Tech sector leads the way as KSE-100 gains 204 points

Boosted by tech shares, the KSE-100 broke its losing streak to finish over 200 points higher, but failed to cross the 47,000 level with volumes also inching up as well at the Pakistan Stock Exchange (PSX) on Thursday.

At close, the KSE-100 finished with a gain of 203.74 points or 0.44% to settle at 46,920.46.

The benchmark index gained 241.65 points, taking the KSE-100 to an intra-day high of 46,958.37. However, the 47,000 level continued to elude.

“Sentiment at the bourse improved after PKR started recovering against USD and posted partial gains in the inter-bank market after supposed SBP intervention,” said Arif Habib Limited in its post-market comment.

Ending its five-day losing streak, the Pakistani rupee also gained 0.56% against the US dollar in the inter-bank market, closing at 168.18 on Thursday.

Rupee breaks losing streak, gains 0.56% against the US dollar

On the results front, Nishat Power Ltd posted a profit after tax of Rs556 million for an EPS of Rs1.57 during 4QFY21, down by 49% Year on Year compared to Rs1,086mn and an EPS of Rs3.07 announced during 4QFY20.

KSE-100 continues downward slide, registers another 175-point fall

On Thursday, sectors driving the benchmark KSE-100 index north included technology and communication (85.01 points), oil and gas exploration (52.26 points) and banking (43.28 points).

Volume on the all-share index increased from 332.79 million on Wednesday to 405.18 million on Thursday. The value of shares traded also improved during the session, amounting to Rs16.50 billion from Rs11.44 billion.

Service Fabrics (R) was the volume leader with 61.63 million shares, followed by WorldCall Telecom with 44.9 million shares, and TRG Pakistan Limited 32.3 million shares.

Shares of 518 companies were traded on Thursday, of which 275 registered an increase, 222 recorded a fall, while 21 remained unchanged.