KARACHI: Pakistan Stock Exchange on Friday witnessed a bullish trend and hit highest-ever levels with healthy gains on the back of investors interest on expectations of more foreign inflows and improving economic situation in the country.
The benchmark KSE-100 Index surged by 771.35 points or 1.07 percent and closed at its highest-ever level of 72,742.75 points.
After opening of the trading session, the index dropped into negative zone to hit 71,764.18 points intraday low, however the market rebounded in the second half of the session that supported the index to hit 72,862.41 points intraday highest ever level.
Trading activity however remained low as daily volumes on ready counter decreased to 541.144 million shares as compared to 798.527 million shares traded on Thursday while total daily traded value on the ready counter declined to Rs 22.589 billion against previous session’s Rs 27.542 billion.
BRIndex100 increased by 100.32 points or 1.33 percent to close at 7,626.10 points with total daily turnover of 486.181 million shares.
BRIndex30 soared by 164.53 points or 0.67 percent to close at 24,814.09 points with total daily trading volumes of 310.130 million shares.
The market capitalization increased by Rs 65 billion to Rs 10.017 trillion. Out of total 377 active scrips, 177 closed in positive and 175 in negative while the value of 25 stocks remained unchanged.
Askari Bank was the volume leader with 39.174 million shares and gained Rs 0.31 to close at Rs 25.16 followed by K-Electric that lost Rs 0.06 to close at Rs 4.58 with 31.235 million shares. WorldCall Telecom closed at Rs 1.33, down Rs 0.06 with 30.155 million shares.
Nestle Pakistan and Sapphire Fibres were the top gainers increasing by Rs 131.74 and Rs 104.12 respectively to close at Rs 7,822.61 and Rs 1,492.45 while Unilever Pakistan Foods and Philip Morris Pakistan were the top losers declining by Rs 101.08 and Rs 38.36 respectively to close at Rs 20,153.92 and Rs 630.20.
An analyst at Topline Securities said that positive session was observed where the KSE-100 Index gained 771 points to close at its ever high level of 72,743 level (up by 1.07 percent).
Major positive contribution to the index came from EFERT, BAHL, HUBC, FFC and ENGRO, as they cumulatively contributed plus 577 points to the index.
BR Automobile Assembler Index plunged by 1708.25 points or 9.81 percent to close at 15,699.67 points with total turnover of 28.827 million shares.
BR Cement Index increased by 103.78 points or 1.44 percent to close at 7,285.96 points with 24.768 million shares.
BR Commercial Banks Index added 171.74 points or 0.91 percent to close at 19,119.91 points with 81.008 million shares.
BR Power Generation and Distribution Index surged by 315.49 points or 1.97 percent to close at 16,302.26 points with 49.598 million shares.
BR Oil and Gas Index lost 16.4 points or 0.25 percent to close at 6,570.02 points with 30.724 million shares.
BR Tech. & Comm. Index decreased by 39.16 points or 0.99 percent to close at 3,908.72 points with 78.930 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed all time high on strong earnings outlook and reports of RDA reaching $7.66 billion.
He said foreign inflows, stable rupee, speculation ahead of the SBP policy rate decision on April 29, and firm IMF new loan talks played catalyst role in record close.
Copyright Business Recorder, 2024
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