KARACHI: Pakistan Stock Exchange witnessed mixed trend but closed on slight positive note with very low volumes as the investors remained cautious and avoided taking fresh positions in the last trading session of the week.
The benchmark KSE-100 Index hit 46,132.29 points intraday high and 45,814.64 points intraday low to close at 45,909.65 points, up 46.72 points or 0.10 percent Friday.
Trading activity remained very thin as daily volumes on ready counter decreased to 192.479 million shares as compared to 328.008 million shares traded on Thursday while total daily traded value on ready counter declined to Rs 8.892 billion against previous day’s Rs 10.509 billion.
BRIndex100 gained 7.24 points or 0.15 percent to close at 4,727.34 points with total daily turnover of 162.875 million shares.
BRIndex30 closed at 18,411.08 points, down 105.2 points or 0.57 percent with total daily trading volumes of 102.053 million shares.
Foreign investors remained net sellers of shares worth $522,618. The market capitalization increased by Rs 10 billion to Rs 7.851 trillion. Out of total 360 active scrips, 178 closed in negative and 158 in positive while the value of 24 stocks remained unchanged.
WorldCall Telecom was the volume leader with 12.792 million shares however lost Rs 0.04 to close at Rs 2.29 followed by Telecard Limited that closed at Rs 17.71, up Rs 0.26 with 9.685 million shares. Ghani Glo Hol gained Rs 0.14 to close at Rs 22.38 with 8.030 million shares.
Bhanero Textile and Sapphire Textile were the top gainers increasing by Rs 81.75 and Rs 54.50 respectively to close at Rs 1171.75 and Rs 1044.50 while Nestle Pakistan and Fazal Cloth were the top losers declining by Rs 58.33 and Rs 18.40 respectively to close at Rs 5650.00 and Rs 261.50.
An analyst at Topline Securities said that the KSE-100 Index largely remained in the positive zone during the trading session, but some profit-taking was observed in the second half as the index settled at 45,910 level, up by 0.10 percent.
Major contribution to the index came from FFC, MTL, PSO, OGDC and SHEL, as they cumulatively contributed 108 points to the index, whereas on the other hand SYS, POL, MEBL, TRG and FCCL lost value to weigh down on the index by 59 points.
BR Automobile Assembler Index increased by 116.65 points or 1.35 percent to close at 8,753.10 points with total turnover of 756,469 shares.
BR Cement Index lost 5.51 points or 0.1 percent to close at 5,770.40 points with 8.704 million shares.
BR Commercial Banks Index gained 5.91 points or 0.06 percent to close at 10,302.78 points with 10.346 million shares.
BR Power Generation and Distribution Index inched up by 9.27 points or 0.15 percent to close at 6,121.05 points with 7.902 million shares.
BR Oil and Gas Index closed at 4,001.03 points, up 17.89 points or 0.45 percent with 18.656 million shares.
BR Tech. & Comm. Index declined by 40.97 points or 1.06 percent to close at 3,812.52 points with 43.895 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed higher on speculations on financial results and strong rupee recovery on expected release of IMF tranche. Late session pressure witnessed on likely surge in local POL prices and falling FX reserves.
He said surging global crude oil prices, upbeat data on higher oil, sales in January 2021 and expectations of positive outcome of PM visit to China played a catalyst role in bullish close.
Copyright Business Recorder, 2022
Comments
Comments are closed.