PSX on positive note on 5th consecutive day: BRIndex100 gains 7.35 points

KARACHI: Despite foreign selling, Pakistan Stock Exchange closed on positive note on the fifth consecutive day on the back of local investors and institutional support. The market remained bullish during the week despite deadly terrorist attack on PSX building on Monday morning.

BRIndex100 gained 7.35 points or 0.2 percent to close at 3,603.57 points on Friday. During the session, the BRIndex-100 hit an intraday high of 3,609.54 and an intraday low of 3,589.70 points. Total volumes stood at 151.454 million shares.

BRIndex30 closed at 18,344.63 points, down 35.77 points or 0.19 percent with total daily turnover of 100.909 million shares.

KSE-100 index increased by 73.20 points or 0.21 percent and closed above 35,000 psychological level at 35,051.38 points. Trading activities however remained thin as daily volumes on ready counter decreased to 175.761 million shares as compared to 383.084 million shares traded on Thursday.

The foreign investors remained net sellers of equities worth $1.4 million. Total market capitalization increased by Rs 10 billion to Rs 6.642 trillion. Out of total 346 active scrips, 172 closed in negative and 155 in positive while the value of 19 stocks remained unchanged.

TRG Pak was the volume leader with 23.306 million shares and increased by Rs 2.08 to close at Rs 33.24 followed by Jahangir Siddiqui Co that closed at Rs 13.08, down Re 0.01 with 12.745 million shares. Mari Petroleum and Ferozsons (Lab) were the top gainers increasing by Rs 23.12 and Rs 21.43 respectively to close at Rs 1245.77 and Rs 333.77 while Archroma Pak and Sapphire Textile were the top losers declining by Rs 15.24 and Rs 15.01 respectively to close at Rs 555.56 and Rs 909.99.

BR Automobile Assembler Index gained 5.15 points or 0.09 percent to close at 5,766.44 points with total turnover of 1.044 million shares.

BR Cement Index decreased by 41.4 points or 0.93 percent to close at 4,407.08 points with 13.871 million shares.

BR Commercial Banks Index inched up by 24.58 points or 0.36 percent to close at 6,858.65 points with 13.113 million shares.

BR Power Generation and Distribution Index lost 21.31 points or 0.49 percent to close at 4,333.79 points with 9.606 million shares.

BR Oil and Gas Index fell by 8.12 points or 0.22 percent to close at 3,672.16 points with 7.836 million shares.

BR Tech & Comm Index closed at 1,424.64 points, up 6.29 points or 0.44 percent with 51.784 million shares.

Maaz Mulla at JS Global Capital said the market remained range-bound, making an intraday high and low of plus 127 points and minus 60 points respectively, to finally close at 35,051 levels, up 0.2 percent.

Profit booking was witnessed in the Cement sector where LUCK (down 1.1 percent), CHCC (down 1.1 percent), DGKC (down 0.5 percent), PIOC (down 1.0 percent) and MLCF (down 1.6 percent) closed lower than their previous day's close.

Pharma sector continued its upward trend where FEROZ (up 6.9 percent), SEARL (up 5.3 percent), GLAXO (up 2.7 percent) and AGP (up 1.9 percent) were the major movers of the mentioned sector.

UBL (up 1.8 percent) and HBL (up 0.8 percent) from the banking sector closed in the green zone, while on the flipside MCB (down 0.6 percent) and NBP (down 1.5 percent) closed in the red trajectory.

Copyright Business Recorder, 2020