KARACHI: The Pakistan Stock Exchange on the last trading day of the week closed higher on easing political noise.
On Friday, the benchmark KSE-100 Index traded between an intraday high of 350 points and intraday low of 291 points to close at 40,077.30 points, up by 245.55 points.
BRIndex100 gained 34.92 points or 0.89 percent to close at 3,953 points on Friday compared to 3,918 points on Thursday.
It touched an intraday high of 3,967.68 points and an intraday low of 3,885.34 points with total volume of 156.629 million shares. WorldCall Telecom was the most traded company in BRIndex100 with a volume of 20 million.
BRIndex30 opened at 14,053.43 points. It touched an intraday high of 14,409.28 points and an intraday low of 13,918.30 points and closed at 14,375.57 points which was 322.14 points or 2.29 percent higher than previous close. Total volume at BRIndex30 was 116.75 million.
The market capitalization rose by Rs 45 billion to Rs 6.754 trillion up from Rs 6.709 trillion. Daily volume on the ready counter increased by 8.23 percent from 158 million shares to 171 million shares. Out of 317 active scrips, 226 closed in positive and 72 in negative while the value of 19 stocks remained unchanged.
Major contributions to the index came from SYS, ENGRO, EFERT, OGDC & TRG, as they cumulatively added 139 points to the index. On the flip side SNGP, HBL, UBL, LUCK & MCB lost value to weigh down on the Index by -112 points.
WorldCall Telecom was the volume leader with 20 million shares and closed at Rs 1.20 followed by Unity Foods that closed at Rs 17.77 with 19 million shares. TPL Properties ranked third with 17 million shares and closed at Rs 16.87.
Allawasaya Tex and Rafhan Maize were the top gainers increasing by Rs 218.95 and Rs 500.00 respectively to close at Rs 3,138.32 and Rs10,450.00, while Mehmood Tex and Sunrays Tex were the top losers declining by Rs 35.09 and Rs 16.26 respectively to close at Rs 570.01 and Rs 200.63.
Analysts said that stocks showed recovery in the earnings season rally at PSX as investors weighed strong data on $271 million FDIs in Jun ‘22 and easing political noise.
Post IMF staff level agreement to release IMF tranche next month, reports of surge in textile group exports in FY22 and slump in global crude oil prices likely reducing economic crises played a catalyst role in bullish close, they added.
BR Automobile Assembler Index gained 11.62 points to close at 9,331.26 points with a total turnover of 584,956. BR Cement Index increased by 39.48 points or 1.07 percent to finally close at 3,743.58 points and a total turnover was 9.537 million shares.
BR Commercial Banks Index lost 57 points to 8,271.81 points with a total turnover of 8.114 million shares. BR Power Generation and Distribution Index closed at 5,406.66 points, up by 25.05 points or a percentage change of 0.47 and a total turnover of 4.345 million.
BR Oil and Gas Index rose by 23.35 points to close at 3,739.16 points with a total turnover of 11.339 million. BR Tech. & Comm. Index closed at 3,336.68 points with a net positive change of 94.52 points or a percentage change of 2.92 and a total turnover of 33.712 million.
Copyright Business Recorder, 2022
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