KSE-100 rises 0.35% amid low investor participation

The Pakistan Stock Exchange (PSX) recorded a positive session and the KSE-100 Index rose 0.35% in the midst of low investor participation. This was the 13th successive positive finish for the benchmark index.

The market oscillated in both directions throughout the session.

By the end of the day, the KSE-100 Index closed 148.18 points or 0.35% higher to settle at 42,241.98.

KSE-100 ends flat after roller-coaster session

Following a brief upward open, the market fell to an intra-day low level in the first hour. A buying spree gripped the market at this point and the first session closed in green. The upward trend persisted in the second session and accelerated the gains.

Banking and oil sectors closed upward while cement, automobile, chemical and fertiliser ended in red.

A report from Capital Stake added that the PSX closed last trading session of the week on a positive note.

“Indices swayed in both directions, while volumes dropped from last close,” it said.

A report from Arif Habib Limited stated that the business week finished on a high note at the PSX.

“The market opened in the green, but investor engagement remained low due to weekend, making the index fluctuate in both directions,” it said. “As the second session resumed, bulls became active in the market by pushing the bourse to reach an intraday high of 229.49 points, increasing volumes significantly, as investor added value to the portfolio by cherry picking strong fundamental stocks.”

Cements and banks remained in the limelight, the report said.

Sectors propelling the benchmark KSE-100 index forward included banking (56.61 points), power generation and distribution (55.97 points) and fertiliser (28.05 points).

Volume on the all-share index fell to 178.2 million from 255.3 million on Thursday while the value of shares traded dropped to Rs5.8 billion from Rs9.3 billion recorded in the previous session.

WorldCall Telecom was the volume leader with 17 million shares followed by Sui Northern Gas Pipeline with 13.7 million shares and TPL Properties with 9.7 million shares.

Shares of 352 companies were traded on Friday, of which 151 registered an increase, 170 recorded a fall and 31 remained unchanged.