Bulls take KSE-100 close to 46,000 mark


Market watch
Benchmark index gains 316.62 points to settle at 45,922.04
The Pakistan Stock Exchange (PSX) witnessed a bullish trend on Tuesday and the benchmark KSE-100 Index gained 316.62 points (+0.69 percent) to close at 45,922.04.
The KSE-100 Index remained positive throughout the session touching an intraday high of 46,010.74 on the back of several positive economic indicators. Among other indices, KSE All Share Index gained 219.87 (+0.69 percent) and closed at 32,059.11 points while All Share Islamic Index gained 223.99 points (+0.99 percent) and closed at 22,765.03 points.
A total 825,893,776 shares were traded during the day compared to the trade of 588,039,825 shares the previous day whereas the price of shares stood at Rs21.138 billion against Rs17.746 billion on the previous day.
As many as 414 companies transacted shares in the stock market, 272 of them recorded gain and 124 sustained losses whereas the share price of 18 companies remained unchanged.
The three top traded companies were K-Electric Ltd. with a volume of 250,242,000 shares and price per share of Rs4.01, Hum Network with a volume of 68,503,000 and price per share of Rs7.43 and Unity Foods Ltd with a volume of 29,800,575 and price per share of Rs30.60.
Millat Tractors recorded a maximum increase of Rs43.96 per share, closing at Rs1,161.05 whereas Khyber Tobacco was runner-up with the increase of Rs34.03 per share, closing at Rs487.77.
Nestle Pakistan witnessed a maximum decrease of Rs109.60 per share, closing at Rs6660.40 while Gatron Ind share decreased by Rs42.37, closing at Rs522.63.
Investors particularly showed interest in commercial banks due to expectations of healthy dividend payouts, E&P sectors due to increase in the prices of the international oil and automobile sector because of the announcement of volumetric sale data by PAMA.
Of the 96 traded companies in the KSE-100 Index, 61 closed up, 32 closed down, while 3 remained unchanged. Total volume traded for the index was 506.70 million shares, i.e. highest since September 10, 2020.
Sectors propping up the index were technology & communication with 77 points, commercial banks with 54 points, oil & gas exploration companies with 54 points, automobile assembler with 33 points and vanaspati & allied industries with 25 points.
The most points added to the index was by TRG which contributed 60 points followed by HBL with 34 points, OGDC with 31 points, KEL with 31 points and PPL with 25 points.
Sector wise, the index was let down by fertilizer with 14 points, pharmaceuticals with 13 points, food & personal care products with 6 points, investment banks / investment companies/ securities companies with 2 points and synthetic & rayon with 2 points.
The most points taken off the index was by SEARL which stripped the index of 14 points followed by HUBC with 13 points, MARI with 11 points, FFC with 10 points and NESTLE with 6 points.
In the KSE All Share Index, total companies traded were 414 compared to 415 from the previous session. Of the scrips traded, 272 closed up, 124 closed down while 18 remained unchanged.