Pakistan Stock Exchange (PSX) turned bullish on Friday, a day after the Supreme Court ruled to end political uncertainty in the country, with the benchmark KSE-100 Index gaining 657.75 points (+1.5 percent) to close at 44,444.58 points.
The market opened on a positive note and remained positive throughout the session. The State Bank of Pakistan’s bold move to raise the policy rate by 250bps a day earlier provided support to rupee and it made a decent recovery against the US dollar, which also boosted the investors’ confidence.
The KSE-100 Index moved in a range of 714.72 points, showing an intraday high of 44,501.55 and a low of 43,786.83 points, which was the last day’s closing point. Among other indices, the KSE All Share Index gained 380.05 points (+1.27 percent) to close at 30,369.28 points, while KMI All Share Islamic Index gained 248.47 points (+1.15 percent) to close at 21,894.23 points.
A total of 333 companies traded shares in the stock exchange, out of them shares of 238 closed up, shares of 76 closed down while shares of 19 companies remained unchanged. Out of 88 traded companies in the KSE-100 Index, 74 closed up, 13 closed down and one remained unchanged.
The overall market volumes increased by 86.87 million to 227.89 million shares. Total volumes traded for the KSE-100 Index increased by 24.59 million to 93.98 million shares. The number of total trades increased by 13,051 to 83,225, the value traded increased by Rs1.80 billion to Rs6.79 billion and the overall market capitalisation increased by Rs93.52 billion.
Among scrips, TELE topped the volumes with 19.72 million shares, followed by GGL (17.72 million) and TREET (16.88 million). Stocks that contributed significantly to the volumes included TELE, GGL, TREET, CNERGY, and TPLP, which formed around 37 percent of total volumes.
In terms of rupee, BATA remained the top gainer and witnessed an increase of Rs80 (+3.54 percent) per share, closing at Rs2,339.2. The runner-up was INDU, the share price of which climbed up by Rs39.61 (+3.02 percent) to Rs1,349.72. SFL remained the top loser in terms of rupee and witnessed a decrease of Rs60.35 (-7.31 percent) per share, closing at Rs765.25, followed by HINO, the share price of which declined by Rs10.9 (-3.41 percent) to close at Rs309.1 per share.
The sectors taking the index towards the north were commercial banks (328 points), oil & gas exploration companies (81 points), cement (52 points), technology & communication (34 points) and fertilizer (31 points). The most points added to the index were by MEBL (78 points), UBL (67 points), HBL (45 points), MCB (44 points) and LUCK (42 points).
The sectors taking the index towards the south were power generation & distribution (4 points), insurance (3 points), and real estate investment trust and miscellaneous (one point each). The most points taken off the index were by HUBC and IGIHL (4 points each), and MUGHAL, JVDC and EFERT (2 points each).
