RECORDER REPORT
KARACHI: Pakistan Stock Exchange (PSX) closed the week on a positive note on Friday, with the benchmark KSE-100 Index gaining nearly 400 points, although trading remained largely range-bound and investors stayed cautious despite strong individual corporate earnings announcements.
The KSE-100 Index increased 399.13 points, or 0.23 percent, to 175,328.82, compared with Thursday’s close of 174,929.69. The benchmark moved within a relatively narrow range during the session, touching an intraday high of 175,418.29 and a low of 174,515.39.
The BRIndex100 closed at 19,359.39, up 41.55 points, or 0.22%, with total turnover of 603.26 million shares, compared with 381.23 million shares on Thursday. The BRIndex30 rose 282.40 points, or 0.40%, to 71,381.77 while its volume increased to 355.18 million shares from 234.94 million shares.
According to Topline Securities, the market remained range-bound during the final trading session of the week, with lacklustre activity largely reflecting investors’ preference to remain on the sidelines.
The modest index gain was supported by selected heavyweight stocks. MEBL, BAHL, MARI, PPL and OGDC emerged as the leading positive contributors, collectively adding around 250 points to the index. Their impact was partly offset by selling pressure in UBL, ATRL, PSEL, CNERGY and FFC, which collectively dragged the benchmark down by approximately 212 points.
Trading activity increased substantially in the ready market on Friday. Ready market turnover climbed to 874.32 million shares, compared with 627.45 million shares on Thursday, an increase of 246.88 million shares, or 39.35%.
Traded value also increased to Rs32.42 billion, from Rs25.19 billion a day earlier, rising by approximately Rs7.23 billion, or 28.71%.
Despite the increase in trading activity, the rise in market capitalisation remained relatively modest. Total market capitalization increased by Rs42.58 billion, reaching Rs19.629 trillion, compared with Rs19.587 trillion in the preceding session.
Market breadth was positive but relatively balanced, with 235 companies advancing, 218 declining and 43 remaining unchanged out of 496 active issues.
Cnergyico PK emerged as the most actively traded stock in the ready market, with 149.30 million shares changing hands and closed at Rs13.92.
Tasdeeq Information followed with 132.41 million shares. It closed the day at Rs4.36.
WorldCall Telecom recorded 78.72 million shares. It closed at Rs1.13, unchanged from the previous close.
In regular-market price movements, Buxly Paints Limited recorded the largest absolute gain, rising Rs71.63 to Rs989.14, followed by Premium Textile Mills Limited, which gained Rs28.47 to close at Rs529.68.
On the losing side, The Thal Industries Corporation Limited posted the largest absolute decline, falling Rs113.90 to Rs1,025.10, while Unilever Pakistan Foods Limited declined Rs91.75 to settle at Rs25,557.25.
The BR Automobile Assembler Index gained 62.95 points, or 0.26%, to 23,891.90, with turnover of 4.93 million shares.
The BR Cement Index advanced 86.33 points, or 0.71%, to 12,297.44, with turnover of 31.21 million shares.
The BR Commercial Banks Index rose 151.97 points, or 0.25%, to 60,977.63, on turnover of 23.80 million shares.
The BR Power Generation and Distribution Index increased 70.79 points, or 0.27%, to 26,561.67, with turnover of 12.41 million shares.
The BR Oil and Gas Index gained 83.11 points, or 0.55%, to 15,255.79, with turnover of 41.98 million shares.
The BR Tech. & Comm. Index recorded the strongest sectoral volume, with 146.31 million shares, while its index gained 14.04 points, or 0.40%, to 3,514.12.
Overall, the final session of the week combined a modest improvement in benchmark indices with a substantial pickup in trading activity. However, analysts say the market’s relatively narrow trading range and balanced breadth indicated that investors remained cautious.
