Toeing the global stock markets, the Pakistan Stock Exchange (PSX) remained positive in a volatile session on Wednesday, with the benchmark KSE-100 Index gaining 120.74 points (+0.27 percent) to close at 45,132.92 points.
The market opened on a positive note, as the investors welcomed the incentive package for the IT sector, and remained in the green territory for the first two-and-a-half hours of the session. Later, the market took a dip and remained in the red territory till the last half hour buying led the index to close in green. Heightened geopolitical risks combined with rising inflationary concerns have added to the pressure on stock in recent weeks.
The KSE-100 Index moved in a range of 478.98 points, showing an intraday high of 45,235.21 points and a low of 44,756.23 points. Among other indices, the KSE All Share Index gained 34.66 points (+0.11 percent) to close at 30,880.02 points, while KMI All Share Islamic Index gained 57.21 points (+0.26 percent) to close at 22,338.42 points.TLTP
A total of 361 companies traded shares in the stock exchange, out of them shares of 179 closed up, shares of 163 closed down while shares of 19 companies remained unchanged. Out of 92 traded companies in the KSE-100 Index, 48 closed up and 44 closed down.
The overall market volumes decreased by 40.82 million to 186.36 million shares. Total volumes traded for the KSE-100 Index decreased by 17.71 million to 94.49 million shares. The number of total trades decreased by 17,243 to 95,381, while the value traded decreased by Rs0.82 billion to Rs6.80 billion. Overall, market capitalisation increased by Rs8.65 billion.
Among scrips, BOP topped the volumes with 13.63 million shares, followed by TELE (12.29 million) and WTL (11.56 million). Stocks that contributed significantly to the volumes included BOP, TELE, WTL, MLCF and TPLP, which formed around 31 percent of total volumes.
In terms of rupee, RMPL remained the top gainer for the second straight day and witnessed an increase of Rs101 (0.99 percent) per share, closing at Rs10,300, whereas the runner-up was PAKT, the share price of which climbed up by Rs37.99 (3.77 percent) to Rs1,046. NESTLE remained the top loser in terms of rupee and witnessed a decrease of Rs144.9 (2.08 percent) per share, closing at Rs5,600, followed by COLG, the share price of which declined by Rs50 (2.08 percent) to close at Rs2,350 per share.
The sectors taking the index towards north were cement with 69 points, commercial banks (48 points), automobile assembler (19 points), tobacco (12 points) and technology & communication (11 points). The most points added to the index were by UBL which contributed 58 points followed by MLCF (26 points), MARI (19 points), HMB (17 points) and MTL (15 points).
The sectors taking the index towards south were oil & gas marketing companies with 15 points, textile composite (13 points), insurance (12 points), investment banks/ investment companies/ securities companies (6 points) and pharmaceuticals (4 points). The most points taken off the index were by MEBL which stripped the index of 22 points followed by NML (12 points), ENGRO (10 points), and POL and COLG (9 points each). TLTP