KARACHI: Pakistan Stock Exchange Monday witnessed a bullish trend on the back of healthy buying by local and foreign investors.
BRIndex100 gained 142.43 points or 3.06 percent to close at 4,793.04 points. BRIndex100 hit intraday high of 4,802.13 and intraday low of 4,650.61 points. Volumes stood at 425.323 million shares.
BRIndex30 increased by 1003.83 points or 4.27 percent to close at 24,511.45 points with a turnover of 295.843 million shares.
The KSE-100 Index surged by 978.51 points or 2.23 percent to close above 44,000 level to close at 44,766.59 points. Trading activity also improved as daily volumes on ready counter increased to 455.550 million shares as compared to 442.561 million shares traded last Friday.
Foreign investors also remained net buyers of shares worth $3.144 million. The market capitalization increased by Rs 165 billion to Rs 7.957 trillion. Out of total 403 active scrips, 332 closed in positive and only 59 in negative while the value of 12 stocks remained unchanged.
TRG Pak was the volume leader with 24.898 million shares and surged by Rs 8.99 to close at Rs 128.98 followed by Unity Foods that increased by Rs 1.99 to close at Rs 28.55 with 23.636 million shares. Rafhan Maize and Nestle Pakistan were the top gainers increasing by Rs 690.00 and Rs 286.25 respectively to close at Rs 10,190.00 and Rs 6036.25 while Sunrays Textile and Wyeth Pak were the top losers declining by Rs 71.03 and Rs 21.54 respectively to close at Rs 876.97 and Rs 983.58.
BR Automobile Assembler Index surged by 256.7 points or 3.15 percent to close at 8,415.80 points with total turnover of 3.504 million shares.
BR Cement Index increased by 236.13 points or 3.36 percent to close at 7,259.47 points with 63.897 million shares.
BR Commercial Banks Index gained 84.05 points or 0.98 percent to close at 8,638.09 points with 35.386 million shares.
BR Power Generation and Distribution Index inched up by 153.16 points or 2.76 percent to close at 5,693.56 points with 29.287 million shares.
BR Oil and Gas Index added 86.06 points or 2.15 percent to close at 4,089.19 points with 23.010 million shares.
BR Tech. & Comm. Index closed at 3,428.94 points, up 239.27 points or 7.5 percent with 88.158 million shares.
Maaz Mulla at JS Global Capital said that bulls made a comeback to rescue the market for the second successive session. The index made an intraday high of plus 1,051 points to close at 44,766 level, up 2.2 percent or 978 points. TRG (up 7.5 percent), UNITY (up 7.5 percent), FCCL (up 1.9 percent) and BYCO (up 9.1 percent) cumulatively contributed 91 million shares (20 percent of market volumes).
The rally was driven by Technology, Cement, and Refineries. In the Cement sector, major buying was witnessed in FCCL (up 1.9 percent), MLCF (up 5.4 percent), DGKC (up 3.7 percent) where PIOC (up 7.4 percent) closed on its upper circuit.
Investor interest was particularly visible in Technologies where AVN (up 7.5 percent), NETSOL (up 7.5 percent) and TRG (up 7.5 percent) all closed on their upper circuits.
Copyright Business Recorder, 2021