Stocks took a breather on Friday following a strong comeback in the previous session at Pakistan Stock Exchange (PSX) as investors awaited for the much hyped up budget announcement, on a day full of speculations.
On Friday, the market opened on a positive note and touched an intra day high of 48,531 level over budget excitement, and upbeat growth prospects of PSX, which was revealed in the Economic Survey 2021.
“Pakistan Stock Exchange has emerged as the best performing market in Asia and fourth best performing market in the world,” Finance Minister Shaukat Tarin said after unveiling the Economic Survey on Thursday.
However, in the second session, the index entered into consolidation as profit-taking was witnessed across the board, following which the index touched intra day low of 48,245 level. By the closing bell, the benchmark index clocked at 48,304 level after posting 53 points gain.
During the session Market Capital increased by Rs 7.89 Billion, while total value traded decreased by 1.47 Billion to Rs.24.88 Billion
The volume at kse-100 clocked in at 373.9 million shares, while volume at all shares index stood at 1.024 billion shares.
At kse-100 the volume chart was led by WorldCall Telecom Limited followed by Byco Petroleum Pakistan Limited and Agritech Limited. The scrips exchanged 120.8 million, 96.96 million and 59.65 million shares.
As per the National Clearing Company of Pakistan limited (NCCPL) foreign investors were net sellers of worth $1.6 million worth of shares.
Among local investors, Individuals led the selling chart and offloaded $12.5 million worth of equities.
However, Companies, Mutual Funds and Brokers led the buying chart and mopped up about $5.5 million, $4.8 million, $2.33 million worth of equities.
During the session, sectors which lifted the index were Fertilizer with 44 points, Commercial Banks with 22 points, Refinery with 17 points, Automobile Assembler with 17 points and Investment Banks with 7 points.
Among the scrips, the most points added to the index was by Fauji Fertilizer Company Limited which contributed 19 points followed by Engro Fertilizers Limited with 17 points, Millat Tractors Limited with 16 points, Habib Metropolitan Bank Limitedwith 13 points and Oil & Gas Development Company Limited with 11 points.
However, sectors which dented the index were Cement with 28 points, Technology & Communication with 12 points, Textile Composite with 6 points, Oil & Gas Marketing Companies with 5 points and Power Generation & Distribution with 4 points.
Among the scrips, the most points taken off the index was by TRG Pakistan which stripped the index of 30 points followed by DG Khan Cement with 13 points, Pakistan State Oil with 12 points, Pakistan Petroleum Limited with 10 points and Lucky Cement with 9 points.