KARACHI: The record-breaking trend continued as the Pakistan Stock Exchange on Friday achieved another historic milestone and closed at highest-ever level.

The benchmark KSE-100 Index surged by 411.65 points or 0.55 percent and closed above 75,000 level for the first time in its history at highest-ever level 75,342.35 points. The index hit 75,401.12 points intra-day high, however closed at slightly lower level due to profit taking in some stocks.

Trading activity also improved as total daily volumes on ready counter increased to 496.699 million shares as compared to 407.625 million shares traded on Thursday while total daily traded value on the ready counter increased to Rs 17.631 billion against previous session’s Rs 16.978 billion.

BRIndex100 gained 33.21 points or 0.42 percent to close at 7,871.33 points with total daily turnover of 430.573 million shares.

BRIndex30 increased by 135.98 points or 0.53 percent to close at 25,595.62 points with total daily trading volumes of 283.583 million shares.

Foreign investors also remained net buyers of shares worth $455,281. Total market capitalization increased by Rs 48 billion to Rs 10.133 trillion. Out of total 386 active scrips, 212 closed in positive and 153 in negative while the value of 21 stocks remained unchanged.

Kohinoor Spining was the volume leader with 44.618 million shares and gained Rs 0.19 to close at Rs 4.85 followed by P.I.A.C. (A) that declined by Rs 1.89 to close at Rs 24.31 with 28.760 million shares. K-Electric lost Rs 0.04 to close at Rs 4.57 with 23.057 million shares.

Nestle Pakistan and Ismail Industries were the top gainers increasing by Rs 149.82 and Rs 104.14 respectively to close at Rs 7,429.82 and Rs 1,548.92 while Service Industries and Khyber Textile Mills were the top losers declining by Rs 23.52 and Rs 19.98 respectively to close at Rs 778.03 and Rs 460.73.

An analyst at Topline Securities said that the KSE-100 Index largely traded in the positive zone during the trading session, where the index gained to close at 75,342 level (up by 0.55 percent).

This positivity in the market can be attributed to decline in yields on T-Bills following T-Bill auction on Wednesday where yields declined across all tenors.

Major positive contribution to the index came from DAWH, HUBC, THALL, EFERT and FFC as they cumulatively contributed plus 222 points.

BR Automobile Assembler Index soared by 54.59 points or 0.34 percent to close at 16,309.75 points with total turnover of 20.961 million shares.

BR Cement Index added 34.04 points or 0.44 percent to close at 7,703.51 points with 81.207 million shares.

BR Commercial Banks Index lost 27.4 points or 0.14 percent to close at 19,997.04 points with 29.878 million shares.

BR Power Generation and Distribution Index increased by 180.77 points or 1.08 percent to close at 16,954.33 points with 28.664 million shares.

BR Oil and Gas Index gained 13.52 points or 0.2 percent to close at 6,862.63 points with 24.831 million shares.

BR Tech. & Comm. Index inched up by 8.77 points or 0.23 percent to close at 3,844.21 points with 36.591 million shares.

Mohammed Waqar Iqbal at JS Global Capital said that the market opened on a positive note but some investors preferred to book profits and reduce positions ahead of the roll-over week.

Traded volume stood at 497 million shares where KOSM (up 4.1 percent), PIAA (down 7.2 percent), KEL (down 0.9 percent), DCL (up 5.6 percent) and PAEL (up 2.5 percent) were the volume leaders.

Copyright Business Recorder, 2024

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