KARACHI: Pakistan Stock Exchange on Friday witnessed another bullish session and extended its gains on the back of buying interest by both local and foreign investors coupled with institutional support.

The benchmark KSE-100 index surged by 747.16 points or 1.16 percent and crossed 65,000 psychological level to close at 65,325.69 points. During the session, the index hit 65,486.46 points intra-day high and 64,530.21 points intra-day low level.

Trading activities however remained low as total daily volumes on ready counter decreased to 344.227 million shares as compared to 424.043 million shares traded on Thursday while total daily traded value on the ready counter declined to Rs 13.385 billion against previous session’s Rs 17.053 billion.

BRIndex100 added 68.29 points or 1.03 percent to close at 6,716.71 points with total daily turnover of 301.486 million shares.

BRIndex30 closed at 22,516.90 points, down 52.7 points or 0.23 percent with total daily trading volumes of 213.151 million shares.

The foreign investors also remained net buyers of shares worth $853,639. Total market capitalization increased by Rs 87 billion to Rs 9.312 trillion. Out of total 350 active scrips, 172 closed in positive and 158 in negative while the value of 20 stocks remained unchanged.

Kohinoor Spining was the volume leader with 71.357 million shares and gained Re 0.67 to close at Rs 5.36 followed by K-Electric that lost Re 0.03 to close at Rs 4.87 with 19.423 million shares. Treet Corp increased by Re 0.72 to close at Rs 18.02 with 17.473 million shares.

Rafhan Maize Products Company and Mari Petroleum Company were the top gainers increasing by Rs 450.00 and Rs 113.50 respectively to close at Rs 8,850.00 and Rs 2,462.05 while Khyber Tobacco Company and Mehmood Textile Mills were the top losers declining by Rs 26.32 and Rs 17.72 respectively to close at Rs 324.68 and Rs 416.00.

Mohammed Waqar Iqbal at JS Global Capital said that the KSE-100 index posted a gain of 747 points to close at 64,578 level.

KOSM (up 14 percent), KEL (down 0.6 percent), TREET (up 4.2 percent), WTL (down 0.8 percent) and CNERGY (up 0.7 percent) were the volume leaders.

BR Automobile Assembler Index surged by 310.19 points or 2.04 percent to close at 15,540.52 points with total turnover of 7.904 million shares.

BR Cement Index declined by 67.68 points or 1.03 percent to close at 6,533.23 points with 8.737 million shares.

BR Commercial Banks Index increased by 281.8 points or 1.71 percent to close at 16,788.81 points with 35.469 million shares.

BR Power Generation and Distribution Index gained 40.34 points or 0.28 percent to close at 14,245.12 points with 25.743 million shares.

BR Oil and Gas Index added 43.13 points or 0.71 percent to close at 6,122.52 points with 26.139 million shares.

BR Tech & Comm Index lost 5.87 points or 0.16 percent to close at 3,729.67 points with 47.144 million shares.

Ahsan Mehanti at Arif Habib Corporation said that stocks closed higher amid reports of CPI inflation falling to 23.1 percent for February 2024 after NA session held for new Government setup easing political uncertainty.

He said the US assurance for support to break free from vicious cycle of debt and international financing and surging global equities played a catalyst role in bullish close at PSX.

Copyright Business Recorder, 2024


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