KARACHI: Pakistan Stock Exchange on Friday closed on positive note on the back of local investors and institutional support.
BRIndex100 gained 27.45 points or 0.8 percent to close at 3,473.85 points. During the session, the BRIndex-100 hit an intraday high of 3,481.89 and an intraday low of 3,446.40 points. Total volumes stood at 158.614 million shares.
BRIndex30 increased by 179.96 points or 1.03 percent to close at 17,578.25 points with total daily turnover of 110.980 million shares.
KSE-100 index surged by 229.86 points or 0.68 percent and closed at 33,939.49 points. Trading activities also improved as daily volumes on ready counter increased to 198.187 million shares as compared to 168.429 million shares traded on Thursday.
The foreign investors remained net sellers of shares worth $1.219 million. Total market capitalization increased by Rs 22 billion to Rs 6.422 trillion. Out of total 339 active scrips, 169 closed in positive and 149 in negative while the value of 21 stocks remained unchanged. Maple Leaf was the volume leader with 15.199 million shares and gained Rs 1.06 to close at Rs 25.94 followed by Pak Refinery (R) that closed at Re 0.51, down Re 0.23 with 13.033 million shares. Premier Sugar and Service Ind Limited were the top gainers increasing by Rs 33.68 and Rs 32.09 respectively to close at Rs 485.37 and Rs 790.75 while Pak Tobacco and Pak Engineering were the top losers declining by Rs 16.92 and Rs 10.79 respectively to close at Rs 1510.09 and Rs 133.11.
BR Automobile Assembler Index gained 53.04 points or 0.95 percent to close at 5,640.18 points with total turnover of 6.135 million shares.
BR Cement Index surged by 126.63 points or 3.14 percent to close at 4,165.47 points with 45.007 million shares. BR Commercial Banks Index decreased by 44.32 points or 0.66 percent to close at 6,690.49 points with 10.230 million shares.
BR Power Generation and Distribution Index increased by 88.47 points or 2.13 percent to close at 4,251.68 points with 9.113 million shares.
BR Oil and Gas Index inched up by 8.58 points or 0.24 percent to close at 3,564.68 points with 13.063 million shares.
BR Tech & Comm Index lost 28.41 points or 2.11 percent to close at 1,318.18 points with 23.994 million shares.
Danish Ladhani at JS Global Capital said the KSE-100 index closed on a bullish note after making a high of plus 319 points to finally close at 33,939 levels, up 230 points.
On the economic front, SBP decided to slash the country's policy rate further by 100 points 7.0 percent (625bps now cut). Moreover, FX reserves held by SBP decreased by $145.9 million to $9.961 billion during the week.
On the oil front, international oil prices rose, extending gains on optimism about a recovery in fuel demand worldwide, POL (up 1.0 percent) in the E&Ps closed in the positive zone. Financials were the major laggards where HBL (down 1.1 percent) and UBL (down 1.1 percent) closed in the negative trajectory on the back of further interest rate cut whereas Cements was the major mover where DGKC (up 6.8 percent) closed in the upper circuit.
Copyright Business Recorder, 2020
Comments
Comments are closed.