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KARACHI: Pakistan Stock Exchange (PSX) on Tuesday witnessed bullish trend on the back of aggressive buying in almost all sectors on anticipation of positive outcomes from the prime minister’s visit to China.

The market opened on positive note and remained bullish throughout the session and closed in green zone with healthy gains.

The benchmark KSE-100 index surged by 544.03 points or 1.32 percent to close near its intra-day high level at 41,808.69 points. The intra-day high level was 41,833.43 points.

Trading activities also improved significantly as total daily volumes on ready counter increased to 192.142 million shares as compared to 97.476 million shares traded on Monday while total daily traded value on ready counter increased to Rs 6.311 billion against previous session’s Rs 2.501 billion.

BRIndex100 added 73.26 points or 1.79 percent to close at 4,166.32 points with total daily turnover of 169.792 million shares.

BRIndex30 increased by 485.05 points or 3.25 percent to close at 15,405.83 points with total daily trading volumes of 127.045 million shares.

The foreign investors however remained net sellers of shares worth $193,901. Total market capitalization increased by Rs 72 billion to Rs 6.735 trillion. Out of total 356 active scrips, 250 closed in positive and only 82 in negative while the value of 24 stocks remained unchanged.

WorldCall Telecom was the volume leader with 33.117 million shares and gained Rs 0.15 to close at Rs 1.48 followed by Cnergyico PK that inched up by Rs 0.11 to close at Rs 4.75 with 11.629 million shares. TRG Pak increased by Rs 8.20 to close at Rs 118.07 with 8.202 million shares.

Nestle Pakistan and Goodluck Industries were the top gainers increasing by Rs 100.00 and Rs 44.79 respectively to close at Rs 5,800.00 and Rs 642.00 while Colgate Palmolive and Premium Textile were the top losers declining by Rs 39.58 and Rs 33.24 respectively to close at Rs 1,999.42 and Rs 659.90.

“A positive session was witnessed at the PSX,” an analyst at Arif Habib Limited said. In anticipation of positive outcomes from the prime minister’s visit to China and the international coal prices plummeting, the bulls made a comeback after continuous dry sessions, reaching an intraday high of 568 points and giving investors much needed confidence. Main board volumes improved dramatically yet 3rd tier stocks continued to lead the volume board.

Sectors contributing to the performance include Technology and Communication (up 131.2 points), Power Generation and Distribution (up 41.8 points), Cement (up 83.7 points), E&P (up 64.7 points) and Fertilizer (up 42.6 points).

BR Automobile Assembler Index lost 5.65 points or 0.06 percent to close at 8,788.42 points with total turnover of 4.362 million shares.

BR Cement Index increased by 114.04 points or 2.6 percent to close at 4,508.35 points with 15.550 million shares.

BR Commercial Banks Index gained 29.59 points or 0.36 percent to close at 8,219.06 points with 11.021 million shares.

BR Power Generation and Distribution Index added 104.99 points or 1.61 percent to close at 6,631.08 points with 8.284 million shares.

BR Oil and Gas Index closed at 3,698.37 points, up 64.74 points or 1.78 percent with 11.186 million shares.

BR Tech & Comm Index surged by 181.64 points or 4.35 percent to close at 4,356.25 points with 57.565 million shares.

An analyst at Topline Securities said that Pakistan equities closed positive where benchmark KSE-100 Index settled at 41,808 levels, up 1.32 percent.

The day kicked off on a positive note as initial gains were led by Cements Sector over decline in international coal prices where LUCK, MLCF, DGKC and PIOC closed higher. However in the second half investors’ interest also witnessed in technology sector where TRG and NETSOL hit its upper limit, further AVN and SYS also closed higher.

Traded volume and value for the day stood at 190.53mn shares (up 95%) and Rs6.29bn (up 1.5times) on DoD basis respectively. WTL was today’s volume leader with 22.93mn shares.

Copyright Business Recorder, 2022

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