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KARACHI: Pakistan Stock Exchange on Friday witnessed another bullish session on the back of fresh buying, mainly in oil & gas and communications sectors.

The market opened in green zone, however witnessed selling pressure during mid-session due to profit-taking in some stocks. The market rebounded in the second session and closed on positive note.

The benchmark KSE-100 Index increased by 191.68 points or 0.45 percent and crossed 43,000 psychological level to close at 43,092.95 points. The index hit 43,122.57 points intraday high and 42,805.09 points intraday low.

Trading activity however remained low as total daily volumes on ready counter decreased to 232.788 million shares as compared to 293.900 million shares traded on Thursday while total daily traded value on ready counter declined to Rs 7.625 billion against previous session’s Rs 10.212 billion.

BRIndex100 gained 33.06 points or 0.77 percent to close at 4,335.31 points with total daily turnover of 195.296 million shares.

BRIndex30 surged by 363.34 points or 2.27 percent to close at 16,363.62 points with total daily trading volumes of 124.116 million shares.

F oreign investors also remained net buyers of shares worth $770,778. Total market capitalization increased by Rs 51 billion to Rs 6.897 trillion. Out of total 341 active scrips, 172 closed in positive and 142 in negative while the value of 27 stocks remained unchanged.

Cnergyico PK was the volume leader with 21.136 million shares and inched up by Rs 0.04 to close at Rs 5.13 followed by WorldCall Telecom that lost Rs 0.04 to close at Rs 1.55 with 17.903 million shares. TPL Properties gained Rs 0.71 to close at Rs 19.22 with 15.102 million shares.

Nestle Pakistan and Pak Tobacco were the top gainers increasing by Rs 249.00 and Rs 39.33 respectively to close at Rs 5900.00 and Rs 939.33 while Bata Pak and Pak Services were the top losers declining by Rs 99.00 and Rs 62.25 respectively to close at Rs 1901.00 and Rs 767.75.

An analyst at Topline Securities said that the KSE-100 Index largely traded in positive zone during the trading session to close at 43,093 level, up by 0.45 percent.

Major contribution to the index came from TRG, OGDC, PPL, PSO and NESTLE, as they cumulatively contributed 256 points to the index, on the flip side PSEL, HUBC, FABL, BAFL and THALL as they cumulatively lost value to weigh down on the index by 61 points.

BR Automobile Assembler Index lost 17.24 points or 0.19 percent to close at 9,066.66 points with total turnover of 10.209 million shares.

BR Cement Index decreased by 12.61 points or 0.28 percent to close at 4,572.66 points with 6.793 million shares.

BR Commercial Banks Index inched down by 8.66 points or 0.1 percent to close at 8,560.98 points with 22.939 million shares.

BR Power Generation and Distribution Index closed at 6,944.65 points, down 15.77 points or 0.23 percent with 7.590 million shares.

BR Oil and Gas Index increased by 86.39 points or 2.22 percent to close at 3,972.05 points with 46.496 million shares.

BR Tech. & Comm. Index surged by 120.12 points or 2.68 percent to close at 4,609.21 points with 34.813 million shares.

“Yet another positive day was witnessed at the PSX,” an analyst at Arif Habib Limited said.

The market opened in the positive territory although lackluster activity was noticed which led the index to lose 96.39 points at the close of the opening trading session. However, the benchmark KSE-100 did rebound once the trading resumed as investors resurfaced following the Finance Minister’s announcement of a $13 billion package from China and Saudi Arabia. Volumes were stable overall, while healthy activity was observed in the Oil & Exploration Companies.

Sectors contributing to the performance include E&P (up 129.3 points), Technology and Communication (up 98.4 points), OMC (up 22.8 points), Tobacco (up 13.1 points) and Food & Personal Care Products (up 12.8 points).

Copyright Business Recorder, 2022

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