaching an intraday high of plus 524 points to close at 80,566, up 0.44 percent.

Trading was halted for two hours due to a fire on the 4th floor of the Pakistan Stock Exchange building. The PSX building was evacuated, and trading resumed once the blaze was controlled.

SAZEW from the auto sector gained 9.15 percent, attracting investor interest due to anticipated exceptional monthly sales numbers.

The cement and banking sectors continued their positive momentum from last week, with MLCF, FCCL, LUCK, DGKC, HBL, NBP, ABL, and HBL cumulatively contributing plus 267 points to the positive index.

BR Automobile Assembler Index surged by 227.56 points or 1.32 percent to close at 17,425.16 points with total turnover of 7.593 million shares.

BR Cement Index increased by 94.09 points or 1.2 percent to close at 7,941.08 points with 19.608 million shares.

BR Commercial Banks Index soared by 228.42 points or 0.99 percent to close at 23,342.74 points with 66.307 million shares.

BR Power Generation and Distribution Index added 73.94 points or 0.37 percent to close at 19,880.39 points with 9.302 million shares.

BR Oil and Gas Index gained 35.17 points or 0.52 percent to close at 6,772.97 points with 14.761 million shares.

BR Tech. & Comm. Index lost 8.99 points or 0.23 percent to close at 3,969.28 points with 41.602 million shares.

Mubashir Anis Naviwala at JS Global Capital said that the KSE-100 Index started the day on a positive note, but trading at the bourse soon came to a halt due to fire at the PSX premises. Trading activity was suspended for about two hours. After resumption, the market stayed in the green zone.

Major buying was observed in banking sector stocks, although overall volumes remained low due to the shortened trading day.

Copyright Business Recorder, 2024