KARACHI: Pakistan Stock Exchange Wednesday witnessed a mixed trend, however closed on a positive note due to select buying, mainly by local investors at the fag end. BRIndex100 gained 17.25 points or 0.42 percent to close at 4,156.91 points. BRIndex100 hit intraday high of 4,163.96 and intraday low of 4,122.70 points. Volumes stood at 208.831 million shares.
BRIndex30 increased by 149.28 points or 0.71 percent to close at 21,085.64 points with a turnover of 152.381 million shares.
The KSE-100 Index surged by 137.61 points or 0.34 percent and closed at 40,144.29 points. Trading activities remained thin as daily volumes at the ready counter decreased to 232.803 million shares as compared to 290.136 million shares traded on Tuesday.
Foreign investors however remained net sellers of shares worth $1.377 million. Total market capitalization increased by Rs 23 billion to Rs 7.493 trillion. Out of total 408 active scrips, 286 closed in positive and 108 in negative while the value of 14 stocks remained unchanged.
Hascol Petroleum was the volume leader with 24.029 million shares and gained Rs 0.29 to close at Rs 15.77 followed by Unity Foods that inched up by Rs 0.34 to close at Rs 17.01 with 21.504 million shares. Island Textile and Bhanero Textile were the top gainers increasing by Rs 66.95 and Rs 41.01 respectively to close at Rs 959.70 and Rs 999.99 while Philip Morris Pak and Sapphire Textile were the top losers declining by Rs 99.28 and Rs 50.01 respectively to close at Rs 1600.00 and Rs 730.00.
BR Automobile Assembler Index gained 21.89 points or 0.29 percent to close at 7,541.20 points with total turnover of 2.881 million shares.
BR Cement Index inched up by 26.05 points or 0.46 percent to close at 5,718.00 points with 32.710 million shares.
BR Commercial Banks Index closed at 8,260.27 points, up 9.27 points or 0.11 percent with 10.236 million shares.
BR Power Generation and Distribution Index increased by 34.22 points or 0.73 percent to close at 4,719.95 points with 14.791 million shares.
BR Oil and Gas Index gained 2.43 points or 0.06 percent to close at 3,851.13 points with 30.126 million shares.
BR Tech. & Comm. Index surged by 23.08 points or 1.37 percent to close at 1,710.63 points with 27.463 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks showed recovery amid surging global crude oil prices and speculations in the earnings season. Mid-session pressure remained on political noise, uncertainty over FATF decision on exit from grey list and concerns for IMF warnings over subdued growth at 01 percent, higher current account deficit at negative 2.5 percent for FY21.
He said strong data on cement and auto sales for September 2020, rupee stability and upbeat data on remittances for September 2020 played a catalyst role in bullish close.
Copyright Business Recorder, 2020
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