KARACHI: The KSE-100 index gained 406.50 points after range-bound trading during the fourth trading session this week. The positive trend was mainly due to positive news on the political front and economic data.
The Karachi Share Index (KSE-100) closed up by 406.50 points (0.94 per cent) after closing at 43,766.69 points against the previous closing of 43,360.19 points. The market went up to 43,792.57 points during intra-day trading, while recorded as low as 43,360.19 points.
Trading volume increased to 497.56 million shares today as compared to 433.02 million traded in the previous session, according to PSX website data. The daily traded value increased to Rs 22.548 billion from Rs 21.383 billion in the previous session, the data said.
According to the AKD Securities, the market was positive throughout the day on Thursday as the investors were showing confidence on oil and exploration, banks and cement stocks.
The data of Large Scale Manufacturing (LSM) recovery remained impressive yet again with growth of 6.66% YoY seen in Oct-2020, taking 4MFY21 growth to 5.46%, the analyst said adding the other data released by the SBP and FBS are good for the economy.
Preliminary data suggested that foreign corporates likely continued to be net sellers (likely banks and oil & gas) with selective interest in other sectors.
Pakistan Refinery Limited (PRL) has recorded the highest volumes for the day with 45.135 million shares traded followed by PAEL (~41,731mn shares traded) and KE (~29mn shares).
The share of Khyber Tobacco increased by Rs 30 to close at Rs 430 today while Gillete Pak increased Rs 29.42 closing at Rs 421.78. Meanwhile Rafhan Maize went down by Rs 100 closing at Rs 9000 and Nestle Pakistan down by Rs 30 to close at Rs 6900.