BRIndex100 gains 39.16 points

Despite foreign selling, Pakistan Stock Exchange Thursday witnessed a positive trend on the back of fresh buying by local investors on available attractive levels. BRIndex100 gained 39.16 points or 0.93 percent to close at 4,264.84 points. BRIndex100 touched intraday high of 4,268.76 and intraday low of 4,226.09 points. Volumes stood at 165.615 million shares. BRIndex30 increased by 222.27 points or 1.05 percent to 21,378.45 points with total volumes of 114.283 million shares.
The benchmark KSE-100 index surged by 337.47 points to close above 40,000 crucial level at 40,010.36 points. Trading activity also improved as daily volumes on the ready counter increased to 180.780 million shares as compared to 114.913 million shares traded Wednesday.
Foreign investors were net sellers of shares worth $19.8 million. The market capitalization increased by Rs 39 billion to Rs 8.375 trillion. Out of total 353 active scrips, 189 closed in positive, 143 in negative while the value of 21 stocks remained unchanged.
TRG Pakistan was the volume leader with 23.340 million shares. It gained Re 0.96 to close at Rs 38.77 followed by Engro Corporation that increased by Re 0.81 to close at Rs 262.32 with 22.761 million shares. Bata Pak and Khyber Tobacco were the top gainers with Rs 84.50 and Rs 64.10, respectively to close at Rs 2,450.00 and Rs 1,499.00. Sanofi-Aventis and Atlas Battery were the top losers with Rs 49.95 and Rs 28.42, respectively to close at Rs 1,441.05 and Rs 540.06.
BR Commercial Banks Index increased by 145.13 points or 1.91 percent to close at 7,731.45 points with total turnover of 18.197 million shares. BR Cement Index closed at 4,980.73 points, up 7.42 points or 0.15 percent with total volumes of 7.905 million shares. BR Oil and Gas Index lost 14.97 points or 0.3 percent to close at 4,971.60 points with 29.899 million shares.
BR Tech. & Comm. Index inched up by 11.08 points or 0.93 percent to close at 1,203.63 points with 24.984 million shares. BR Power Generation and Distribution Index gained 52.75 points or 0.83 percent to close at 6,422.37 points with total turnover of 17.172 million shares. Maaz Mulla at JS Global Capital said that the market witnessed slight positive sentiments, closing the KSE-100-index up by 173 points at 40,010 level. Market witnessed recovery in the trading session as the government made its fifth foray into the international bonds market during its current term, successfully raising another $2.5 billion through $1.5 billion of 10-yr Eurobonds and $1.0 billion of 5-year Sukuks and as MSCI semiannual rebalancing took place. Local institutions took the opportunity to buy stocks at attractive prices. Some of the major gainers for the day were UBL (up 4.14 percent), HBL (up 1.29 percent) and MCB (up 3.42 percent) that steered the market upward by plus 160 points. On the flipside KAPCO (down 1.52 percent) and SNGP (down 4.83 percent) were the major laggards. Local buyers took the opportunity to accumulate the stock on dips. Overall rally was witnessed in the banking sector where big banks boosting the index to close in green. Selling pressure was witnessed in gas utilities where SNGP (down 4.83 percent) and SSGC (down 2.28 percent) closed in the red zone. E&P sector gained to close (up 0.2 percent) higher than its previous day close where POL (up 1.31 percent) and PPL (up 0.07 percent) closed positive.