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KARACHI: Pakistan Stock Exchange Thursday witnessed a positive trend and closed on strong positive note on the back of fresh buying in various sectors.

The benchmark KSE-100 Index increased by 182.80 points or 0.44 percent and closed at 41,735.96 points. The index hit 41,997.22 points, however closed on slightly low level due to profit-taking in certain stocks.

Trading activity also improved as total daily volumes on ready counter increased to 235.353 million shares as compared to 151.126 million shares traded Wednesday while total daily traded value on ready counter increased to Rs 5.473 billion against previous Rs 4.487 billion.

BRIndex100 gained 14.95 points or 0.36 percent to close at 4,130.28 points with total daily turnover of 199.806 million shares.

BRIndex30 inched up by 120.09 points or 0.81 percent to close at 14,895.06 points with total daily trading volumes of 152.382 million shares.

The market capitalization increased by Rs 26 billion to Rs 6.973 trillion. Out of total 328 active scrips, 178 closed in positive and 120 in negative while the value of 30 stocks remained unchanged.

TPL Properties was the volume leader with 31.801 million shares and gained Rs 0.66 to close at Rs 19.54 followed by WorldCall Telecom that lost Rs 0.05 to close at Rs 1.44 with 28.278 million shares. Unity Foods closed at Rs 20.72, up Rs 0.27 with 16.821 million shares.

Sapphire Fiber and Rafhan Maize were the top gainers increasing by Rs 50.00 and Rs 44.00 respectively to close at Rs 1150.00 and Rs 9999.00 while Unilever Foods and Nestle Pakistan were the top losers declining by Rs 100.00 and Rs 24.90, respectively to close at Rs 24,800.00 and Rs 5775.10.

Mubashir Anis Naviwala at JS Global Capital said that bulls pulled the KSE-100 index to an intraday high of 41,995, up 441 points, however profit taking across the board eventually led the index to close at 41,736, up 183 points.

Traded volumes stood at 235 million shares where TPLP (up 3.5 percent), WTL (down 3.4 percent), UNITY (up 1.3 percent), HASCOL (down 9.5 percent) and GGL (up 1.3 percent) were the major volume leaders.

BR Automobile Assembler Index gained 56.69 points or 0.59 percent to close at 9,628.68 points with total turnover of 968,499 shares. BR Cement Index inched up by 8.77 points or 0.22 percent to close at 4,081.34 points with 9.705 million shares.

BR Commercial Banks Index lost 28.75 points or 0.32 percent to close at 9,090.57 points with 11.234 million shares.

BR Power Generation and Distribution Index surged by 68.05 points or 1.3 percent to close at 5,299.15 points with 3.290 million shares.

BR Oil and Gas Index added 30.0 points or 0.82 percent to close at 3,696.84 points with 24.691 million shares.

BR Tech. & Comm. Index increased by 37.87 points or 1.17 percent to close at 3,279.77 points with 51.631 million shares. Ahsan Mehanti at Arif Habib Corporation said that stocks closed bullish led by select scrips on pre-budget speculations and gains on NEC approval on 5.0 percent growth target set for FY23. Oil stocks outperformed on surging global crude oil prices. Banking sector remained in pressure on Moody’s negative outlook for 5 banks.

He said reports of Rs 2.184 trillion national development outlay proposed for federal budget FY23 played a catalyst role in bullish close.

Copyright Business Recorder, 2022

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