KARACHI: Bulls defeated bears as the Pakistan Stock Exchange remained in green zone throughout the day and closed on strong positive note with healthy gains Monday. The benchmark KSE-100 Index hit
45,462.62 points intra-day high level and closed at 45,374.68 points, with healthy gains of 296.77 points or 0.66 percent. The trading volumes on ready counter stood at 251.682 million shares as compared to 258.912 million shares traded on previous session while total traded value on ready counter increased to Rs 8.563 billion from previous session’s Rs 8.125 billion.
BRIndex100 gained 38.99 points or 0.84 percent to close at 4,662.78 points with total daily turnover of 233.215 million shares.
BRIndex30 increased by 435.59 points or 2.43 percent to close at 18,355.06 points with total daily trading volumes of 183.766 million shares.
Foreign investors however remained on selling side and withdrew $1.054 million from local equity market. Total market capitalization increased by Rs 40 billion to Rs 7.755 trillion. Out of total 360 active scrips, 237 closed in positive and only 96 in negative while the value of 27 stocks remained unchanged.
Treet Corp was the volume leader with 22.937 million shares and increased by Rs 2.15 to close at Rs 40.69 followed by WorldCall Telecom that closed at Rs 2.24, up Rs 0.03 with 22.493 million shares. TRG Pak gained Rs 1.77 to close at Rs 88.93 with 18.123 million shares.
Colgate Palmolive and Rafhan Maize were the top gainers increasing by Rs 162.98 and Rs 150.00 respectively to close at Rs 2447.99 and Rs 9750.00 while Sapphire Fiber and Philip Morris Pak were the top losers declining by Rs 22.31 and Rs 20.00, respectively to close at Rs 838.67 and Rs 750.00.
An analyst at Arif Habib Limited said that bulls ruled over the bears as Pakistan eyes $3b loan from China. Market opened on a positive note and stayed in the green zone throughout the day. 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. In the last trading hour, profit taking was witnessed due to rising Covid-19 cases.
Sectors contributing to the performance include Banks (up 65.0 points), Fertilizer (up 40.9 points), Technology (up 32.9 points), E&P (up 29.6 points) and Chemical (up 22.6 points).
BR Automobile Assembler Index gained 13.96 points or 0.16 percent to close at 8,507.28 points with total turnover of 1.026 million shares.
BR Cement Index added 38.63 points or 0.68 percent to close at 5,722.73 points with 5.366 million shares.
BR Commercial Banks Index inched up by 62.6 points or 0.62 percent to close at 10,188.92 points with 15.316 million shares.
BR Power Generation and Distribution Index closed at 6,160.50 points, up 15.43 points 0.25 percent with 6.961 million shares.
BR Oil and Gas Index increased by 28.97 points or 0.75 percent to close at 3,899.23 points with 5.270 million shares.
BR Tech. & Comm. Index surged by 45.84 points or 1.2 percent to close at 3,850.09 points with 75.205 million shares.
An analyst at Topline Securities said that Pakistan equities closed positive where the benchmark KSE-100 Index settled at 45,375 level, up 0.66 percent.
The market remained positive throughout the day making intraday high of plus 384 points as investors cheered as news flow related to Prime Minister Imran Khan’s visit for Beijing on February 03, 2022 on account of setting up on a loan to the tune of $3.0 billion to stabilize Pakistan foreign exchange reserves.
Major contributors in the trading session were BAHL, COLG and TRG cumulatively added 104 points in benchmark KSE-100 Index.
Copyright Business Recorder, 2022
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