KARACHI: The Pakistan Stock Exchange (PSX) on Thursday witnessed a bullish trend ahead of the federal budget and reports the deal with the IMF will be signed next week.
The benchmark KSE-100 index gained in early trading and reaches its highest level of 41,994.62 points. It eventually closed after gaining 182.80 points (0.44%) at 41,735.96 points. The total volume of shares dropped to 41.553 million valued at Rs3.556 billion.
The lower bench KSE-30 index gained 72.79 points (0.46%) and closed at 15,949.65 points. The total volume of shares was 58.504 million. The KMI 30 index gained 404.48 points (0.59%) and closed at 68,175.51 points, while the All Share Index increased by 105.18 points (0.37%) and closed at 28,641.22 points. The total volume of share traded were 235.180 million at the stock market.
The highest number of shares traded belonged to TLP Properties Ltd (TPLP 3.50%) which traded 31.801 million shares.
This was followed by WorldCall Ltd (WTL -3.36%), Unity Foods Ltd (UNITY 1.32%), and Hascol Ltd (-9.51%). The number of scrips traded were 28.278 million, 16.821 million, and 14.358 million respectively.
Domestic equities remained in a bullish territory throughout the day on the back of news that a staff-level agreement with the International Monetary Fund (IMF) is likely to reach by next week. Investor sentiments remained upbeat ahead of the budget announcement.
Of the 94 traded companies in the KSE100 Index 59 closed up 31 closed down, while 4 remained unchanged. Total volume traded for the index was 66.32 million shares.
Sectors propping up the index were Oil & Gas Exploration Companies with 44 points, Technology & Communication with 32 points, Power Generation & Distribution with 30 points, Pharmaceuticals with 29 points and Inv. Banks / Inv. Cos. / Securities Cos. with 23 points.
Sector-wise, the index was let down by Commercial Banks with 26 points, Leather & Tanneries with 2 points, and Paper & Board, Modarabas, and Close-end Mutual Fund with one point each
Total companies traded were 328 compared to 321 from the previous session. Of the scrips traded 178 closed up, 120 closed down while 30 remained unchanged. Total trades increased by 24,893 to 98,642. Value Traded increased by 0.99 billion to Rs.5.47 billion.
