KARACHI: Pakistan Stock Exchange witnessed bullish trend on Monday on the back of local investors and institutional support.
BRIndex100 gained 67.43 points or 1.74 percent to close at 3,944.02 points. During the session, the BRIndex-100 hit an intraday high of 3,956.17 and an intraday low of 3,875.72 points. Total volumes stood at 258.770 million shares.
BRIndex30 increased by 334.78 points or 1.69 percent to close at 20,142.17 points with total daily turnover of 158.690 million shares.
KSE-100 index surged by 613.54 points or 1.63 percent and closed at 38,221.16 points. Trading activities also improved as daily volumes on ready counter increased to 288.103 million shares as compared to 266.531 million shares traded on previous session.
The foreign investors however remained on the selling side and withdrew $3.254 million from the Pakistan capital market. Total market capitalization increased by Rs 82 billion to Rs 7.154 trillion. Out of total 376 active scrips, 232 closed in positive and 129 in negative while the value of 15 stocks remained unchanged.
Pak Elektron was the volume leader with 28.921 million shares and increased by Rs 1.88 to close at Rs 30.79 followed by TRG Pak that surged by Rs 2.87 to close at Rs 41.15 with 19.999 million shares. Millat Tractors and Hinopak Motor were the top gainers increasing by Rs 51.14 and Rs 39.72 respectively to close at Rs 857.93 and Rs 599.72 while Island Textile and Bhanero Textile were the top losers declining by Rs 85.00 and Rs 71.94 respectively to close at Rs 1100.00 and Rs 893.00.
BR Automobile Assembler Index surged by 182.00 points or 2.55 percent to close at 7,309.15 points with total turnover of 9.063 million shares.
BR Cement Index increased by 103.4 points or 2.14 percent to close at 4,938.00 points with 28.801 million shares.
BR Commercial Banks Index gained 252.53 points or 3.34 percent to close at 7,814.81 points with 39.087 million shares.
BR Power Generation and Distribution Index inched up by 23.77 points or 0.52 percent to close at 4,620.78 points with 12.892 million shares.
BR Oil and Gas Index closed at 3,931.54 points, up 29.42 points or 0.75 percent with 20.297 million shares.
BR Tech & Comm Index gained 46.11 points or 3.14 percent to close at 1,512.43 points with 39.381 million shares.
Maaz Mulla at JS Global Capital said that bears were defeated in the session as the KSE-100 index opened positive and touched a high of plus 684 points as institutional participation was witnessed in the main board stocks.
The market remained green throughout the day and closed at 38,221 level, up 613 points.
Overall volumes stood at 288 million shares, while value traded stood at $79 million. PAEL (up 6.5 percent), TRG (up 7.5 percent) and PRL (down 4.5 percent) cumulatively contributed almost 67 million shares to the total volume.
FFC (up 0.9 percent) from the fertilizer sector declared its first half of CY20 result, where the company posted an EPS of Rs 7.69 and a cash payout of Rs 2.75/ per share.
Cement sector gained to close higher where DGKC (up 3.4 percent), LUCK (up 2.5 percent), KOHC (up 1.5 percent), CHCC (up 2.7 percent), PIOC (up 2.2 percent) and MLCF (up 1.0 percent) were the major movers of the day.
Banking sector also enjoyed the upward trend where MEBL (up 6.7 percent), BAHL (up 5.4 percent), HBL (up 5.1 percent) and UBL (up 2.4 percent) closed in the green region.
Copyright Business Recorder, 2020
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