KARACHI: Bulls made a comeback and Pakistan Stock Exchange Thursday closed on a positive note due to fresh buying in various sectors. BRIndex100 gained 9.89 points or 0.19 percent to close at 5,240.45 points. BRIndex100 hit intraday high of 5,268.26 points and an intraday low of 5,229.35 points. Total volumes stood at 548.898 million shares.
BRIndex30 closed at 27,208.89 points, down 15.12 points or 0.06 percent with total daily turnover of 307.386 million shares.
The KSE-100 Index inched up by 61.84 points or 0.13 percent and closed at 47,962.54 points. Daily trading volumes on ready counter increased to 638.843 million shares as compared to 619.119 million shares traded Wednesday.
Foreign investors however remained net sellers of shares worth $608,449. Total market capitalization increased by Rs 5 billion to Rs 8.358 trillion. Out of total 421 active scrips, 207 closed in positive and 187 in negative while the value of 27 stocks remained unchanged.
WorldCall Telecom was the volume leader with 97.547 million shares however lost Rs 0.21 to close at Rs 3.65 followed by Pace (Pak) Limited that gained Rs 1.00 to close at Rs 6.85 with 35.667 million shares. Island Textile and Hinopak Motor were the top gainers increasing by Rs 55.00 and Rs 37.16 respectively to close at Rs 2400.00 and Rs 532.72 while Rafhan Maize and Sapphire Fiber were the top losers declining by Rs 100.00 and Rs 32.50 respectively to close at Rs 9400.00 and Rs 767.50.
BR Automobile Assembler Index gained 9.78 points or 0.1 percent to close at 9,813.55 points with total turnover of 24.157 million shares.
BR Cement Index inched up by 21.13 points or 0.28 percent to close at 7,600.71 points with 25.782 million shares.
BR Commercial Banks Index closed at 9,227.08 points, up 12.81 points or 0.14 percent with 49.048 million shares.
BR Power Generation and Distribution Index increased by 55.31 points or 0.96 percent to close at 5,808.92 points with 25.405 million shares.
BR Oil and Gas Index added 5.75 points or 0.14 percent to close at 4,159.05 points with 22.312 million shares.
BR Tech. & Comm. Index lost 40.85 points or 0.92 percent to close at 4,385.31 points with 188.777 million shares.
Maaz Mulla at JS Global Capital said bulls made a comeback as the market made an intraday high of up 217 points however profit taking was witnessed towards the end as the market closed up 61.84 points only at 47,962.54 level.
Traded volumes stood at 639 million shares where WTL (down 5.4 percent), PACE (up 17.1 percent), SILK (down 6.8 percent), TPL (up 2.8 percent) and GGGL (down 4.8 percent) cumulatively contributed 34 percent to the total volumes.
Finance Minister Shaukat Tarin directed the Privatization Commission and the Ministry of Petroleum to further examine the issue of divestment of government share in the Mari Petroleum Limited and come up with a comprehensive proposal during the next Cabinet Committee on Privatization (CCoP) meeting. MARI (down 0.1 percent) closed in red zone in the trading session.
A rally in cement stocks was witness, where DCL (up 3.7 percent), CHCC (up 1.8 percent), KOHC (up 1.0 percent), LUCK (up 0.4 percent) and FLYNG (up 1.5 percent) closed in the green zone.
From the steel sector CSAP (up 5.0 percent), AGHA (up 0.1 percent), ITTEFAQ (up 0.4 percent), ASTL (up 0.5 percent) and INIL (up 0.3 percent) gained to close higher on back of the rumors that the long steel manufacturers raised the prices of rebar by Rs5k/mt.
Copyright Business Recorder, 2021