KARACHI: Despite foreign selling, Pakistan Stock Exchange Thursday witnessed a bullish trend on the back of healthy buying in almost all sectors by local investors and institutions.
BRIndex100 gained 92.89 points or 1.91 percent to close at 4,959.90 points. BRIndex100 hit intraday high of 4,966.98 and intraday low of 4,900.83 points. Volumes stood at 408.679 million shares.
BRIndex30 increased by 583.04 points or 2.32 percent to close at 25,735.68 points with total daily turnover of 250.627 million shares.
The KSE-100 Index surged by 603.05 points or 1.33 percent and closed at 45,965.63 points. Daily trading volumes stood at 468.970 million shares as compared to 557.503 million shares traded Wednesday.
Foreign investors however remained net sellers of shares worth $3.545 million. The market capitalization increased by Rs 84 billion to Rs 8.262 trillion. Out of total 416 active scrips, 286 closed in positive and 111 in negative while the value of 19 stocks remained unchanged.
Telecard Limited was the volume leader with 36.199 million shares and gained Rs 1.00 to close at Rs 7.88 followed by Byco Pakistan that inched up by Rs 0.35 to close at Rs 10.39 with 34.599 million shares. Rafhan Maize and Nestle Pakistan were the top gainers increasing by Rs 488.00 and Rs 54.62 respectively to close at Rs 10,200.00 and Rs 6204.62 while Philip Morris Pak and Sapphire Textile were the top losers declining by Rs 69.90 and Rs 59.00 respectively to close at Rs 1330.00 and Rs 1000.00.
BR Automobile Assembler Index gained 62.24 points or 0.7 percent to close at 8,917.59 points with total turnover of 2.665 million shares.
BR Cement Index surged by 198.97 points or 2.72 percent to close at 7,516.56 points with 32.025 million shares.
BR Commercial Banks Index increased by 137.73 points or 1.61 percent to close at 8,683.81 points with 26.335 million shares.
BR Power Generation and Distribution Index added 76.02 points or 1.36 percent to close at 5,663.24 points with 39.342 million shares.
BR Oil and Gas Index inched up by 28.41 points or 0.68 percent to close at 4,176.40 points with 11.596 million shares.
BR Tech. & Comm. Index closed at 3,768.91 points, up 145.35 points or 4.01 percent with 147.230 million shares.
An analyst at Arif Habib Limited said that the market took the cue from UBL’s financial results (with a declaration of Rs 9.5/share dividend), which were announced in the pre-open session and added a total of 642 points during the session.
Besides, anticipation of FATF’s decision on Pakistan status on grey list helped the index move up.
Sentiment remained buoyed throughout the session and price gains were observed across the board.
Sectors contributing to the performance include Banks (up 160 points), Cement (up 145 points), Technology (up 95 points), Fertilizer (up 42 points) and Power (up 41 points).
Stocks that contributed positively to the index include TRG (up 96 points), LUCK (up 87 points), UBL (up 57 points), HBL (up 50 points) and ENGRO (up 27 points). Stocks that contributed negatively include MCB (down 10 points), DAWH (down 8 points), NML (down 6 points), EFUG (down 6 points) and PMPK (down 5 points).
Copyright Business Recorder, 2021
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