KARACHI: Pakistan Stock Exchange on Monday witnessed another bullish session and hit new highest ever levels on the back of healthy buying by both local and foreign investors coupled with institutional support.
The benchmark KSE-100 index surged by 1,203.20 points or 1.76 percent and crossed 69,000 points psychological level for the first time in history to close at its highest ever level of 69,619.99 points. During the session, the index hit 69,720.03 points intra-day high, which was also highest ever intra-day level.
Total daily trading volumes on ready counter stood at 335.825 million shares as compared to 388.751 million shares traded on previous session, while total daily traded value on the ready counter stood at Rs 15.315 billion against previous session’s Rs 17.882 billion.
BRIndex100 soared by 146.69 points or 2.08 percent to close at 7,206.27 points with total daily turnover of 294.146 million shares.
BRIndex30 increased by 500.87 points or 2.18 percent to close at 23,497.69 points with total daily trading volumes of 213.566 million shares.
The foreign investors also remained net buyers of shares worth $1.704 million. Total market capitalization increased by Rs 138 billion to Rs 9.682 trillion. Out of total 345 active scrips, 203 closed in positive and 123 in negative while the value of 19 stocks remained unchanged.
PTCL was the volume leader with 33.757 million shares and gained Rs 0.83 to close at Rs 17.02 followed by The Searle Company that increased by Rs 4.1 to close at Rs 61.86 with 21.100 million shares. WorldCall Telecom inched up by Re 0.03 to close at Rs 1.38 with 18.139 million shares.
Rafhan Maize Products Company and Mari Petroleum Company were the top gainers increasing by Rs 150.00 and Rs 48.88 respectively to close at Rs 8,350.00 and Rs 2,565.86, while Hallmark Company and Al-Abbas Sugar Mills were the top losers declining by Rs 49.93 and Rs 35.00 respectively to close at Rs 615.80 and Rs 550.00.
An analyst at Topline Securities said that Pakistan equities kicked off the shorter week (a week of two trading session before Eid holidays) with the bang. Bulls resumed their north bound march and post 66,000 level, they are having a walk in the park at PSX.
The KSE-100 index commenced the day on a positive note, remained green throughout the day and ultimately closed the day at 69,620 (gaining 1,203 points; up 1.76 percent).
Investors opted to choose further strengthening in their equity position by doing value hunting across the board especially in the blue-chip stocks.
Consequently, Fertilizer, Power, Banks and Tech contributed positively as FFC, HUBC, MCB, SYS and MEBL added 486 points, collectively. On the flip side, DAWH, EFERT and ENGRO lost 85 points as they saw some profit taking.
BR Automobile Assembler Index gained 141.33 points or 0.89 percent to close at 16,094.83 points with total turnover of 11.314 million shares.
BR Cement Index inched up by 61.42 points or 0.92 percent to close at 6,773.17 points with 12.719 million shares.
BR Commercial Banks Index surged by 415.82 points or 2.34 percent to close at 18,157.59 points with 26.286 million shares.
BR Power Generation and Distribution Index increased by 388.95 points or 2.62 percent to close at 15,242.99 points with 31.697 million shares.
BR Oil and Gas Index added 129.52 points or 2.1 percent to close at 6,309.70 points with 20.930 million shares.
BR Tech & Comm Index soared by 125.08 points or 3.33 percent to close at 3,883.93 points with 77.354 million shares.
“It was another record-breaking session at PSX with the benchmark KSE-100 index gaining 1,203 points to close at 69,620 points,” Muhammad Shuja Qureshi at JS Global Capital said.
Buying was witnessed across the board where AVN, OCTOPUS, ISL, SAZEW, and SEARL closed at their respective upper locks. Other notable gainers were LUCK, SYS, HUBC, NRL, OGDC, and PPL.
The turnover dropped to 336 million shares, where PTC (up 5.1 percent), SEARL (up 7.1 percent), WTL (up 2.2 percent), KEL (up 0.2 percent), and PIAA (down 0.5 percent) were the volume leaders.
Copyright Business Recorder, 2024
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