KARACHI: Pakistan Stock Exchange Friday witnessed a mixed trend and after moving in both directions, closed on a positive note due to fresh buying in certain stocks.
The benchmark KSE-100 Index increased by 169.48 points or 0.39 percent to close at 43,900.69 points. The KSE-100 Index hit 44,000.95 points intraday high and 43,555.05 points intraday low. Trading activity however remained low as daily volumes on the ready counter decreased to 252.204 million shares as compared to 312.071 million shares traded Thursday.
BRIndex100 gained 25.74 points or 0.57 percent to close at 4,508.85 points with a turnover of 229.214 million shares.
BRIndex30 inched up by 30.51 points or 0.17 percent to close at 18,501.30 points with total daily trading volumes of 166.586 million shares.
Foreign investors however remained net sellers of shares worth $1.971 million. Total market capitalization increased by Rs 20 billion to Rs 7.519 trillion. Out of total 327 active scrips, 180 closed in positive and 132 in negative while the value of 15 stocks remained unchanged.
WorldCall Telecom was the volume leader with 29.218 million shares however lost Rs 0.06 to close at Rs 2.15 followed by Hum Network that gained Rs 0.32 to close at Rs 6.33 with 25.964 million shares.
Bata Pak and Mehmood Textile were the top gainers increasing by Rs 142.65 and Rs 49.50 respectively to close at Rs 2044.65 and Rs 710.00 while Colgate Palmolive and Allawasaya Textile were the top losers declining by Rs 139.74 and Rs 67.38 respectively to close at Rs 2460.25 and Rs 2382.63.
An analyst at Arif Habib Limited said that the KSE-100 Index closed in the green zone as the market celebrated SBP injection of liquidity via OMO for 63 days at the rate of 9.9 percent, a signal of stability.
Market stayed volatile in the first hour of opening due to declining foreign exchange reserves and FTSE rebalancing, expectation of foreign selling spree. Soon after OMO injection news clocked in, bullish trend was observed mainly in the cement and steel sector. Main board activity remained gloomy.
On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
Moving forward, economic numbers like CPI, CAD, FX reserves along with timing of IMF program resumption will play a vital role in shaping the direction of market.
Sectors contributing to the performance include Cements (up 70 points), Commercial Banks (up 60 points), E&P (up 35 points) and Technology and Communication (up 28 points).
BR Automobile Assembler Index lost 15.22 points or 0.18 percent to close at 8,329.73 points with total turnover of 1.122 million shares.
BR Cement Index increased by 89.5 points or 1.61 percent to close at 5,645.73 points with 20.829 million shares.
BR Commercial Banks Index inched up by 61.59 points or 0.64 percent to close 9,700.24 points with 14.685 million shares.
BR Power Generation and Distribution Index fell by 10.58 points or 0.2 percent to close at 5,402.71 points with 6.525 million shares.
BR Oil and Gas Index gained 20.33 points or 0.54 percent to close at 3,769.83 points with 11.781 million shares.
BR Tech. & Comm. Index closed at 4,020.00 points, up 35.4 points or 0.89 percent with 92.971 million shares.
Copyright Business Recorder, 2021