KARACHI: Pakistan Stock Exchange Tuesday witnessed a bullish trend on the back of fresh buying by local and foreign investors coupled with institutional support.
BRIndex100 gained 45.58 points or 0.94 percent to close at 4,875.52 points. BRIndex100 hit intraday high of 4,884.94 and intraday low of 4,842.58 points. Volumes stood at 775.315 million shares. BRIndex30 increased by 417.26 points or 1.73 percent to close at 24,598.02 points with a turnover of 603.866 million shares. The KSE-100 Index surged by 316.62 points or 0.69 percent to close at 45,922.04 points. Trading activity improved significantly as daily volumes on the ready counter increased to 825.893 million shares as compared to 588.039 million shares traded on Monday.
Foreign investors also remained net buyers of equities worth $70,200. Total market capitalization increased by Rs 56 billion to Rs 8.354 trillion. Out of total 414 active scrips, 272 closed in positive and 124 in negative while the value of 18 stocks remained unchanged.
K-Electric was the volume leader with 250.242 million shares and gained Rs 0.49 to close at Rs 4.50 followed by Hum Network that inched up by Rs 0.75 to close at Rs 8.18 with 68.503 million shares. Millat Tractors and Khyber Tobacco were the top gainers increasing by Rs 43.96 and Rs 34.03 respectively to close at Rs 1161.05 and Rs 487.77 while Nestle Pakistan and Gatron Industries were the top losers declining by Rs 109.60 and Rs 42.37 respectively to close at Rs 6660.40 and Rs 522.63.
BR Automobile Assembler Index surged by 232.87 points or 2.71 percent to close at 8,815.27 points with total turnover of 12.360 million shares.
BR Cement Index gained 21.99 points or 0.35 percent to close at 6,257.01 points with 17.096 million shares.
BR Commercial Banks Index inched up by 50.77 points or 0.54 percent to close at 9,521.71 points with 84.531 million shares.
BR Power Generation and Distribution Index added 15.51 points or 0.27 percent to close at 5,722.56 points with 270.368 million shares.
BR Oil and Gas Index closed at 4,315.06 points, up 36.62 points or 0.86 percent with 18.460 million shares.
BR Tech. & Comm. Index increased by 121.32 points or 4.51 percent to close at 2,814.26 points with 119.347 million shares.
Danish Ladhani at JS Global Capital said that the KSE-100 Index closed positive at 45,922 levels, up 317 points after making a high of plus 408 points.
Mostly activity was seen in the second and third-tier stocks where KEL (up 12.2 percent), HUMNL (up 10.1 percent), UNITY (up 7.1 percent), PIBTL (up 2.0 percent), SILK (up 1.6 percent), TRG (up 6.5 percent) and BYCO (up 0.5 percent) were volume leaders, cumulatively contributing 448 million shares to the aggregate.
Moreover, activity was seen in the Auto sector on the grounds of an 18 percent year-on-year rise in car sales during the first half of the current fiscal year.
HBL (up 1.5 percent), BAHL (up 0.4 percent) and MCB (up 0.6 percent) in the financials closed in the positive zone.
OGDC (1.8 percent), POL (up 0.7 percent) and PPL (up 1.7 percent) in the E&Ps closed in the green zone despite a dip in international oil prices over demand concerns.
Copyright Business Recorder, 2021
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