PSX ends on positive note

KARACHI: Pakistan Stock Exchange on Friday ended on positive note with increased trading activities due to prevailing investor interest.

The benchmark KSE-100 index increased by 190.67 points or 0.29 percent and closed at 65,793.76 points. During the session, the index crossed 66,000 psychological level to hit 66,067.53 points intra-day high however failed to sustain this level due to profit taking in some stocks in second half of the trading session.

Trading activities also improved as total daily volumes on ready counter increased to 481.704 million shares as compared to 354.153 million shares traded on Thursday while total daily traded value on the ready counter increased to Rs 16.992 billion against previous session’s Rs 14.435 billion.

BRIndex100 gained 21.05 points or 0.31 percent to close at 6,785.95 points with total daily turnover of 451.893 million shares.

BRIndex30 added 99.42 points or 0.43 percent to close at 23,023.80 points with total daily trading volumes of 363.082 million shares.

The foreign investors however remained net sellers of shares worth $208,874. Total market capitalization increased by Rs 24 billion to Rs 9.354 trillion. Out of total 357 active scrips, 208 closed in positive and 119 in negative while the value of 30 stocks remained unchanged.

K-Electric was the volume leader with 59.083 million shares and gained Re 0.14 to close at Rs 4.83 followed by Cnergyico PK that inched up by Re 0.31 to close at Rs 4.89 with 51.468 million shares. Kohinoor Spining closed at Rs 5.52, up Re 0.40 with 45.948 million shares.

Nestle Pakistan and Pakistan Services Limited were the top gainers increasing by Rs 160.00 and Rs 29.99 respectively to close at Rs 8,050.00 and Rs 894.99 while Rafhan Maize Products Company and The Premier Sugar Mills were the top losers declining by Rs 345.00 and Rs 23.75 respectively to close at Rs 8,655.00 and Rs 460.00.

An analyst at Topline Securities said that the KSE-100 Index largely traded in the positive zone during the trading session to close at 65,794 level, up by 0.3 percent.

This positivity in the market can be attributed to statement from IMF that they are ready to send mission to Pakistan after formation of cabinet.

Major positive contribution to the Index came from DAWH, EFERT, PSEL, SHEL and NRL, as they cumulatively contributed 175 points to the index.

BR Automobile Assembler Index increased by 176.48 points or 1.12 percent to close at 15,887.43 points with total turnover of 11.518 million shares.

BR Cement Index added 35.57 points or 0.54 percent to close at 6,613.33 points with 14.944 million shares.

BR Commercial Banks Index decreased by 84.8 points or 0.51 percent to close at 16,577.11 points with 23.723 million shares.

BR Power Generation and Distribution Index gained 40.37 points or 0.28 percent to close at 14,421.07 points with 66.555 million shares.

BR Oil and Gas Index inched up by 9.77 points or 0.16 percent to close at 6,271.45 points with 23.691 million shares

BR Tech & Comm Index closed at 3,775.39 points, up 17.08 points or 0.45 percent with 78.700 million shares.

Mubashir Anis Naviwala at JS Global Capital said the market opened on a positive note with notable activity in the E&P, OMC and Refinery sectors.

Traded volume stood at 482 million shares where KEL (up 3.0 percent), CNERGY (up 6.8 percent), KOSM (up 7.8 percent), TELE (up 9.1 percent) and PRL (up 2.5 percent) were the volume leaders.

Copyright Business Recorder, 2024