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KARACHI: Pakistan Stock Exchange Tuesday closed on a positive note due to expectations of Pakistan’s exclusion from the grey list of FATF.

The market opened in red and remained under pressure in the first half, however witnessed recovery in the second half. The benchmark KSE-100 Index increased by 174.75 points or 0.43 percent and crossed 41,000 psychological level to close at 41,054.68 points. During the session the index hit 41,115.79 points intra-day high and 40,657.88 points intra-day low level.

Trading activity however remained thin as total daily volumes on ready counter decreased to 120.125 million shares as compared to 163.793 million shares traded on Monday while total daily traded value on the ready counter declined to Rs 3.363 billion against previous day’s Rs 4.352 billion.

BRIndex100 gained 28.14 points or 0.7 percent to close at 4,052.45 points with total daily turnover of 108.081 million shares.

BRIndex30 surged by 223.39 points or 1.54 percent to close at 14,768.53 points with total daily trading volumes of 75.595 million shares.

Foreign investors also remained net buyers of shares worth $34,242. Total market capitalization increased by Rs 13 billion to Rs 6.856 trillion. Out of total 315 active scrips, 163 closed in positive and 128 in negative while the value of 24 stocks remained unchanged. Unity Foods was the volume leader with 8.188 million shares however lost Rs 0.12 to close at Rs 20.05 followed by K-Electric that gained Rs 0.02 to close at Rs 2.57 with 7.421 million shares. Hum Network closed at Rs 7.16, up Rs 0.08 with 7.272 million shares.

PSX sheds 1,134 points

Unilever Foods and Siemens Pak were the top gainers increasing by Rs 1600.00 and Rs 45.02 respectively to close at Rs 24,600.00 and Rs 645.33 while Rafhan Maize and Colgate Palmolive were the top losers declining by Rs 199.00 and Rs 138.75 respectively to close at Rs 9800.00 and Rs 2111.25.

An analyst at Arif Habib Limited said that positive session was observed at PSX due to expectations of Pakistan’s exclusion from the grey list of FATF. The KSE-100 Index stayed in the green zone as investors opted for value hunting in OMC, E&P and cement sectors. Volumes remained sluggish in the main board whereas 3rd tier stocks witnessed healthy volumes.

Sectors contributing to the performance include Banks (up 52.6 points), E&P (up 43.2 points), OMC’s (up 32.1 points), Technology (up 28.4 points) and Fertilizer (up 15.6 points).

BR Automobile Assembler Index lost 14.2 points or 0.14 percent to close at 9,847.38 points with total turnover of 701,702 shares.

BR Cement Index gained 11.36 points or 0.29 percent to close at 3,988.80 points with 10.788 million shares.

BR Commercial Banks Index inched up by 47.79 points or 0.55 percent to close at 8,663.77 points with 11.283 million shares.

BR Power Generation and Distribution Index fell by 3.8 points or 0.07 percent to close at 5,227.29 points with 8.974 million shares.

BR Oil and Gas Index increased by 46.0 points or 1.26 percent to close at 3,687.34 points with 9.869 million shares.

BR Tech. & Comm. Index closed at 3,240.77 points, up 33.96 points or 1.06 percent with 20.874 million shares.

An analyst at Topline Securities said that Pakistan equities closed on a positive note where benchmark KSE-100 Index settled at 41,055 level, up 0.43 percent.

The day kicked on a negative note where market continued its Monday’s declining trend amid low volumes as market make an intraday low of 222 points.

However, market witnessed some recovery in second half where major contributors were HBL, POL, OGDC, SNGP and TRG cumulatively added 170 in KSE-100 Index.

Copyright Business Recorder, 2022

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