Pakistan Stock Exchange (PSX) concluded fiscal year 2021 on wednesday, posting a 37 per cent return as compared to a paltry 1.5% in FY20.
The index closed at 47,356 by gaining a mammoth 12,934 points during the fiscal year as against a minor gain of 520 points in FY20. However, on a monthly basis, the index posted a return of 0.5% in June’21.
On Wednesday, however, the trading activity remained cautious in a range bound session as balancing of portfolio positions by institutional investors continued on the last day of the fiscal year 21.
The trading kicked off on an upbeat note right after the opening bell, however, the earlier gains were pared briefly in the afternoon before strong investor sentiment triggered cherry-picking, which continued for the rest of the day, helping the market post moderate gains.
The Index touched intraday high of 47,460.31 and intra day and clocked at 47,356.02 level- posting 218 points gain.
During the session, Oil and Gas sector witnessed greater activity than average following OGRA’s decision to increase POL prices, which influenced investors’ trading strategy.
Arif Habib Limited, in its report, stated that “The banking sector witnessed aggressive buying of MCB and NBP stocks in the last half hour, whereas refineries saw life coming back to an otherwise slow moving Pakistan Refinery and Attock Refinery stocks,”
During the session, the market capital increased by Rs.57..57 billion, while total value traded decreased by 1.28 billion to Rs.15.88 billion.
The volume at kse-100 receded from 205.46 million shares recorded in the previous session to 152.99 million shares, while the all share index recorded volume of about 549.66 million shares.
At kse-100 the volume chart was led by Silk Bank Limited followed by WorldCall Telecom Limited and TPL Corp Limited. The scrips exchanged 44.2 million, 43.24 million and 31.85 million shares.
As per the National Clearing Company of Pakistan limited (NCCPL) foreign investors were net sellers of worth $2.9 million worth of shares.
Among local Individuals, Mutual Funds and Insurance Companies led the selling chart, which offloaded $1.9 million, $1.53 million worth of equities.
However, Companies and other organizations led the buying chart, and mopped up about $4.18 million, $2.86 million worth of equities.
During the session, sectors which lifted the index were Commercial Banks with 77 points, Oil & Gas Exploration Companies with 57 points, Pharmaceuticals with 28 points, Investment Banks with 21 points and Oil & Gas Marketing Companies with 21 points.
Among the scrips, the most points added to the index was by Muslim Commercial Bank which contributed 65 points followed by Pakistan Petroleum Limited with 23 points, Mari petroleum company with 21 points, National Bank of Pakistan with 19 points and Bank al Falah Limited with 17 points.
However, sectors which dented the index were Fertilizer with 36 points, Technology & Communication with 22 points, Automobile Assembler with 7 points, Glass & Ceramics with 3 points and Automobile Parts & Accessories with 3 points.
Among the scrips, the most points taken off the index was by Habib Bank Limited which stripped the index of 49 points followed by ENGRO with 27 points, TRG Pakistan with 19 points, Cherat Cement Company Limited with 12 points and Indus Motors with 7 points.