KARACHI: Pakistan Stock Exchange Tuesday witnessed a positive trend due to fresh buying in certain sectors. The benchmark KSE-100 Index increased by 82.00 points or 0.20 percent and closed at 40,082.37 points. The index hit 40,204.40 points intraday high however closed at lower level due to profit-taking in some stocks.
Trading activity also improved as total volumes on ready counter increased to 87.215 million shares as compared to 64.511 million shares traded on Monday while total daily traded value on ready counter increased to Rs 3.312 billion against previous session’s Rs 2.501 billion.
BRIndex100 gained 12.77 points or 0.32 percent to close at 4,060.12 points with total daily turnover of 78.437 million shares.
BRIndex30 inched up by 12.45 points or 0.09 percent to close at 14,417.54 points with total daily trading volumes of 53.814 million shares.
Foreign investors also remained net buyers of shares worth $548,230. Total market capitalization increased by Rs 30 billion to Rs 6.137 trillion. Out of total 300 active scrips, 136 closed in positive and 134 in negative while the value of 30 stocks remained unchanged.
Telecard Limited was the volume leader with 23.781 million shares and increased by Rs 0.86 to close at Rs 8.15 followed by WorldCall Telecom that closed at previous day’s closing level of Rs 1.20 without any change with 4.170 million shares. K-Electric lost Rs 0.02 to close at Rs 2.08 with 3.769 million shares.
Unilever Foods and Rafhan Maize were the top gainers increasing by Rs 575.00 and Rs 531.49 respectively to close at Rs 18500.00 and Rs 8088.99 while Pak Services and Blessed Textile were the top losers declining by Rs 82.00 and Rs 27.74 respectively to close at Rs 1017.00 and Rs 342.25.
An analyst at Arif Habib Limited said a positive session was recorded at the PSX. The market opened in the green zone and traded in the same range during the trading session reaching an intraday high of plus 203.47 points as investors chose to be vigilant due to the ongoing political and economic uncertainty. Investors’ involvement remained dull throughout the day, as volumes in the main-board dried up while 3rd tier stocks continued to dominate the volume board.
Sectors contributing to the performance include Commercial Banks (up 30.7 points), Fertilizers (up 24.5 points), Food & Personal Care Products (up 21.2 points), Tobacco (up 15.5 points) and Inv. Banks / Inv. Cos. / Securities Cos. (up 13.8 points).
BR Automobile Assembler Index lost 3.08 points or 0.04 percent to close at 7,467.41 points with total turnover of 767,277 shares.
BR Cement Index gained 17.27 points or 0.45 percent to close at 3,846.29 points with 9.866 million shares.
BR Commercial Banks Index added 22.26 points or 0.27 percent to close at 8,203.74 points with 8.201 million shares.
BR Power Generation and Distribution Index fell by 11.89 points or 0.17 percent to close at 6,981.02 points with 6.064 million shares.
BR Oil and Gas Index inched up by 2.36 points or 0.06 percent to close at 3,875.11 points with 5.878 million shares.
BR Tech. & Comm. Index closed at 4,109.56 points, up 3.57 points or 0.09 percent with 31.799 million shares.
Muhammad Shuja Qureshi at JS Global Capital said that the benchmark KSE-100 Index consolidated above the 40,000 level and closed with a gain of 82 points at 40,082. Buying was witnessed in select stocks in the cement and technology sectors.
The market turnover increased to 87 million shares, mostly on the back of futures rollover where TELE (up 11.8 percent), WTL (zero percent), KEL (down 1.0 percent), HBL (up 2.5 percent) and DGKC (up 1.7 percent) were the volume leaders.
Copyright Business Recorder, 2023