KARACHI: Fresh buying by local and foreign investors in various sectors Tuesday supported the Pakistan Stock Exchange to close on strong positive note with healthy gains.
BRIndex100 gained 33.52 points or 0.68 percent to close at 4,985.48 points. BRIndex100 hit intraday high of 5,006.13 and intraday low of 4,955.49 points. Volumes stood at 418.059 million shares.
BRIndex30 inched up by 208.55 points or 0.81 percent to close at 25,904.31 points with total daily turnover of 275.151 million shares.
The KSE-100 Index increased by 331.89 points or 0.72 percent and closed at 46,580.34 points. Trading activities however remained low as daily volumes on ready counter decreased to 468.062 million shares as compared to 693.615 million shares traded Monday.
Foreign investors also remained net buyers of shares worth $84,836. The market capitalization increased by Rs 44 billion to Rs 8.427 trillion. Out of total 429 active scrips, 209 closed in positive and 202 in negative while the value of 18 stocks remained unchanged.
Hascol Petroleum was the volume leader with 43.964 million shares however lost Rs 0.91 to close at Rs 12.69 followed by K-Electric that closed at Rs 4.49, down Rs 0.03 with 34.216 million shares. Rafhan Maize and Indus Dyeing were the top gainers increasing by Rs 90.50 and Rs 42.69 respectively to close at Rs 10,185.00 and Rs 611.99 while Sapphire Textile and Sanofi-Aventis were the top losers declining by Rs 81.89 and Rs 37.17 respectively to close at Rs 1010.10 and Rs 760.72.
BR Automobile Assembler Index increased by 100.87 points or 1.16 percent to close at 8,798.28 points with total turnover of 8.347 million shares.
BR Cement Index gained 7.27 points or 0.11 percent to close at 6,612.63 points with 17.199 million shares.
BR Commercial Banks Index inched up by 26.37 points or 0.28 percent to close at 9,362.18 points with 36.678 million shares.
BR Power Generation and Distribution Index surged by 169.2 points or 2.85 percent to close at 6,096.56 points with 60.805 million shares.
BR Oil and Gas Index added 95.77 points or 2.31 percent to close at 4,238.21 points with 72.134 million shares.
BR Tech. & Comm. Index closed at 3,327.76 points, up 31.28 points or 0.95 percent with 67.132 million shares.
An analyst at Arif Habib Limited said that the signing of IPP’s agreement by HUBC motivated the investors to take positions in PSO and HUBC, resulting in HUBC driving the market with an overall increase of 394 points during the session. Similarly, overnight increase in crude oil prices by 3.5 percent caused the E&P sector stocks to react late but assertively contributed to the upsurge in the index. PSO made a new high on the back of closure of deal with IPPs, which opens the door for resolution of circular debt to O&GMCs.
Banking, Refinery and Cement sector stocks saw profit booking that brought the index in the closing session to a net increase of 332 points.
Sectors contributing to the performance include E&P (up 101 points), Power (up 88 points), O&GMCs (up 61 points), Banks (up 34 points) and Pharma (up 30 points).
Stocks that contributed positively to the index include HUBC (up 87 points), PSO (up 65 points), OGDC (up 39 points), POL (up 36 points) and MCB (up 27 points). Stocks that contributed negatively include HBL (down 21 points), HASCOL (down 12 points), INIL (down 11 points), MEBL (down 8 points) and DGKC (down 5 points).
Copyright Business Recorder, 2021