RECORDER REPORT
KARACHI: After two dull sessions, Pakistan Stock Exchange (PSX) Wednesday closed on a positive note.
BRIndex100 gained 3.97 points or 0.08 percent to close at 5,066.46 points compared to 5,062.49 points Tuesday. BRIndex100 touched intraday high of 5,099.53 points and intraday low of 5,062.25 points. The share trading volume stood at 233.452 million. Lotte Chemical remained the most traded company in BRIndex100 with a volume of 18.083 million shares.
BRIndex30 opened at 25,950.64 points. It touched intraday high of 26,139.01 points and intraday low of 25,891.59 points. It closed at 25,932.91 points which was -17.73 points or -0.07 percent lower than previous close. Total volume of BRIndex30 stood at 120.131 million shares.
The benchmark KSE-100 increased by 10 points to close 46,486.5 points up from 46,476.73 points. Trading volume at the ready counter improved to 284.384 million, up 29 percent. The market capitalization increased by Rs 1.409 billion to Rs 9.5 trillion.
Analysts said that KSE-100 turned green again albeit nominal. During the intraday trading, the market surged by 283 points vs intraday low of 4 points. The increase in the index was led by buoyancy in autos, fertilizer and banks but major blue chips in these sectors could not sustain price growth. Off-board scrips shared the buoyant sentiment and high volume low value scrips were seen trading at upper circuit, amongst which AGL was prominent, they added.
Ahsan Mehanti of Arif Habib Corp commenting on the market said that stocks closed flat led by select auto, banking and oil scrips on strong valuations.
Recovery in global crude prices, PM tax amnesty scheme over declaration of undeclared assets, upbeat data on cement and fertilizer sales for Mar 2018, rising local cement and auto prices and foreign inflows played a catalyst role in higher close, he added.
Agritech was the volume leader with 19.148 million shares. It gained Re 0.94 to close at Rs 8.31 followed by Lotte Chemical, which gained Re. 0.21 to Rs 11.34 with 19.08 million shares trading. Azgard Nine was the third highest trading share with 13.011 million volume. It closed at Rs 17.05, up Re 0.71.
Island Textile and Exide (Pak) were the top gainers with Rs 41.90 and Rs 21.70 to close at Rs 879.90 and Rs 455.88, respectively. Nestle Pak and Bata (Pak) were the top losers with Rs 130.00 and Rs 99.00 to Rs 12,850.00 and Rs 2,875.00, respectively.
BR Commercial Banks Index closed at 9,397.97 with a net negative change of -40.42 points or a percentage change of -0.43 and a total turnover of 15,157,600. BR Cement Index closed at 6,348.97 with a net negative change of -42.58 points or a percentage change of -0.67 and a total turnover of 17,024,050.
BR Oil and Gas Index closed at 5,590.21 with a net positive change of 30.54 points or a percentage change of 0.55 and a total turnover of 16,476,460. BR Tech. & Comm. Index closed at 1,244.65 with a net positive change of 0.55 points or a percentage change of 0.04 and a total turnover of 15,987,000.
BR Power Generation and Distribution Index closed at 6,840.63 with a net positive change of 11.74 points or a percentage change of 0.17 and a total turnover of 7,999,000.
Sectors contributing to performance include OGMCs (+52pts), Commercial Banks (-45pts), Cement (-36pts) and Power (+11pts). Average traded value also increased by 42 percent DoD to reach $ 97 million against $ 68.1 million a day earlier.
Stocks that contributed significantly to the volumes include AGL, LOTCHEM, ANL, EPCL and SSGC reflecting 24 percent of total volumes.
Scrips that contributed positively included PSO (+27pts), FFC (+23pts), SNGP (+15pts), HUBC (+13pts) and FFBL (+11pts).
Stocks that contributed negatively included UBL (-44pts), EFERT (-16pts), POL (-15pts), ENGRO (-13pts) and FCCL (-11pts).
