KARACHI: A bullish trend continued on Pakistan Stock Exchange on Tuesday on the back of aggressive buying in various sectors.
The benchmark KSE-100 Index increased by 255.52 points or 0.61 percent and closed at 41,923.46 points. The index crossed 42,000 psychological level to hit 42,026.94 points intraday high, however closed at lower level due to profit-taking in certain stocks.
Trading activity also improved as daily volumes on ready counter increased to 240.829 million shares as compared to 145.177 million shares traded Monday. The daily traded value on ready counter increased to Rs 7.152 billion against previous session’s Rs 4.682 billion.
BRIndex100 gained 26.58 points or 0.64 percent to close at 4,194.45 points with total daily turnover of 212.456 million shares.
BRIndex30 added 61.36 points or 0.43 percent to close at 14,458.12 points with total daily trading volumes of 152.180 million shares. Foreign investors also remained net buyers of shares worth $409,386. Total market capitalization increased by Rs 37 billion to Rs 6.367 trillion. Out of total 331 active scrips, 198 closed in positive and 114 in negative while the value of 19 stocks remained unchanged.
WorldCall Telecom was the volume leader with 24.434 million shares and closed at Rs 1.15, down Rs 0.01 followed by Pak Refinery that gained Rs 0.70 to close at Rs 15.06 with 20.519 million shares. Cnergyico PK inched up by Rs 0.18 to close at Rs 3.33 with 15.518 million shares.
Unilever Foods and Bata Pak were the top gainers increasing by Rs 950.00 and Rs 33.50 respectively to close at Rs 23000.00 and Rs 1664.00 while Sapphire Fiber and ZIL Limited were the top losers declining by Rs 34.97 and Rs 22.00 respectively to close at Rs 1225.01 and Rs 317.00.
An analyst at Arif Habib Limited said that the trading session at the PSX was another success. The market opened in the green and continued to trade in the green throughout the day, courtesy of favorable news about the resumption of the long-stalled IMF program. Investor activity was strong throughout the day as whisper of good budget for capital kept index moving. Across the board, healthy volumes were recorded.
Sectors contributing to the performance include Fertilizer (up 64.8 points), OMCs (up 43.7 points), Refinery (up 25.6 points), Chemical (up 22.6 points) and Cement (up 16.5 points).
BR Automobile Assembler Index lost 4.99 points or 0.07 percent to close at 7,417.15 points with total turnover of 2.794 million shares.
BR Cement Index added 22.19 points or 0.48 percent to close at 4,608.54 points with 21.408 million shares.
BR Commercial Banks Index inched up by 6.3 points or 0.07 percent to close at 8,561.77 points with 8.188 million shares.
BR Power Generation and Distribution Index gained 17.94 points or 0.24 percent to close at 7,400.45 points with 6.218 million shares.
BR Oil and Gas Index increased by 24.86 points or 0.64 percent to close at 3,906.07 points with 37.433 million shares.
BR Tech. & Comm. Index closed at 3,689.11 points, up 13.02 points or 0.35 percent with 45.511 million shares.
Mubashir Anis Naviwala at JS Global Capital said bulls pulled KSE-100 Index to an intraday high of 42,027 points eventually leading the market to close at 41,923, up 255 points.
Healthy participation was witnessed in Refinery Sector, where NRL (up 7.2 percent), ATRL (up 4.7 percent) and PRL (up 4.9 percent) were notable performers. Outstanding performance was also seen in PSO (up 5.8 percent) on the second consecutive day.
Traded volume stood at 241 million shares where WTL (down 0.9 percent), PRL (up 4.9 percent), CNERGY (up 5.7 percent), PPL (down 0.5 percent) and PAEL (up 4.8 percent) were the volume leaders.
Copyright Business Recorder, 2023
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