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KARACHI: Fresh buying at available attractive low levels Tuesday supported the Pakistan Stock Exchange to close on positive note with healthy gains.

The benchmark KSE-100 Index hit 43,793.57 points intraday high and 43,325.59 points intraday low level before closing at 43,719.82 points with a net gain of 352.93 points or 0.81 percent.

Trading activity also improved as total daily volume on ready counter increased to 189.041 million shares as compared to 115.118 million shares traded on Monday while total daily traded value on ready counter increased to Rs 4.689 billion against previous day’s Rs 3.645 billion.

BRIndex100 increased by 48.67 points or 1.13 percent to close at 4,361.75 points with total daily turnover of 161.934 million shares.

BRIndex30 surged by 355.03 points or 2.34 percent to close at 15,509.23 points with total daily trading volumes of 119.994 million shares.

PSX witnesses drawdown

Foreign investors however remained net sellers of shares worth $761,448. Total market capitalization increased by Rs 33 billion to Rs 7.427 trillion. Out of total 346 active scrips, 211 closed in positive and 105 in negative while the value of 30 stocks remained unchanged.

Telecard Limited was the volume leader with 19.565 million shares and increased by Rs 0.95 to close at Rs 11.36 followed by TPL Properties that increased by Rs 1.02 to close at Rs 22.73 with 15.289 million shares. Treet Corp closed at Rs 30.99, up Rs 1.01 with 13.734 million shares.

Unilever Foods and Bata Pak were the top gainers increasing by Rs 499.00 and Rs 89.11 respectively to close at Rs 21,899.00 and Rs 2,177.99 while Rafhan Maize and Ismail Industries were the top losers declining by Rs 61.00 and Rs 22.14 respectively to close at Rs 11,800.00 and Rs 527.85.

“Another lackluster session was observed due to political noise,” an analyst at Arif Habib Limited said.

The market opened in the green zone and stayed positive throughout the day. Main board activity continued to remain sluggish, whereas market witnessed hefty volumes in the 3rd-tier stocks. In the last trading hours buying was observed across the board.

Sectors contributing to the performance include Cement (up 75.9 points), Power (up 68.1 points), Technology (up 55.3 points), Banks (up 39.5 points) and OMC’s (up 26.49 points).

BR Automobile Assembler Index gained 77.67 points or 0.89 percent to close at 8,853.28 points with total turnover of 446,307 shares.

BR Cement Index increased by 99.18 points or 1.98 percent to close at 5,111.33 points with 5.757 million shares.

BR Commercial Banks Index inched up by 37.39 points or 0.38 percent to close at 9,834.80 points with 11.981 million shares.

BR Power Generation and Distribution Index surged by 148.87 points or 2.74 percent to close at 5,573.96 points with 5.426 million shares.

BR Oil and Gas Index lost 11.73 points or 0.3 percent to close at 3,867.43 points with 15.310 million shares.

BR Tech. & Comm. Index closed at 3,459.79 points, up 71.11 points or 2.1 percent with 52.321 million shares.

An analyst at Topline Securities said that Pakistan equities closed on a positive note as benchmark KSE-100 Index settled at 43,719 level, up 0.81 percent. The market open on a positive note over decline in international oil prices as market make an intraday high of 426 points. Major contributors to the trading session were HUBC, LUCK, TRG and SYS cumulatively added 150 points in KSE-100 Index further investor’s interest also witnessed in Financial Sector where HBL, MCB and BAHL closed higher.

Copyright Business Recorder, 2022

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