KARACHI: Pakistan Stock Exchange Monday witnessed a positive trend due to fresh buying in various sectors.
The benchmark KSE-100 Index gained 83.03 points or 0.20 percent and closed at 41,211.70 points. The index hit 41,402.91 points intraday high and 41,092.07 points intra-day low.
Trading activity remained low as total daily volumes on ready counter decreased to 185.369 million shares as compared to 205.699 million shares traded on last Friday while total daily traded value on ready counter declined to Rs 9.382 billion against last Friday’s Rs 9.499 billion.
BRIndex100 inched up by 12.43 points or 0.3 percent to close at 4,118.61 points with total daily turnover of 163.457 million shares.
BRIndex30 closed at 15,622.20 points, up 41.68 points or 0.27 percent with total daily trading volumes of 91.911 million shares.
Foreign investors also remained net buyers of shares worth $695,611. Total market capitalization however declined by Rs 7 billion to Rs 6.775 trillion. Out of total 344 active scrips, 181 closed in negative and 140 in positive while the value of 23 stocks remained unchanged.
Hub Power Co was the volume leader with 30.842 million shares and surged by Rs 5.24 to close at its upper circuit level at 75.15 followed by TRG Pak that gained Rs 0.72 to close at Rs 129.58 with 15.993 million shares. HBL declined by 1.52 to close at Rs 68.19 with 13.165 million shares. Sapphire Fiber and Sapphire Textile were the top gainers increasing by Rs 84.01 and Rs 49.00 respectively to close at Rs 1,233.00 and Rs 1,149.00 while Bata Pak and Colgate Palmolive were the top losers declining by Rs 95.00 and Rs 26.49 respectively to close at Rs 2,300.00 and Rs 2,103.51.
An analyst at Arif Habib Limited said that the PSX experienced a positive day, as investor’s accumulated high dividend yield stocks and ongoing strengthening of Pak rupee against the US dollar. The benchmark KSE-100 Index opened in the green zone and maintained that momentum throughout the majority of the trading session, reaching an intraday high of 275.06 points after HUB Power Company announced an outstanding payout that boosted investor confidence.
Sectors contributing to the performance include Power (up 136.2 points), Technology (up 30.9 points), OMCs (up 19.9 points), Vanaspati and Allied (up 10.8 points) and Chemical (up 10.4 points).
BR Automobile Assembler Index added 4.91 points or 0.05 percent to close at 9,091.94 points with total turnover of 1.966 million shares.
BR Cement Index fell by 18.35 points or 0.41 percent to close at 4,448.09 points with 6.206 million shares.
BR Commercial Banks Index decreased by 37.25 points or 0.45 percent to close at 8,182.34 points with 18.711 million shares.
BR Power Generation and Distribution Index surged by 300 points or 5.15 percent to close at 6,125.44 points with 39.448 million shares.
BR Oil and Gas Index inched up by 0.2 points or 0.01 percent to close at 3,670.68 points with 13.299 million shares.
BR Tech. & Comm. Index closed at 4,138.84 points, up 33.64 points or 0.82 percent with 35.687 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed higher led by selected scrips on surging global crude oil prices and rupee recovery.
He said speculations over FATF for exit from grey list on October 17 meeting, and lower inflation data at 23.2 percent on YoY for September’22 played a catalyst role in positive close.
Copyright Business Recorder, 2022
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