Positive trend persists

KARACHI: Pakistan Stock Exchange on Tuesday witnessed a positive trend on the back of fresh buying, mainly by local and foreign investors.

The benchmark KSE-100 Index crossed 46,000 points during the session to hit 46,036.04 points intraday high, however failed to sustain this level due to profit-taking in some stocks and closed at slightly low level, ie, 45,910.47 points with an increase of 107.28 points or 0.23 percent.

Trading activity also improved as daily volumes on ready counter increased to 117.145 million shares as compared to 103.494 million shares traded on Monday. The daily traded value on ready counter increased to Rs 4.110 billion against previous session’s Rs 3.296 billion.

BRIndex100 gained 7.53 points or 0.16 percent to close at 4,599.56 points with daily turnover of 85.111 million shares.

BRIndex30 added 46.41 points or 0.28 percent to close at 16,343.36 points with total daily trading volumes of 49.084 million shares.

Foreign investors also remained net buyers of shares worth $407,396. Total market capitalization increased by Rs 31 billion to Rs 6.794 trillion. Out of total 323 active scrips, 160 closed in positive and 136 in negative while the value of 27 stocks remained unchanged.

Yousul Weaving was the volume leader with 11.645 million shares and inched up by Rs 0.16 to close at Rs 2.93 followed by SEARLR2 that closed at Rs 0.77, down Rs 0.25 with 7.363 million shares. BankIslami Pak gained Rs 0.64 to close at Rs 15.08 with 6.072 million shares.

Nestle Pakistan and Bhanero Textile were the top gainers increasing by Rs 100.00 and Rs 65.00 respectively to close at Rs 7100.00 and Rs 990.00 while Sanofi-Aventis and Mehmood Textile were the top losers declining by Rs 56.92 and Rs 40.27 respectively to close at Rs 702.08 and Rs 496.70.

“Another dull session was observed at the exchange as index gained 0.23 percent points to close at 45,910 level,” an analyst at Topline Securities said.

Major positive contribution to the index came from UBL, TRG, THALL, OGDC and MTL as they cumulatively contributed plus 107 points to the index, whereas FFC, MCB, HUBC, LUCK and SYS lost value to weigh down on the index by negative 49 points.

BR Automobile Assembler Index increased by 75.23 points or 0.84 percent to close at 9,046.16 points with total turnover of 3.040 million shares.

BR Cement Index decreased by 28.18 points or 0.6 percent to close at 4,634.57 points with 4.270 million shares.

BR Commercial Banks Index added 31.92 points or 0.3 percent to close at 10,723.58 points with 17.607 million shares.

BR Power Generation and Distribution Index lost 10.74 points or 0.12 percent to close at 8,945.07 points with 7.722 million shares.

BR Oil and Gas Index inched up by 14.19 points or 0.33 percent to close at 4,320.51 points with 13.540 million shares.

BR Tech. & Comm. Index closed at 3,759.19 points, up 19.28 points or 0.52 percent with 10.451 million shares.

Mubashir Anis Naviwala at JS Global Capital said the PSX witnessed rangebound activity closing at 45,910, gaining 107 points.

Traded volume stood at 117 million shares where YOUW (up 5.8 percent), BIPL (up 4.4 percent), CNERGY (up 0.7 percent), PRL (up 1.2 percent) and WTL (down 0.9 percent) were among the volume leaders.

Copyright Business Recorder, 2023