Karachi: Pakistan Stock Exchange (PSX) KSE-1000 index recorded positive session and rose 0.35 percent in midst of low investor participation. By end of day, KSE-100 Index closed 148.18 points higher to settle at 42,241.98. Following brief upward open, market fell to intra-day low level in first hour. Buying spree gripped market at this point and first session closed in green. Upward trend persisted in second session and accelerated gains.

Banking and oil sectors closed upward while cement, automobile, chemical and fertiliser ended in red.

Sectors propelling benchmark KSE-100 index forward included banking (56.61 points), power generation and distribution (55.97 points) and fertiliser (28.05 points). Volume on all-share index fell to 178.2 million from 255.3 million on Thursday while value of shares traded dropped to Rs 5.8 billion from Rs 9.3 billion recorded in previous session. WorldCall Telecom was volume leader with 17 million shares followed by Sui Northern Gas Pipeline with 13.7 million shares and TPL Properties with 9.7 million shares. Shares of 352 companies were traded of which 151 registered an increase, 170 recorded fall and 31 remained unchanged. Report from Capital Stake added, “Indices swayed in both directions, while volumes dropped from last close.” Report from Arif Habib Limited stated, “Market opened in green, but investor engagement remained low due to weekend, making index fluctuate in both directions”.  Cements and banks remained in limelight, report said.

Published in The Daily National Courier, May, 06 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.