AGL 6.80 Increased By ▲ 0.08 (1.19%)
ANL 9.22 Decreased By ▼ -0.53 (-5.44%)
AVN 74.20 Decreased By ▼ -1.30 (-1.72%)
BOP 5.43 Decreased By ▼ -0.01 (-0.18%)
CNERGY 4.89 Decreased By ▼ -0.06 (-1.21%)
EFERT 78.00 Decreased By ▼ -0.05 (-0.06%)
EPCL 54.70 Decreased By ▼ -0.70 (-1.26%)
FCCL 14.93 Decreased By ▼ -0.37 (-2.42%)
FFL 6.34 Decreased By ▼ -0.14 (-2.16%)
FLYNG 7.12 Decreased By ▼ -0.03 (-0.42%)
GGGL 10.56 Increased By ▲ 0.01 (0.09%)
GGL 16.43 Decreased By ▼ -0.12 (-0.73%)
GTECH 8.21 Decreased By ▼ -0.21 (-2.49%)
HUMNL 6.35 Decreased By ▼ -0.06 (-0.94%)
KEL 2.95 Decreased By ▼ -0.04 (-1.34%)
LOTCHEM 28.60 Decreased By ▼ -0.25 (-0.87%)
MLCF 27.80 Decreased By ▼ -0.50 (-1.77%)
OGDC 75.30 Decreased By ▼ -0.20 (-0.26%)
PAEL 15.80 Increased By ▲ 0.26 (1.67%)
PIBTL 5.60 Increased By ▲ 0.24 (4.48%)
PRL 17.22 Decreased By ▼ -0.10 (-0.58%)
SILK 1.06 Increased By ▲ 0.01 (0.95%)
TELE 10.30 Decreased By ▼ -0.20 (-1.9%)
TPL 8.00 No Change ▼ 0.00 (0%)
TPLP 20.80 No Change ▼ 0.00 (0%)
TREET 22.60 Decreased By ▼ -0.40 (-1.74%)
TRG 128.85 Increased By ▲ 6.15 (5.01%)
UNITY 22.50 Decreased By ▼ -0.08 (-0.35%)
WAVES 12.00 Increased By ▲ 0.70 (6.19%)
WTL 1.13 Decreased By ▼ -0.01 (-0.88%)
BR100 4,100 Decreased By -4 (-0.1%)
BR30 15,533 Increased By 64.6 (0.42%)
KSE100 41,129 Increased By 114.8 (0.28%)
KSE30 15,337 Increased By 24.6 (0.16%)
Follow us

KARACHI: Pakistan Stock Exchange on Wednesday witnessed a bullish trend and closed on strong positive note with healthy gains on the back of aggressive buying in almost all sectors.

The market opened on positive note and remained in the green zone throughout the session with healthy trading activities.

The benchmark KSE-100 Index hit 42,779.13 points intraday high level and closed at 42,494.85 points, with a net gain of 398.61 points or 0.95 percent.

Total daily trading volumes on ready counter stood at 373.184 million shares as compared to 406.680 million shares traded on previous session while total daily traded value on the ready counter increased to Rs 13.231 billion against previous session’s Rs 11.636 billion.

BRIndex100 increased by 57.48 points or 1.37 percent to close at 4,240.51 points with total daily turnover of 354.384 million shares.

BRIndex30 surged by 160 points or 1.04 percent to close at 15,592.70 points with total daily trading volumes of 244.773 million shares.

Foreign investors however remained on the selling side and withdrew $1.618 million from the local capital market. Total market capitalization increased by Rs 42 billion to Rs 7.089 trillion. Out of total 350 active scrips, 203 closed in positive and 123 in negative while the value of 24 stocks remained unchanged.

Cnergyico PK was the volume leader with 33.748 million shares however lost Rs 0.04 to close at Rs 5.47 followed by Pak Refinery that gained Rs 0.09 to close at Rs 18.10 with 27.682 million shares. TPL Properties closed at Rs 20.07, up Rs 0.15 with 24.220 million shares.

Allawasaya Textile and Sanofi-Aventis were the top gainers increasing by Rs 291.53 and Rs 91.50 respectively to close at Rs 4,189.98 and Rs 1,311.50 while Rafhan Maize and Nestle Pakistan were the top losers declining by Rs 683.33 and Rs 130.00, respectively to close at Rs 10,400.00 and Rs 6,055.00.

An analyst at Arif Habib Limited said that 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. The E&P sector remained in the limelight following the rumors of circular debt resolution by the government. Investor participation remained healthy as hefty volumes were witnessed in the main board and 3rd tier stocks.

Sectors contributing to the performance include Banks (up 156.4 points), E&P (up 108.0 points), Fertilizer (up 56.1 points), Power (up 55.0 points) and Technology (up 42.7 points).

BR Automobile Assembler Index gained 56.03 points or 0.59 percent to close at 9,575.38 points with total turnover of 3.399 million shares.

BR Cement Index lost 10.99 points or 0.26 percent to close at 4,248.62 points with 18.392 million shares.

BR Commercial Banks Index increased by 143.12 points or 1.63 percent to close at 8,938.26 points with 19.213 million shares.

BR Power Generation and Distribution Index surged by 137.57 points or 2.46 percent to close 5,725.50 points with 24.141 million shares.

BR Oil and Gas Index added 72.73 points or 1.86 percent to close at 3,973.22 points with 40.718 million shares.

BR Tech. & Comm. Index closed at 3,702.92 points, up 52.73 points or 1.44 percent with 55.515 million shares.

“Continuing its momentum the KSE-100 Index gained 399 points to close at 42,495 level, up by 0.95 percent and this positivity in market can be attributed to further decline in crude oil prices which will ease pressure on external account due to lower import bill going forward,” an analyst at Topline Securities said.

PPL, OGDC and NBP were up by 4.3 percent, 2.5 percent and 5.9 percent respectively on account of news that Finance Minister has directed that a meeting will be held immediately to consider the matter of state-owned enterprises (SOEs) declaring healthy dividends as it would “result in income and taxation revenue for the government.”

Top contribution to the index came from PPL, HBL, HUBC, OGDC and MEBL, as they cumulatively contributed 199 points to the index.

Copyright Business Recorder, 2022

Comments

Comments are closed.