KARACHI: The Pakistan Stock Exchange finished the week on a high note, with the benchmark KSE-100 index rising 118 points, or 0.25 percent, to 48,211 points at the close of trade.
By the conclusion of the day, almost 317.4 million shares had changed hands for a total value of almost Rs14.09 billion.
A total of 395 firms’ stocks were traded, with 232 gaining value, 139 losing value, and 24 remaining constant.
Worldcall Telecom Ltd (WTL) led the way in terms of volume, with 89.04 million shares exchanged. With volumes of 78.8 million, 54.6 million, 45.3 million, and 35.9 million, Hascol, BYCO, First Capital Securities Corporation (FCSC), and Pakistan Telecommunication Company Ltd (PTC) rounded out the top five symbols traded.
WTL fell 1.40 percent to Rs3.51; Hascol rose 7.78 percent to Rs7.78 percent; BYCO rose 2.42 percent to Rs11.44; FCSC rose 19.46 percent to Rs3.07; and PTC rose 5.80 percent to Rs11.86.
According to Topline Securities, UBL, BAFL, GLAXO, HCAR, and MARI contributed the most to the KSE-100 Index. The firms “added 79 points to the index altogether,” according to the report.
“Today’s volume and value of traded shares were 864 million shares and Rs.26.5 billion, respectively. “With 89 million shares traded, WTL once again leads the exchange in terms of volume,” stated Topline.
According to JS Research, the KSE-100 saw “bullish momentum” this week, gaining 1,085 points or 2.3 percent.
Positive emotions were fueled by declining COVID-19 instances and increased revisions in growth predictions, according to JS research.
The business stated that investor involvement remained stable during the week, but that average volumes fell to 1,122 million, or -9.4%, week over week, while the average value traded grew to US$192 million, or 8.3%
“On a sector-wise basis, Engineering (+9.6% WoW), Autos (+6.6% WoW), and Oil & Gas Marketing Companies (+6.3% WoW) were the key outperformers. Refineries (+6.1% WoW) also beat the benchmark index over expectations that the Refinery Policy will be announced soon while the rally in Cement (+3.2% WoW) can be attributed to anticipation of strong sales growth during May-2021,” said JS Research.