KARACHI: Pakistan Stock Exchange Monday witnessed a bullish trend on the back of healthy buying on available attractive, low levels.

The market remained in green zone throughout the session and closed on strong positive note with healthy gains. The benchmark KSE-100 Index surged by 485.96 points or 1.23 percent and crossed 40,000 psychological level to close at 40,155.16 points. The index hit 40,366.58 points intraday high, however closed slightly lower due to profit-taking in some stocks.

Trading activity also improved as daily volumes increased to 146.880 million shares as compared to 132.633 million shares traded on last Friday while daily traded value on ready counter increased to Rs 5.134 billion against previous session’s Rs 4.590 billion.

BRIndex100 gained 52.84 points or 1.35 percent to close at 3,968.45 points with total daily turnover of 126.006 million shares.

BRIndex30 increased by 355.47 points or 2.57 percent to close at 14,161.35 points with total daily trading volumes of 79.363 million shares.

Foreign investors also remained net buyers of shares worth $692,478. Total market capitalization increased by Rs 84 billion to Rs 6.409 trillion. Out of total 329 active scrips, 207 closed in positive and 108 in negative while the value of 14 stocks remained unchanged.

PPL was the volume leader with 11.055 million shares and increased by Rs 4.31 to close at Rs 61.78 followed by OGDC that surged by Rs 3.89 to close at Rs 76.87 with 7.699 million shares. WorldCall Telecom gained Rs 0.03 to close at Rs 1.23 with 6.790 million shares.

Nestle Pakistan and Pak Services were the top gainers increasing by Rs 364.87 and Rs 99.00 respectively to close at Rs 5229.87 and Rs 1599.00 while Bhanero Textile and Pak Tobacco were the top losers declining by Rs 72.93 and Rs 57.00 respectively to close at Rs 1051.01 and Rs 915.00.

An analyst at Topline Securities said that Pakistan equities close positive where benchmark KSE-100 Index settled at 40,155 level, up 1.23 percent.

Positive opening witnessed at the bourse as investor cheered the news flow regarding that the Ministry of Energy has agreed to come up with a revised roadmap for the Circular Debt Management Plan for FY23 acceptable to both government as well as the IMF, which led the PPL, OGDC, PSO, POL, SNGP, SSGC closed higher.

BR Automobile Assembler Index gained 46.66 points or 0.63 percent to close at 7,476.88 points with total turnover of 6.141 million shares.

BR Cement Index increased by 65.53 points or 1.75 percent to close at 3,817.11 points with 11.629 million shares.

BR Commercial Banks Index inched up by 24.47 points or 0.31 percent to close at 7,971.36 points with 9.792 million shares.

BR Power Generation and Distribution Index lost 54.49 points or 0.85 percent to close at 6,342.29 points with 11.484 million shares.

BR Oil and Gas Index surged by 129.00 points or 3.52 percent to close at 3,796.72 points with 25.793 million shares.

BR Tech. & Comm. Index closed at 4,309.67 points, up 28.4 points or 0.66 percent with 24.123 million shares.

An analyst at Arif Habib Limited said that the week started with a positive session at the PSX. The market opened in a positive zone and stayed green all day long.

Investors’ participation remains healthy in E&P Sector on the expectation of resolution of gas circular debt, the index went up by 698 points intraday. Robust volumes were observed in the main-board although third-tier stocks remained in the spotlight.

Sectors contributing to the performance include E&P (up 177.1 points), Fertilizer (up 56.7 points), Miscellaneous (up 50.6 points), Cement (up 49.1 points) and OMCs (up 39.5 points).

Copyright Business Recorder, 2022