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KARACHI: Pakistan Stock Exchange Friday witnessed a bullish trend and partially recovered its overnight losses on the back of local investors and institutional support.

BRIndex100 gained 69.62 points or 1.43 percent to close at 4,953.65 points. BRIndex100 hit intraday high of 4,962.22 and intraday low of 4,866.53 points. Volumes stood at 289.913 million shares. BRIndex30 increased by 466.65 points or 1.85 percent to close at 25,705.58 points with total daily turnover of 203.530 million shares.

The KSE-100 Index surged by 558.81 points or 1.23 percent and closed at 45,837.35 points. Trading activities however remained low as daily volumes on ready counter decreased to 317.237 million shares as compared 441.496 million shares traded Thursday.

Foreign investors however remained net sellers of shares worth $2.219 million. Total market capitalization increased by Rs 70 billion to Rs 8.192 trillion. Out of total 409 active scrips, 295 closed in positive and only 88 in negative while the value of 26 stocks remained unchanged.

Azgard Nine was the volume leader with 29.246 million shares and increased by Rs 1.05 to close at Rs 33.95 followed by TRG Pak that surged by Rs 3.10 to close at Rs 145.81 with 21.080 million shares. Rafhan Maize and Sunrays Textile were the top gainers increasing by Rs 200.00 and Rs 73.01 respectively to close at Rs 10,200.00 and Rs 1147.59 while Colgate Palmolive and Sapphire Textile were the top losers declining by Rs 100.00 and Rs 79.65 respectively to close at Rs 2800.00 and Rs 982.35.

BR Automobile Assembler Index gained 37.72 points or 0.43 percent to close at 8,844.38 points with total turnover of 2.174 million shares. BR Cement Index increased by 82.47 points or 1.12 percent to close at 7,431.93 points with 21.793 million shares.

BR Commercial Banks Index added 116.25 points or 1.36 percent to close at 8,653.23 points with 22.649 million shares.

BR Power Generation and Distribution Index inched up by 112.05 points or 1.98 percent to close at 5,760.24 points with 29.962 million shares.

BR Oil and Gas Index surged by 93.35 points or 2.28 percent to close at 4,181.64 points with 15.000 million shares.

BR Tech. & Comm. Index closed at 3,711.84 points, up 52.29 points or 1.43 percent with 55.063 million shares.

An analyst at Arif Habib Limited said that the market partially recovered the points lost in Thursday’s trading session. Investors largely banked on Prime Minister’s vote of confidence, scheduled for Saturday, which was further aided by release of SPI (Sensitive Price Index) data that showed a surprise jump of 15 percent on YoY, prompting an active buying in Banks. An increase of 5.0 percent in international crude oil prices also favoured otherwise lethargic E&P sector, which also contributed to the surge in index.

Sectors contributing to the performance include Banks (up 135 points), E&P (up 132 points), Cement (up 59 points), Fertilizer (up 52 points) and Power (up 51 points). Stocks that contributed positively to the index include POL (up 46 points), OGDC (up 42 points), HBL (up 37 points), LUCK (up 35 points) and TRG (up 33 points). Stocks that contributed negatively include COLG (down 15 points), PAKT (down 12 points), AICL (down 2 points), PSX (down 2 points) and PSMC (down 2 points).

Copyright Business Recorder, 2021

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