KARACHI: A bullish trend continued on Pakistan Stock Exchange Thursday and the market closed on strong positive note with healthy gains.
The benchmark KSE-100 Index surged by 364.33 points or 0.89 percent and closed at 41,463.91 points. The index hit 41,525.01 points intraday high however closed at slightly lower level due to profit-taking in some stocks.
Total daily trading volumes on ready counter stood at 169.105 million shares as compared to 186.900 million shares traded on Wednesday while total daily traded value on ready counter increased to Rs 6.248 billion against previous session’s Rs 5.781 billion.
BRIndex100 gained 21.66 points or 0.52 percent to close at 4,218.70 points with total daily turnover of 154.481 million shares.
BRIndex30 added 40.76 points or 0.27 percent to close at 14,997.00 points with total daily trading volumes of 92.474 million shares.
Foreign investors also remained net buyers of shares worth $1.244 million. Total market capitalization increased by Rs 45 billion to Rs 6.258 trillion. Out of total 342 active scrips, 175 closed in positive and 141 in negative while the value of 26 stocks remained unchanged.
Bank Alfalah was the volume leader with 14.264 million shares and gained Rs 0.20 to close at Rs 29.46 followed by Maple Leaf Cement that inched up by Rs 0.64 to close at Rs 27.61 with 7.275 million shares. Pak Refinery lost Rs 0.31 to close at Rs 13.91 with 6.884 million shares.
Nestle Pakistan and Sapphire Fiber were the top gainers increasing by Rs 133.98 and Rs 72.78 respectively to close at Rs 5333.98 and Rs 1043.29 while Premium Textile and Towellers Limited were the top losers declining by Rs 31.46 and Rs 16.75 respectively to close at Rs 443.53 and Rs 206.66.
An analyst at Arif Habib Limited said that bullish trend at the PSX continued. The benchmark KSE-100 Index opened with positive momentum and continued to trade in green throughout the day, reaching an intraday high of plus 419.84 points, as investors’ participation remained active due to positive outcomes on the political front. Volumes picked up as above-expected financial results were announced by the Banking, Technology, and Cement sector, boosting investor confidence to accumulate strong fundamental stocks and leading the index to close in Green.
Sectors contributing to the performance include Inv. Banks / Inv. Cos. / Securities Cos. (up 71.7 points), Commercial Banks (up 58.5 points), Cement (up 47.2 points), E&P (up 43.9 points) and Fertilizer (up 30.1 points).
BR Automobile Assembler Index surged by 124.72 points or 1.64 percent to close at 7,732.82 points total turnover of 2.877 million shares.
BR Cement Index increased by 57.76 points or 1.48 percent to close at 3,953.57 points with 16.268 million shares.
BR Commercial Banks Index added 70.38 points or 0.82 percent to close at 8,617.61 points with 34.877 million shares.
BR Power Generation and Distribution Index closed at 7,327.47 points, down 0.72 points or 0.01 percent with 13.289 million shares.
BR Oil and Gas Index inched up by 26.46 points or 0.67 percent to close at 4,000.03 points with 11.141 million shares.
BR Tech. & Comm. Index gained 27.3 points or 0.66 percent to close at 4,142.12 points with 20.705 million shares.
Muhammad Waqar Iqbal at JS Global Capital said that the bourse continued with the positive momentum and KSE-100 index closed the day at 41,464, gaining 364 points.
Traded volume stood at 169 million shares with BAFL (up 0.7 percent), MLCF (up 2.4 percent), PRL (down 2.2 percent), WTL (up 0.9 percent) and TREET (up 2.1 percent) among the volume leaders.
Copyright Business Recorder, 2023
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