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KARACHI: Pakistan Stock Exchange Tuesday witnessed a bullish trend on the back of across-the-board healthy buying at low levels. BRIndex100 gained 112.38 points or 2.43 percent to close at 4,740.84 points. BRIndex100 hit intraday high of 4,747.39 and intraday low of 4,633.31 points. Volumes stood at 274.240 million shares.

BRIndex30 increased by 823.58 points or 3.48 percent to close at 24,505.65 points with a turnover of 173.083 million shares.

The KSE-100 Index surged by 856.49 points or 1.97 percent to once again cross 44,000 psychological level to close at 44,404.70 points. Daily volumes on the ready counter increased to 305.963 million shares as compared to 302.803 million shares traded Monday.

Foreign investors however were net sellers of shares worth $833,032. Total market capitalization increased by Rs 135 billion to Rs 7.835 trillion. Out of total 393 active scrips, 301 closed in positive and only 71 in negative while the value of 21 stocks remained unchanged.

TRG Pak was the volume leader with 20.647 million shares and increased by Rs 9.56 to close at Rs 137.04 followed by Netsol Tech that closed at Rs 172.52, up 9.77 with 19.228 million shares. Unilever Foods and Pak Tobacco were the top gainers increasing by Rs 439.89 and Rs 66.39 respectively to close at Rs 13,750.00 and Rs 1511.43 while Sapphire Textile and Sapphire Fiber were the top losers declining by Rs 63.97 and Rs 59.99 respectively to close at Rs 862.00 and Rs 795.01.

BR Automobile Assembler Index gained 69.38 points or 0.78 percent to close at 8,921.65 points with total turnover of 3.285 million shares.

BR Cement Index surged by 237.96 points or 3.5 percent to close at 7,043.81 points with 16.768 million shares.

BR Commercial Banks Index inched up by 87.09 points or 1.03 percent to close at 8,519.27 points with 11.926 million shares.

BR Power Generation and Distribution Index increased by 111.75 points or 2.04 percent to close at 5,583.73 points with 19.699 million shares. BR Oil and Gas Index added 58.1 points or 1.49 percent to close at 3,946.08 points with 12.883 million shares. BR Tech. & Comm. Index closed at 3,480.71 points, up 199.59 points or 6.08 percent with 76.424 million shares. An analyst at Arif Habib Limited said that the market made a strong comeback by adding a total of 930 points during the session and ending the session plus 857 points.

Tech and Refinery sectors contributed to change of sentiment, which hit lower circuits a day earlier and rebounded Tuesday.

After Monday’s dismal performance, the total leverage dropped to Rs 33 billion with significant reduction in leverage levels of Tech and Refinery sectors stocks in recent time, thereby giving some breathing space to the Investors. Besides, buying activity was observed across the board with consistent performance from Fertilizer sector, but saw rebound in E&P, O&GMCs and Cement sector stocks.

Sectors contributing to the performance include Cement (up 165 points), Technology (up 137 points), Banks (up 97 points), E&P (up 53 points) and Power (up 53 points).

Stocks that contributed positively to the index include TRG (up 103 points), LUCK (up 66 points), HUBC (up 41 points), HBL (up 32 points) and SYS (up 27 points). Stocks that contributed negatively include BAFL (down 4 points), EFUG (down 3 points), AKBL (down 2 points), INDU (down 2 points) and ATLH (down 1 point).

Copyright Business Recorder, 2021

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