KARACHI: Pakistan Stock Exchange on Tuesday witnessed bullish trend on the back of healthy buying by local and foreign investors coupled with institutional support.
BRIndex100 gained 84.64 points of 2.04 percent to close at 4,230.04 points. During the session, the BRIndex-100 hit an intraday high of 4,248.24 and an intraday low of 4,145.43 points. Total volumes stood at 522.551 million shares.
BRIndex30 increased by 610.24 points or 2.88 percent to close at 21,819.30 points with total daily turnover of 375.588 million shares.
KSE-100 index surged by 644.39 points or 1.61 percent and once again crossed 40,000 points psychological level to close at 40,559.15 points. Trading activities also improved as daily volumes on ready counter increased to 600.041 million shares as compared to 576.547 million shares traded on Monday.
The foreign investors also remained net buyers of shares worth $3.838 million. Total market capitalization increased by Rs 93 billion to Rs 7.491 trillion. Out of total 416 active scrips, 254 closed in positive and 139 in negative while the value of 23 stocks remained unchanged.
Hascol Petroleum was the volume leader with 65.446 million shares and increased by Rs 1.11 to close at Rs 15.99 followed by K-Electric that gained Re 0.20 to close at Rs 3.88 with 36.002 million shares. Unilever Foods and Island Textile were the top gainers increasing by Rs 590.00 and Rs 67.92 respectively to close at Rs 9590.00 and Rs 989.25 while Nestle Pakistan and Colgate Palmolive were the top losers declining by Rs 40.40 and Rs 34.75 respectively to close at Rs 6302.75 and Rs 2340.00.
BR Automobile Assembler Index declined by 175.13 points or 2.13 percent to close at 8,065.17 points with total turnover of 9.801 million shares.
BR Cement Index increased by 107.07 points or 1.96 percent to close at 5,576.68 points with 61.957 million shares.
BR Commercial Banks Index gained 91.88 points or 1.13 percent to close at 8,252.79 points with 35.580 million shares.
BR Power Generation and Distribution Index surged by 343.91 points or 7.11 percent to close at 5,182.65 points with 72.462 million shares.
BR Oil and Gas Index inched up by 116.8 points or 2.94 percent to close at 4,087.81 points with 115.790 million shares.
BR Tech & Comm Index closed at 1,599.33 points, down 17.33 points or 1.07 percent with 69.380 million shares.
An analyst at Arif Habib Limited said that the market opened on a positive note with plus 135 points and in total added 791 points to the KSE-100 index during the session.
Banks, E&P, OMCs, Cement and Fertilizer stocks helped the index stage recovery from selling that was observed in the past couple of sessions.
The real head turner happened to be HUBC and KAPCO, of which both hit upper circuit on anticipation of resolution of issues with GOP, as indicated by Advisor to PM on Finance. International crude oil prices remained on the upside, which made E&P stocks post price gains.
Increase in fertilizer prices also contributed to buying activity in Fertilizer sector. Among O&GMCs, SSGC and HASCOL hit upper circuits. O&GMCs posted the most volume with 94.6 million shares, followed by Cement (75.1 million shares) and Power (72.4 million shares).
Sectors contributing to the performance include Power (up 166 points), E&P (up 147 points), Banks (up 107 points), Cement (up 81 points) and O&GMCs (up 64 points).
Stocks that contributed positively to the index include HUBC (up 128 points), PPL (up 81 points), UBL (up 45 points), LUCK (up 43 points) and OGDC (up 39 points). Stocks that contributed negatively include TRG (down 18 points), BAHL (down 15 points), MTL (down 10 points), INDU (down 9 points) and HCAR (down 6 points).
Copyright Business Recorder, 2020
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