KARACHI: Pakistan Stock Exchange on Thursday witnessed bullish trend and closed on strong positive note with healthy gains on the back of aggressive buying on available attractive low levels.
The market opened on positive note and remained in green zone throughout the day as the investors opted for value hunting across the board.
The benchmark KSE-100 index surged by 304.00 points or 0.76 percent and crossed 40,000 psychological level to close at 40,276.64 points. During the session, the index hit 40,628.67 points intra-day high level however closed at slightly lower level due to profit taking in some stocks.
Trading activities also improved significantly as total daily volumes on ready counter increased to 251.270 million shares as compared to 121.575 million shares traded on Wednesday while total daily traded value on ready counter increased to Rs 9.347 billion against previous day’s Rs 4.149 billion.
BRIndex100 increased by 40.97 points or 1.04 percent to close at 3,983.14 points with total daily turnover of 236.015 million shares.
BRIndex30 gained 106.73 points or 0.74 percent to close at 14,576.60 points with total daily trading volumes of 183.143 million shares.
The foreign investors also remained net buyers of shares worth $323,529. Total market capitalization increased by Rs 38 billion to Rs 6.789 trillion. Out of total 344 active scrips, 215 closed in positive and 104 in negative while the value of 25 stocks remained unchanged.
WorldCall Telecom was the volume leader with 32.615 million shares however lost Re 0.03 to close at Rs 1.15 followed by TPL Properties that gained Re 0.69 to close at Rs 17.96 with 20.376 million shares. Lotte Chemical increased by Rs 1.73 to close at Rs 30.23 with 16.952 million shares.
Bata Pak and Mehmood Textile were the top gainers increasing by Rs 150.00 and Rs 53.10 respectively to close at Rs 2,172.00 and Rs 761.21 while Indus Motor Co and Premium Textile were the top losers declining by Rs 74.68 and Rs 54.51 respectively to close at Rs 951.42 and Rs 672.39.
An analyst at Arif Habib Limited said the PSX witnessed a positive session. The KSE-100 index traded in the green zone throughout the day as investors opted for value hunting across the board.
Rally was observed in the IT sector as IT exports have surged to $2.616 billion (FY 2021-22). Investors’ participation remained healthy as hefty volumes were witnessed in the main board and 3rd tier stocks.
Sectors contributing to the performance include Banks (up 154.1 points), Technology (up 93.3 points), E&P (up 64.9 points), Power (up 24.7 points) and OMCs (up 18.5 points).
BR Automobile Assembler Index declined by 147.68 points or 1.62 percent to close at 8,949.32 points with total turnover of 1.584 million shares.
BR Cement Index gained 15.65 points or 0.42 percent to close at 3,751.12 points with 9.450 million shares.
BR Commercial Banks Index increased by 144.53 points or 1.75 percent to close at 8,397.36 points with 12.870 million shares.
BR Power Generation and Distribution Index inched up by 55.76 points or 1.05 percent to close at 5,376.26 points with 9.942 million shares.
BR Oil and Gas Index added 50.77 points or 1.35 percent to close at 3,799.26 points with 10.658 million shares.
BR Tech & Comm Index surged by 113.94 points or 3.41 percent to close at 3,457.37 points with 72.519 million shares.
Waqar Iqbal at JS Global Capital said that the KSE-100 index remained positive due to a technical rebound and anticipation of lower Current Account Deficit numbers.
A total of 251 million shares were traded where WTL (down 2.5 percent), TPLP (up 4.0 percent), LOTCHEM (up 6.1 percent), TRG (up 6.1 percent) and CNERGY (up 0.6 percent) were the volume leaders.
Copyright Business Recorder, 2022
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