KARACHI: The share market ended with a gain of 75 points on Friday amid thin trading volume during the day. The benchmark KSE-100 index of Pakistan Stock Exchange closed at 45,306 points as against previous day’s closing of 45,230 points, showing an increase of 75 points.
Analysts at Arif Habib Limited said that the market inched up further at the brink of earnings season. Financial results of key companies are due in the coming week, which kept the interest alive although trading volumes remained thin.
Cyclicals including Cement, Steel and Autos performed relatively better. Small caps were favored by investors in comparison with blue chips, whereby GGL which fell yesterday bounced back today.
On the other hand, TELE continued moving upwards despite the meteoric rise this stock has seen in the recent past. Overall trading volumes stood at 173 million shares, which dropped by 50 percent DoD with concentration towards technology stocks.
Among scrips, TELE topped the volumes with 21.4 million shares, followed by GGL (21.4 million) and TRG (16.2 million).
Sectors contributing to the performance include Banks (+27 points), Technology (+19 points), Fertilizer (+18 points), Autos (+13 points) and Auto Parts (+10 points).
Volumes declined from 347.6 million shares to 173.5 million shares (-50 percent DoD). Average traded value also declined by 31 percent to reach US$ 57.2 million as against US$ 82.5 million.
Stocks that contributed significantly to the volumes include GGL, TELE, TRG, WTL and GGGL, which formed 47 percent of total volumes.
Stocks that contributed positively to the index include ENGRO (+16 points), TRG (+15 points), HBL (+9 points), HUBC (+7 points) and PSMC (+7 points). Stocks that contributed negatively include PAKT (-11 points), DGKC (-7 points), FCCL (-5 points), PPL (-5 points) and FFBL (-4 points).
