KARACHI: Pakistan Stock Exchange Monday witnessed a bullish trend on the back of healthy buying at attractive low levels. BRIndex100 gained 62.81 points or 1.28 percent to close at 4,970.43 points. BRIndex100 hit intraday high of 4,992.00 and intraday low of 4,939.70 points. Volumes stood at 441.145 million shares.
BRIndex30 increased by 346.63 points or 1.38 percent to close at 25,475.44 points with a turnover of 297.570 million shares.
The KSE-100 Index surged by 567.23 points or 1.24 percent to once again cross 46,000 psychological level at 46,375.59 points. Trading activity also improved as daily volumes on ready counter increased to 486.375 million shares as compared to 442.716 million shares traded on previous session.
Foreign investors also remained net buyers of shares worth $92,292. The market capitalization increased by Rs 87 billion to Rs 8.328 trillion. Out of total 405 active scrips, 246 closed in positive and 141 in negative while the value of 18 stocks remained unchanged. WorldCall Telecom was the volume leader with 40.310 million shares and gained Rs 0.14 to close at Rs 1.53 followed by Maple Leaf that increased by Rs 1.89 to close at Rs 47.10 with 35.654 million shares. Bata Pak and Sapphire Textile were the top gainers increasing by Rs 90.40 and Rs 60.33 respectively to close at Rs 1769.80 and Rs 989.00 while Indus Dyeing and Colgate Palmolive were the top losers declining by Rs 28.90 and Rs 25.99 respectively to close at Rs 611.00 and Rs 2800.01.
BR Automobile Assembler Index gained 32.13 points or 0.37 percent to close at 8,630.11 points with total turnover of 3.194 million shares. BR Cement Index increased by 91.99 points or 1.28 percent to close at 7,296.09 points with 78.705 million shares.
BR Commercial Banks Index inched up by 42.8 points or 0.48 percent to close at 9,010.62 points with 30.145 million shares.
BR Power Generation and Distribution Index lost 25.63 points or 0.44 percent to close at 5,843.47 points with 22.156 million shares.
BR Oil and Gas Index surged by 93.91 points or 2.23 percent to close at 4,305.65 points with 23.461 million shares.
BR Tech. & Comm. Index closed at 3,376.14 points, up 103.87 points or 3.17 percent 125.290 million shares.
An analyst at Arif Habib Limited said that the market priced in the positive fundamentals relating to foreign remittances as well as the expectation of better quarterly results of the corporate sector, which has so far posted 60 percent positive growth.
Cement sector continued uptrend on the prospects of better results, whereas E&P sector benefited from an increase in international crude oil prices. Selling pressure witnessed last week from institutional and foreign investors subsided in Banks and Fertilizer sectors that resulted in improved performance across the board.
EFERT declared financial results along with dividend that brought support to the KSE-100 Index from overall Fertilizer sector. Similarly, HBL and UBL rebounded cautiously during the session, adding contribution to the Index.
Sectors contributing to the performance include E&P (up 116 points), Technology (up 73 points), Cement (up 67 points), Pharma (up 48 points) and Banks (up 46 points). Stocks that contributed positively to the index include OGDC (up 54 points), TRG (up 45 points), DAWH (up 33 points), DGKC (up 33 points) and SYS (up 30 points). Stocks that contributed negatively include HUBC (down 8 points), FFC (down 7 points), NBP (down 6 points), KOHC (down 6 points) and BAFL (down 6 points).
Copyright Business Recorder, 2021