KARACHI: A bullish trend continued Tuesday due to local investors and institutional support. Pakistan Stock Exchange closed on strong positive note with healthy gains.
BRIndex100 gained 65.21 points or 1.53 percent to close at 4,335.63 points. BRIndex100 hit intraday high of 4,347.80 and intraday low of 4,270.42 points. Volumes stood at 450.995 million shares.
BRIndex30 increased by 406.11 points or 1.88 percent to close at 22,002.22 points with a turnover of 317.895 million shares.
The KSE-100 Index surged by 596.45 points or 1.45 percent to close at 41,665.27 points. Trading activity also improved as daily volumes on the ready counter increased to 489.632 million shares as compared to 388.554 million shares traded Monday.
Foreign investors however remained net sellers of shares worth $5.481 million. The market capitalization increased by Rs 95 billion to Rs 7.648 trillion. Out of total 393 active scrips, 281 closed in positive and only 84 in negative while the value of 28 stocks remained unchanged.
Unity Foods was the volume leader with 67.865 million shares and increased by Rs 1.81 to close at Rs 27.47 followed by TRG Pak that gained Rs 0.68 to close at Rs 67.40 with 37.162 million shares. Pak Tobacco and Packages Limited were the top gainers increasing by Rs 100.00 and Rs 38.44 respectively to close at Rs 1600.00 and Rs 551.14 while Nestle Pakistan and Indus Dyeing were the top losers declining by Rs 89.99 and Rs 33.88 respectively to close at Rs 6500.00 and Rs 500.01.
BR Automobile Assembler Index increased by 102.73 points or 1.3 percent to close at 8,014.86 points with total turnover of 6.273 million shares.
BR Cement Index gained 76.48 points or 1.31 percent to close at 5,931.40 points with 42.210 million shares.
BR Commercial Banks Index inched up by 69.8 points or 0.82 percent to close at 8,593.35 points with 30.547 million shares.
BR Power Generation and Distribution Index surged by 215.66 points or 4.48 percent to close at 5,029.33 points with 18.770 million shares.
BR Oil and Gas Index added 39.69 points or 1.03 percent to close at 3,906.85 points with 30.225 million shares.
BR Tech. & Comm. Index closed at 2,167.74 points, up 4.79 points or 0.22 percent with 85.104 million shares.
An analyst at Arif Habib Limited said that the market opened on a positive note with plus 23 points. Buying activity was observed across the board, however, Power Sector (HUBC) contributed heavily. Cement, Fertilizer, Banks, E&P and OMCs also helped the Index put a formidable number.
International crude oil prices inched up as well during the session, which helped the E&P Sector saw brisk buying activity. Earlier in the session, FBR reportedly facilitated Investors by announcing collection of CGT once a year in comparison with monthly collection as practiced earlier.
Sectors contributing to the performance include Power (up 121 points), Banks (up 78 points), Cement (up 54 points), Fertilizer (up 54 points) and E&P (up 36 points).
Stocks that contributed positively to the index include HUBC (up 110 points), ENGRO (up 32 points), PAKT (up 28 points), MEBL (up 23 points) and UNITY (up 20 points). Stocks that contributed negatively include JLICL (down 11 points), NESTLE (down 5 points), BAFL (down 3 points), SCBPL (down 2 points) and FML (down 2 points).
Copyright Business Recorder, 2020
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