Positive trend is Ongoing in Karachi Stock Exchange Report as off 20-09-2023

KARACHI:

Fresh buying, primarily by domestic and international investors, helped the Pakistan Stock Exchange experience a favourable trend on Tuesday.

The KSE-100 Index, the industry standard, crossed over 46,000 points during the session to reach an intraday high of 46,036.04 points, but was unable to maintain this level due to profit-taking in some stocks and instead closed at a somewhat low level, i.e., 45,910.47 points, with a gain of 107.28 points or 0.23 percent.

As daily volumes on the main counter grew to 117.145 million shares from 103.494 million shares traded on Monday, trading activity also improved. In comparison to the previous session, the daily traded value on the ready counter grew to Rs 4.110 billion, or Rs 3.296 billion.

With a daily turnover of 85.111 million shares, the BRIndex100 increased 7.53 points, or 0.16 percent, to close at 4,599.56 points.

To conclude at 16,343.36 points, the BRIndex30 gained 46.41 points, or 0.28 percent, with a total daily trading volume of 49.084 million shares.

Additionally, shares worth $407,396 continued to be net bought by foreign investors. To reach Rs 6.794 trillion, the total market capitalization increased by Rs 31 billion. Out of the 323 active scrips, 160 closed in positive territory, 136 in negative territory, and 27 stocks had no change in value.

Yousul Weaving had the most shares, 11.645 million, and increased by Rs 0.16 to close at Rs 2.93. SEARLR2, with 7.363 million shares, decreased by Rs 0.25 to close at Rs 0.77. With 6.072 million shares, BankIslami Pak increased Rs 0.64 to close at Rs 15.08.

Sanofi-Aventis and Mehmood Textile were the top losers, falling by Rs. 56.92 and Rs. 40.27 respectively to end at Rs. 702.08 and Rs. 496.70. Nestle Pakistan and Bhanero Textile were the top gainers, growing by Rs. 100.00 and Rs. 65.00 respectively to close at Rs. 7100.00 and Rs.

"Another dull session was observed at the exchange as index gained 0.23 percent points to close at 45,910 level," a Topline Securities analyst reported.

UBL, TRG, THALL, OGDC, and MTL made a significant positive contribution to the index by collectively adding plus 107 points, while FFC, MCB, HUBC, LUCK, and SYS lost value and brought the index down by a net 49 points.

With a total share volume of 3.040 million, the BR Automobile Assembler Index rose by 75.23 points, or 0.84 percent, to close at 9,046.16 points.

With 4.270 million shares, the BR Cement Index dropped by 28.18 points, or 0.6 percent, to settle at 4,634.57 points.

With 17.607 million shares, the BR Commercial Banks Index gained 31.92 points, or 0.3 percent, to close at 10,723.58 points.

With 7.722 million shares, the BR Power Generation and Distribution Index dropped 10.74 points, or 0.12 percent, to settle at 8,945.07 points.

With 13.540 million shares, the BR Oil and Gas Index climbed 14.19 points, or 0.33 percent, to settle at 4,320.51 points.

With 10.451 million shares, the BR Tech. & Comm. Index closed at 3,759.19 points, up 19.28 points or 0.52 percent.

The PSX experienced rangebound activity, according to Mubashir Anis Naviwala of JS Global Capital, and closed at 45,910, up 107 points.

The number of shares traded was 117 million, with YOUW (up 5.8%), BIPL (up 4.4%), CNERGY (up 0.7%), PRL (up 1.2%), and WTL (down 0.9%) among the volume leaders.