KARACHI: Pakistan Stock Exchange on Thursday witnessed a bullish trend on the back of fresh buying, mainly by local investors coupled with institutional support on available, attractive low levels.
The benchmark KSE-100 Index increased by 228.56 points or 0.29 percent and crossed 78,000 psychological level to close at 78,105.98 points. The index hit 78,709.14 points intraday high, however closed at lower level due to profit-taking in some stocks.
The daily volumes on ready counter stood at 591.065 million shares as compared to 604.144 million shares traded on last trading session. The daily traded value on the ready counter increased to Rs 20.102 billion against previous session’s Rs 19.981 billion.
BRIndex100 gained 27.06 points or 0.33 percent to close at 8,214.84 points with daily turnover of 485.037 million shares.
BRIndex30 inched up by 29.83 points or 0.12 percent to close at 25,683.24 points with daily trading volumes of 299.621 million shares.
Foreign investors however remained net sellers of shares worth $340,199. The market capitalization increased by Rs 46 billion to Rs 10.448 trillion. Out of total 442 active scrips, 227 closed in positive and 162 in negative while the value of 53 stocks remained unchanged.
Kohinoor Spining was the volume leader with 91.017 million shares and increased by Rs 1.00 to close at Rs 9.32 with 91.017 million shares followed by Yousuf Weaving that gained Rs 0.86 to close at Rs 6.49 with 65.313 million shares. WorldCall Telecom inched up by Rs 0.06 to close at Rs 1.23 with 60.620 million shares.
Hallmark Company and Pakistan Engineering Company were the top gainers increasing by Rs 48.97 and Rs 33.87, respectively to close at Rs 538.65 and Rs 699.11 while PIA Holding Company LimitedB and Nestle Pakistan were the top losers declining by Rs 84.87 and Rs 47.50, respectively to close at Rs 883.73 and Rs 6,800.00.
An analyst at Topline Securities said Pakistan’s stock market index increased by 229 points, or 0.29 percent, closing at 78,106 level. The index fluctuated between a high of 78,709 and a low of 77,988 points.
The Fertilizer, Exploration & Production (E&P), IT, and Banking sectors saw significant contributions from FFC, POL, MCB, SYS, and MEBL, which together accounted for plus 253 points.
BR Automobile Assembler Index declined by 323.88 points or 1.75 percent to close at 18,133.60 points with total turnover of 11.920 million shares.
BR Cement Index decreased by 65.82 points or 0.9 percent to close at 7,220.24 points with 19.028 million shares.
BR Commercial Banks Index added 50.29 points or 0.23 percent to close at 22,066.78 points with 19.184 million shares.
BR Power Generation and Distribution Index gained 50.52 points or 0.29 percent to close at 17,765.11 points with 26.243 million shares.
BR Oil and Gas Index inched up by 26.0 points or 0.37 percent to close at 7,084.39 points with 23.320 million shares.
BR Tech. & Comm. Index increased by 48.85 points or 1.21 percent to close at 4,097.89 points with 146.162 million shares.
Mohammed Waqar Iqbal at JS Global Capital said bullish activity was observed at PSX as investors capitalized on attractive levels, particularly in the Technology and Fertilizer sectors.
The index reached an intraday high of 78,709 points (up 831 points); however, profit taking at higher levels trimmed gains, with the index eventually closing at 78,106 points (up 228 points).
Copyright Business Recorder, 2024
Source: Brecorder
