KARACHI: The Pakistan stocks market closed in a green zone on Friday after remaining under pressure throughout the day as investors’ participation remained low.
An analyst at Arif Habib Limited said the benchmark KSE-100 Index remained sluggish during the opening half but got active in the second trading session.
“Investors maintained a strategic distance due to political and economic instability. However, due to rollover week, hefty volumes were witnessed in the future contracts that led the index close in the green zone,” he added.
The Pakistan Stock Exchange KSE-100 shares Index gained 114.81 points, or 0.28 per cent to close at 41,128.67 points. The KSE-30 shares Index gained 24.61 points, or 0.16 per cent, to close at 15,336.86 points.
Ahsan Mehanti at Arif Habib Corp said bullish activity was witnessed led by selected scrips as investors weighed strong rupee recovery.
“Speculations over likely support receipts from the World Bank and Asian Development Bank for flood loss relief, and expectations over exit from the grey list of Financial Action Task Force (FATF) next month played a catalyst role in the bullish close,” he added.
As many as 324 scrips were active of which 145 advanced, 154 declined and 25 remained unchanged.
The ready market volumes stood at 205.69 million shares, compared with the turnover of 127.44 million shares in the last trading session.
The companies which reflected the highest gains included Bata (Pak) up Rs106 to close at Rs2,395/share, and Sanofi-Aventis up Rs49 to close at Rs1,198/share.
The companies which reflected the most losses included Siemens Pakistan down Rs44.99 to close at Rs700.01/share, and Bhanero Textile down Rs35.01 to close at Rs1,125/share.
The highest volumes were witnessed in TRG Pakistan with a turnover of 30.19 million shares. The scrip gained Rs5.94 to close at Rs128.86/share, followed by TPL Properties with a turnover of 18.65 million shares. It shed 2 paisas to close at Rs20.84/share. K-Electric remained the third with a turnover of 15.65 million shares. It shed 2 paisas to close at Rs2.98/share.
