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KARACHI: Pakistan Stock Exchange (PSX) Thursday closed positive owing to strong corporate financial results and recovery in Pak rupee against the dollar.

BRIndex100 gained 10.27 points or 0.22 percent to close at 4,765.07 points compared to 4,754.80 points a day earlier. It touched an intraday high of 4,791.72 points and an intraday low of 4,747.34 points. Total volume at BRIndex100 was 174.370 million shares.

BRIndex30 opened at 20,615.82 points and finally closed at 20,615.59 points, which was 0.23 points lower than previous close. It touched an intraday high of 20,755.22 points and an intraday low of 20,479.79 points. Total volume at BRIndex30 was 122.951 million shares.

The KSE-100 Index gained 193.49 points to settle at 45,985.41 points up from 45,792 points Wednesday. Trading volume at ready counter surged to 229.577 million shares on Thursday compared to 180.4 million on Wednesday.

Market capitalization rose by Rs 41 billion to Rs 7.930 trillion. Out of total 351 active scrips, 167 closed in positive and 166 in negative while the value of 18 stocks remained unchanged.

Analysts said that stocks showed sharp recovery on reports of Saudi Govt approving $3 billion financing and $1.2 billion deferred oil payment facility for budgetary support and Pak-IMF agreement over use of $2.78 billion Covid support fund ahead of resumption of EFF.

In addition, strong financial results, major recovery in rupee parity and higher global crude oil prices played a catalyst role in bullish close, they added.

Merit Pack was the volume leader with 31.83 million shares and it closed at Rs 2.01 followed by Hum Network that closed at Rs 6.98 with 22.25 million shares. World Call Telecom ranked third with 10.659 million shares and its share prices closed at Rs 2.34.

Colgate Palmolive and Nestle Pakistan were the top gainers and increased by Rs 177.25 and Rs 160.00 respectively to close at Rs 2,667.25 and Rs 5,880.00 respectively. Blessed Tex and Al-Abbas Sugar were the top losers declining by Rs 37.40 and Rs 23.97 respectively to close at Rs 461.34 and Rs 295.73.

BR Automobile Assembler Index increased by 69.08 points or a 0.82 percent to close at 8,472.45 points with a net positive change of total turnover of 3.214 million shares. BR Cement Index closed at 6,074.68 points with a net positive change of 164.75 points or a percentage change of 2.79 and a total turnover of 29.334 million shares.

BR Commercial Banks Index gained 31.8 points to settle at 10,093.51 points with a total turnover of 16.648 million shares. BR Power Generation and Distribution Index closed at 5,560.44 points with a net positive change of 6.29 points or a percentage change of 0.11 and a total turnover of 5,805,025.

BR Oil and Gas Index closed at 3,882.36, up by 9.8 points or a percentage change of 0.25 with total turnover of 5,288,192. BR Tech. & Comm. Index closed at 4,215.85 with a net negative change of 15.3 points or a percentage change of 0.36 and overall 51,306,992 shares were traded.

Analysts said that Pakistan equities closed positive. Market opened on a positive note continuing its Wednesday's positive momentum amid low volumes.

According to Topline, on the corporate front, LUCK announced its 1QFY22 EPS at Rs20.5, which is higher than industry expectations, Further SYS announced its 3Q2021 EPS at Rs7.53, PSO announced its 1QFY22 EPS Rs25.5, FCCL announced its 1QFY22 EPS at Rs0.98 and PSMC announced its 3Q2021 EPS Rs12.1.

Copyright Business Recorder, 2021

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