PSX shows recovery: BRIndex100 jumps

KARACHI: Pakistan Stock Exchange Monday witnessed a bullish trend on the back of healthy buying, mainly by local investors.

BRIndex100 gained 33.31 points or 0.79 percent to close at 4,270.42 points. BRIndex100 hit intraday high of 4,276.39 and intraday low of 4,224.54 points. Volumes stood at 352.791 million shares.

BRIndex30 increased by 184.39 points or 0.86 percent to close at 21,596.11 points with a turnover of 251.760 million shares.

The KSE-100 Index surged by 261.73 points or 0.64 percent to once again cross 41,000 psychological level to close at 41,068.82 points. Daily trading volumes on the ready counter stood at 388.554 million shares as compared to 397.792 million shares traded last Friday.

Foreign investors however remained net sellers of shares worth $19.773 million. The market capitalization increased by Rs 34 billion to Rs 7.553 trillion. Out of total 368 active scrips, 230 closed in positive and 122 in negative while the value of 16 stocks remained unchanged.

Hum Network was the volume leader with 88.662 million shares however lost Rs 0.65 to close at Rs 6.15 followed by TRG Pak that increased by Rs 4.65 to close at Rs 66.72 with 31.852 million shares. Nestle Pakistan and Wyeth Pak were the top gainers increasing by Rs 59.99 and Rs 32.75 respectively to close at Rs 6589.99 and Rs 1140.00 while Island Textile and Pak Tobacco were the top losers declining by Rs 119.00 and Rs 40.00 respectively to close at Rs 1481.00 and Rs 1500.00.

BR Automobile Assembler Index increased by 98.03 points or 1.25 percent to close at 7,912.13 points with total turnover of 3.525 million shares.

BR Cement Index gained 46.82 points or 0.81 percent to close at 5,854.92 points with 22.839 million shares.

BR Commercial Banks Index inched up by 44.42 points or 0.52 percent to close at 8,523.55 points with 16.399 million shares.

BR Power Generation and Distribution Index lost 18.36 points or 0.38 percent to close at 4,813.67 points with 22.911 million shares.

BR Oil and Gas Index closed at 3,867.16 points, up 42.72 points or 1.12 percent with 22.234 million shares.

BR Tech. & Comm. Index surged by 68.15 points or 3.25 percent to close at 2,162.95 points with 137.050 million shares.

Maaz Mulla at JS Global Capital said that the PSX showed slight signs of recovery as the KSE-100 Index made an intraday high of plus 308 points and closed at 41,069 level, up 262 points.

A rally was witnessed in the technology sector where TRG (up 7.5 percent), NETSOL (up 6.8 percent) and AVN (up 5.9 percent) gained to close higher than their previous day close.

Steel sector also enjoyed the upward trend where ASL (up 4.2 percent), ISL (up 3.7 percent), ASTL (up 2.8 percent), INIL (up 2.4 percent) and MUGHAL (up 2.6 percent) closed in the green trajectory.

Copyright Business Recorder, 2020