KARACHI: Pakistan Stock Exchange on Thursday witnessed a bullish trend on the back of healthy buying, mainly by local investors. BRIndex100 gained 31.31 points or 0.65 percent to close at 4,864.26 points. BRIndex100 hit intraday high of 4,883.93 and intraday low of 4,837.73 points. Volumes stood at 553.395 million shares.
BRIndex30 inched up by 127.91 points or 0.52 percent to close at 24,821.20 points with a turnover of 446.565 million shares.
The KSE-100 Index increased by 307.52 points or 0.67 percent to close at 45,984.46 points. Trading activity also improved as daily volumes on the ready counter increased to 606.380 million shares as compared to 476.618 million shares traded on Wednesday.
Foreign investors however remained net sellers of shares worth $195,797. Total market capitalization increased by Rs 57 billion to Rs 8.334 trillion. Out of total 418 active scrips, 227 closed in positive and 173 in negative while the value of 18 stocks remained unchanged.
K-Electric was the volume leader with 143.822 million shares and gained Rs 0.15 to close at Rs 4.25 followed by Hum Network that lost Rs 0.32 to close at Rs 7.22 with 43.378 million shares. Rafhan Maize and ICI Pakistan were the top gainers increasing by Rs 579.00 and Rs 39.88 respectively to close at Rs 10479.00 and Rs 842.05 while Gatron Industries and Mari Petroleum were the top losers declining by Rs 19.99 and Rs 17.28 respectively to close at Rs 600.00 and Rs 1450.60.
BR Automobile Assembler Index lost 31.02 points or 0.36 percent to close at 8,522.37 points with total turnover of 1.541 million shares.
BR Cement Index increased by 86.99 points or 1.4 percent to close at 6,284.06 points with 35.419 million shares.
BR Commercial Banks Index gained 57.87 points or 0.61 percent to close at 9,528.02 points with 38.790 million shares.
BR Power Generation and Distribution Index inched up by 28.47 points or 0.49 percent to close at 5,841.17 points with 157.496 million shares.
BR Oil and Gas Index added 8.1 points or 0.19 percent to close at 4,216.29 points with 17.279 million shares.
BR Tech. & Comm. Index closed at 3,070.40 points, up 49.58 points or 1.64 percent with 90.417 million shares.
An analyst at Arif Habib Limited said that the market went up with 467 points during the session, closing the session plus 307 points.
The government’s renegotiation with power sector on resolution of circular debt, which paved the way for HUBC, KAPCO and KEL to perform. On the other hand, a pause in institutional selling (due to redemptions) helped the index recover. Banking and E&P sectors recovered from selling observed in past two sessions, besides Cement sector that performed in anticipation of better quarterly results.
Sectors contributing to the performance include Banks (up 69 points), Cement (up 67 points), Technology (up 41 points), Textile (up 34 points) and Fertilizer (up 32 points).
Stocks that contributed positively to the index include LUCK (up 43 points), ENGRO (up 27 points), TRG (up 25 points), KTML (up 24 points) and BAHL (up 23 points). Stocks that contributed negatively include MARI (down 11 points), UNITY (down 9 points), SHFA (down 5 points), BAFL (down 4 points) and JLICL (down 4 points).
Copyright Business Recorder, 2021
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