Karachi: Optimism gripped Pakistan Stock Exchange (PSX) and KSE-100 Index ticked up 0.38 percent amid low investor participation. Lack of progress on resumption of International Monetary Fund (IMF) programme kept investors on sidelines. By end of day, KSE-100 Index settled with an increase of 152.48 points to close at 40,000.83 points.

Trading began with jump but market began declining and hit intra-day low by noon. At this point, KSE-100 Index saw renewed buying activity that helped it close in green. Index-heavy cement, chemical, banking and oil spaces closed with modest gains while automobile sector closed in red. On other hand, fertiliser sector ended the day on mixed note.

Sectors driving benchmark KSE-100 Index north included banking (39.41 points), cement (28.12 points) and fertiliser (19.86 points). Volume on all-share index rose to 112.2 million from 88.7 million on Thursday while value of shares traded inched down to Rs 3.93 billion from Rs 3.98 billion recorded in previous session.

Pakistan International Bulk Terminal was volume leader with 12.12 million shares followed by Pak Elektron with 6.52 million shares and Hascol with 4.87 million shares.

Shares of 294 companies were traded on Friday of which 155 registered an increase, 110 recorded fall and 29 remained unchanged.

Report from Capital Stake stated, “Indices swayed in both directions while volumes surged from last close.” “Market started in green and went on to trade both ways as bulls and bears battled for control of bourse throughout day,” it said. However, fresh buying was seen across board during last trading hour, as index ended in green. Main board volumes remained dull while 3rd tier stocks led volume board, AHL said.

Published in The Daily National Courier, April, 01 2023

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