KARACHI: Pakistan Stock Exchange Friday witnessed a rangebound session, however managed to close on a positive note due to fresh buying in certain scrips at the fag end.
The benchmark KSE-100 Index hit 41,135.80 points intraday high and 40,755.33 points intraday low before closing at 41,128.67 points, up 114.81 points or 0.28 percent.
Trading activity improved as total daily volumes on the ready counter increased to 205.699 million shares as compared to 127.449 million shares traded on Thursday while total daily traded value on ready counter increased to Rs 9.499 billion against Thursday’s Rs 5.518 billion.
BRIndex100 inched up by 0.26 points or 0.01 percent to close at 4,106.18 points with total daily turnover of 189.956 million shares.
BRIndex30 increased by 102.15 points or 0.66 percent to close at 15,580.52 points with total daily trading volumes of 138.498 million shares.
Foreign investors remained on the buying side with net fresh inflow of $6.598 million. The market capitalization increased by Rs 22 billion to Rs 6.782 trillion. Out of total 324 active scrips, 154 closed in negative and 145 in positive while the value of 25 stocks remained unchanged.
TRG Pak was the volume leader with 30.193 million shares. It increased by Rs 5.94 to close at Rs 128.86 followed by TPL Properties that lost Rs 0.02 to close at Rs 20.84 with 18.654 million shares. K-Electric closed at Rs 2.98, down Rs 0.02 with 15.653 million shares.
Bata Pak and Sanofi-Aventis were the top gainers increasing by Rs 106.00 and Rs 49.00 respectively to close at Rs 2395.00 and Rs 1198.00 while Siemens Pak and Bhanero Textile were the top losers declining by Rs 44.99 and Rs 35.01 respectively to close at Rs 700.01 and Rs 1125.00.
An analyst at Arif Habib Limited said that the market remained under pressure all day long as investors participated left and right. The PSX remained sluggish during the opening half but got active in the second trading session. Investors maintained a strategic distance due to political and economic instability, however due to rollover week, hefty volumes were witnessed in the future contracts that led the index close in the green.
Sectors contributing to the performance include Technology (up 80.4 points), E&P (up 35.6 points), Fertilizer (up 24.4 points), Investment Banks (up 20.9 points) and Tobacco (up 13.0 points).
BR Automobile Assembler Index lost 19.91 points or 0.22 percent to close at 9,087.03 points with total turnover of 1.021 million shares.
BR Cement Index decreased by 40.91 points or 0.91 percent to close at 4,466.44 points with 16.115 million shares.
BR Commercial Banks Index fell by 56.5 points or 0.68 percent to close at 8,219.59 points with 7.894 million shares.
BR Power Generation and Distribution Index gained 15.64 points or 0.27 percent to close at 5,825.44 points with 24.418 million shares.
BR Oil and Gas Index inched up by 10.78 points or 0.29 percent to close at 3,670.88 points with 9.907 million shares.
BR Tech. & Comm. Index increased by 90.14 points or 2.25 percent to close at 4,105.20 points with 54.204 million shares.
An analyst at Topline Securities said that a rangebound session was observed at the exchange as the index traded between its intraday high of plus 115 points and intraday low of minus 260 points to finally close at 41,129 level, up by 0.28 percent.
Major contribution to the index came from TRG, DAWH, SYS, MARI and UBL, as they cumulatively contributed plus 153 points to the index. On the flip side HBL, LUCK, PSO, KAPCO and FCCL lost value to weigh down on the index by minus 149 points.
Copyright Business Recorder, 2022