KARACHI: Pakistan Stock Exchange on Friday witnessed a mixed trend and after moving in both directions, closed on a positive note due to fresh buying in some sectors in the second half of the trading session.

The benchmark KSE-100 Index increased by 609.03 points or 0.54 percent and closed at 113,247.29 points. During the session, the index hit 113,554.07 points intra-day high and 112,013.59 points intra-day low levels.

Trading activity remained very low as daily volumes on ready counter declined to 499.846 million shares as compared to 695.142 million shares traded on Thursday while total daily traded value on the ready counter increased to Rs 24.825 billion against previous session’s Rs 24.293 billion.

BRIndex100 added 73.69 points or 0.63 percent to close at 11,796.75 points with total daily turnover of 450.453 million shares.

BRIndex30 surged by 738.42 points or 2.09 percent to close at 36,097.74 points with total daily trading volumes of 342.336 million shares.

Foreign investors however remained on the selling side and withdrew $1.624 million from the local equity market. Total market capitalization increased by Rs 74 billion to Rs 14.230 trillion. Out of total 450 active scrips, 218 closed in negative and 177 in positive while the value of 55 stocks remained unchanged.

WorldCall Telecom was the volume leader with 68.828 million shares however lost Rs 0.04 to close at Rs 1.75 followed by Fauji Foods that gained Rs 0.44 to close at Rs 17.09 with 31.850 million shares. Cnergyico PK closed at Rs 6.68, down Rs 0.01 with 31.582 million shares.

Nestle Pakistan and Unilever Pakistan Foods were the top gainers increasing by Rs 351.39 and Rs 89.00 respectively to close at Rs 7,502.60 and Rs 20,900.01 while PIA Holding Company LimitedB and Service Industries Limited were the top losers declining by Rs 67.82 and Rs 28.58 respectively to close at Rs 844.57 and Rs 1,416.18.

“Continuing it momentum, the market opened on negative and traded in negative zone during the first trading session where index declined to make an intraday low of minus 625 points (down 0.55 percent)”, an analyst at Topline Securities said.

However, in second half of trading session buying by institutions was observed as they came in to buy the dip, as index recovered to close at 113,247 level (up by 0.54 percent), he added.

Traded value wise AIRLINK ($10.54 million), OGDC ($7.63 million), PPL ($5.86 million), PSO ($4.64 million) and FFC ($3.2 million) dominated the trading activity.

Top positive contribution to the index came from OGDC, PPL, BAHL, HMB, DGKC and FCCL, as they cumulatively contributed plus 773 points to the index

BR Automobile Assembler Index gained 21.84 points or 0.1 percent to close at 21,082.68 points with total turnover of 6.192 million shares.

BR Cement Index increased by 117.68 points or 1.12 percent to close at 10,622.52 points with 41.242 million shares.

BR Commercial Banks Index added 145.95 points or 0.5 percent to close at 29,430.38 points with 22.400 million shares.

BR Power Generation and Distribution Index lost 16.8 points or 0.09 percent to close at 17,978.49 points with 27.125 million shares.

BR Oil and Gas Index surged by 349.69 points or 2.93 percent to close at 12,272.37 points with 41.557 million shares.

BR Tech. & Comm. Index decreased by 51.93 points or 0.98 percent to close at 5,272.41 points with 110.160 million shares.

Ali Najib at Insight Securities said that the PSX had a very interesting day where a battle of wills between bulls and bears has been witnessed throughout the trading hours as both sides tried to influence the KSE-100 index in their respective direction.

However, bulls had the day on their name as the benchmark index closed the affairs at 113,247 levels, translating a gain of 609 points or an upside of 0.54 percent.

Initially, directionless behavior has been observed as index got caught in a pull and push situation due to absence of any positive triggers. So, profit taking and value hunting sentiments locked in a struggle during the trading session. Ultimately, some fresh flows in energy sectors stocks saved the day.

OGDC, PPL, BAHL, FFC and HMB cumulatively added 713 points to the index. Conversely, ENGROH, HUBC, UBL, HBL and MEBL lost 216 points, collectively. ENDs.

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