KARACHI: Pakistan Stock Exchange on Thursday witnessed a rangebound session and after moving in both directions, closed on positive note on the back of fresh buying during the second half of the trading session.
The benchmark KSE-100 Index increased by 414.56 points or 0.67 percent and closed at 62,393.74 points. The index hit 62,480.23 points intraday high and Rs 61,764.70 points intraday low.
The daily trading volumes on the ready counter stood at 270.537 million shares as compared to 276.464 million shares traded on Wednesday while total daily traded value on the ready counter increased to Rs 11.625 billion against previous session’s Rs 9.271 billion.
BRIndex100 added 48.87 points or 0.77 percent to close at 6,392.93 points with total daily turnover of 217.918 million shares.
BRIndex30 surged by 312.78 points or 1.41 percent to close at 22,512.83 points with total daily trading volumes of 175.765 million shares.
Foreign investors remained net buyers of shares worth $1.719 million. Total market capitalization increased by Rs 46 billion to Rs 9.119 trillion. Out of total 346 active scrips, 166 closed in positive and 154 in negative while the value of 26 stocks remained unchanged.
K-Electric was the volume leader with 33.965 million shares however lost Rs 0.08 to close at Rs 4.46 followed by Soneri Bank that gained Rs 0.96 to close at Rs 13.17 with 28.110 million shares. Pak Refinery increased by Rs 1.36 to close at Rs 26.49 with 26.126 million shares.
Mari Petroleum Company and Philip Morris Pakistan were the top gainers increasing by Rs 68.41 and Rs 38.01 respectively to close at Rs 2,328.14 and Rs 658.00 while Rafhan Maize Products Company and Ismail Industries were the top losers declining by Rs 550.00 and Rs 93.00 respectively to close at Rs 8,650.00 and Rs 1,157.00.
“Continuing Wednesday’s momentum, Pakistan equities went into negative note as the KSE-100 index made an intraday low at 61,765 levels by losing 215 points,” an analyst at Topline Securities said. However, at the day’s low, value hunters opted to do some cherry picking which helped the benchmark index to closed the day at 62,394, up 415 points or 0.67 percent before making an intraday high at 62,480 (up 501 points).
During the day, OGDC, MEBL, MARI, PPL and ENGRO contributed positively by gaining 360 points, cumulatively. On the flip side, PAKT, EFERT and BAHL saw some selling interest as they lost 85 points.
BR Automobile Assembler Index lost 26.04 points or 0.19 percent to close at 13,730.13 points with total turnover of 2.781 million shares.
BR Cement Index inched down by 20.8 points or 0.33 percent to close at 6,374.11 points with 5.396 million shares.
BR Commercial Banks Index increased by 110.58 points or 0.72 percent to close at 15,566.18 points with 59.228 million shares.
BR Power Generation and Distribution Index decreased by 57.86 points or 0.42 percent to close at 13,714.97 points with 36.538 million shares.
BR Oil and Gas Index surged by 156.05 points or 2.56 percent to close at 6,249.87 points with 50.654 million shares.
BR Tech. & Comm. Index closed at 3,558.07 points, up 16.83 points or 0.48 percent with 19.495 million shares.
Mohammed Waqar Iqbal at JS Global Capital said the bourse witnessed rangebound activity. The KSE-100 Index moved between a high and low of 62,480 and 61,765 points, respectively.
Traded volume stood at 271 million shares with KEL (down 1.8 percent), SNBL (up 7.9 percent), PRL (up 5.4 percent), PPL (up 1.5 percent) and PIAA (up 8.3 percent) among the top volume leaders.
Copyright Business Recorder, 2024