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KARACHI: Pakistan Stock Exchange Monday witnessed a bullish trend on the back of healthy buying, mainly by local investors. BRIndex100 gained 60.82 points or 1.26 percent to close at 4,895.91 points. BRIndex100 hit intraday high of 4,900.45 and intraday low of 4,798.91 points. Volumes stood at 421.769 million shares.

BRIndex30 increased by 477.48 points or 1.91 percent to close at 25,438.02 points with a turnover of 333.040 million shares.

The KSE-100 Index surged by 506.02 points or 1.13 percent and once again crossed 45,000 psychological level at 45,407.33 points. Daily trading volumes on ready counter stood at 440.989 million shares as compared to 484.637 million shares traded Friday. Foreign investors however remained net sellers of shares worth $2.096 million. The market capitalization increased by Rs 82 billion to Rs 8.029 trillion. Out of total 404 active scrips, 213 closed in negative and 175 in positive while the value of 16 stocks remained unchanged.

Byco Petroleum was the volume leader with 68.673 million shares and gained Rs 0.10 to close at Rs 11.14 followed by Pak Refinery that increased by 1.26 to close at Rs 26.57 with 40.900 million shares. Unilever Foods and Nestle Pakistan were the top gainers increasing by Rs 300.00 and Rs 93.45 respectively to close at Rs 14,500.00 and Rs 5948.45 while Bata Pak and Philip Morris Pak were the top losers declining by Rs 49.00 and Rs 47.06 respectively to close at Rs 2004.00 and Rs 1108.50.

BR Automobile Assembler Index increased by 96.58 points or 1.13 percent to close at 8,632.36 points with total turnover of 3.572 million shares.

BR Cement Index lost 17.41 points or 0.24 percent to close at 7,156.77 points with 12.002 million shares.

BR Commercial Banks Index gained 14.66 points or 0.17 percent to close at 8,766.77 points with 14.447 million shares.

BR Power Generation and Distribution Index inched up by 85.93 points or 1.52 percent to close at 5,744.44 points with 24.340 million shares. BR Oil and Gas Index surged by 184.28 points or 4.58 percent to close at 4,209.67 points with 77.387 million shares.

BR Tech. & Comm. Index added 89.53 points or 2.49 percent to close at 3,688.33 points with 72.364 million shares.

An analyst at Arif Habib Limited said that the market went down earlier in the session by 165 points that saw across the board mild selling pressure. Short roll-over week and an outstanding amount of Rs 38.8 billion at the start of the week caused some jitters. However, a reversal in energy chain stocks (E&P, Refinery, O&GMCs and Power) saw a rebound in the Index with a total increase of 564 points and closing the session plus 506.02 points.

Anticipation of resolution of gas related circular debt helped energy chain to recover primarily. Among major contributors,

OGDC, PPL and HASCOL hit upper circuit during the session, whereas PSO, HUBC also contributed to the positivity. Similarly, Refinery sector stocks also performed well.

Sectors contributing to the performance include E&P (up 236 points), O&GMCs (up 88 points), Tech (up 78 points), Power (up 44 points) and Fertilizer (up 43 points).

Stocks that contributed positively to the index include OGDC (up 111 points), PPL (up 101 points), TRG (up 44 points), PSO (up 44 points) and HUBC (up 41 points). Stocks that contributed negatively include AICL (down 12 points), MCB (down 11 points), BAFL (down 10 points), PIOC (down 10 points) and NBP (down 10 points).

Copyright Business Recorder, 2021

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