Stocks that recorded significant turnover included Byco Petroleum, Hum Network, Modaraba Al-Mal, TRG Pak Ltd, Telecard Limited, Treet Corp, First National Equities, and Aisha Steel Mill. WorldCall Telecom was the highest traded stock with 34.17 million shares, followed by TPL Properties that recorded a turnover of 17.21 million shares. In the second session, the brokerage said, institutional buyers started accumulating value stocks because of attractive multiples, which led the market to close in the green zone. However, foreign selling continued and led the market back into red territory, AHL analysts said adding that activity continued to remain sideways as the market witnessed hefty volumes in the 3rd tier stocks. The market opened with positive momentum as investors perceived the last leg of the foreign selling spree was completed on the last trading day of the week, the brokerage added.
Nestle Pakistan was the worst hit stock of the day as it fell Rs101.67 to Rs5,500.33/share, trailed by Sapphire Fiber that lost Rs59.99 to close at Rs840/share.Īrif Habib Ltd (AHL) in its market wrap said the battle between bulls and bears was conquered by the bulls in the last trading hour. The highest increase was recorded in the share prices of Philip Morris Pakistan, which rose Rs56 to Rs806/share, followed by Siemens Pakistan that jumped Rs43.12 to Rs618.12/share. Topline Securities in a post-market note said the benchmark index largely remained positive during the last trading session of the week as investors came in to amass shares at an attractive valuations near 44,000 points level.Ī major contribution to the index came from HUBC, HBL, LUCK, SYS, and ENGRO, as they together contributed 169 points to the index, whereas PPL, OGDC, TRG, MARI, and POL dragged it down by 80 points. Out of 338 actives in the session, 175 advanced, 146 retreated, while 17 ended neutral. Good Luck and please give us a like or leave a comment. The next resistance to consider as Take Profit will be the major pivot point 21.65. Market capital slightly rose to Rs7.587 trillion from Rs7.574 trillion. Potential entry above 19.00 at which point the stock will have cleared channel resistance and the Fibonacci Golden pocket. Traded shares increased by 94 million to 289.84 million from 195.17 million shares on Thursday, while trading value swelled to Rs10.27 billion from Rs8.39 billion. KSE-30 index gained 94.74 points or 0.56 percent to close at 17,034.02 points. Speculations for likely resumption of IMF program and receipts from Saudi package supported a bullish close, Mehanti added. “Mid-session pressure remained owing to rupee instability and a slump in global equities and crude oil prices.” Pakistan Stock Exchange's (PSX) benchmark KSE-100 Share Index gained 178.41 points or 0.41 percent to close at 44,114.16 points, testing a day high and low of 44,333.66 and 43,736.51 points.Īrif Habib Corp’s Ahsan Mehanti was of the view that stocks showed sharp recovery amid higher trades in oversold stocks and short covering as investors weighed in robust data on textile exports surging by 26.6 percent in July-October FY2022, and remittance over $2.5 billion in October.
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