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KARACHI: Pakistan Stock Exchange ended the week on strong positive note with healthy gains on the back of buying by local and foreign investors coupled with institutional support.

BRIndex100 gained 67.49 points or 1.41 percent to close at 4,855.94 points on Friday. BRIndex-100 hit intraday high of 4,865.77 and intraday low of 4,789.17 points. Volumes stood at 649.639 million shares.

BRIndex30 increased by 697.95 points or 2.79 percent to close at 25,677.48 points with a turnover of 457.993 million shares.

The KSE-100 Index surged by 445.12 points or 0.99 percent to cross 45,000 psychological level to close at 45,186.48 points. Trading activity also improved as daily volumes on the ready counter increased to 688.037 million shares as compared to 383.105 million shares traded on Thursday. Foreign investors also remained net buyer of shares worth $2.882 million. The market capitalization increased by Rs 61 billion to Rs 7.926 trillion. Out of total 404 active scrips, 286 closed in positive and 107 in negative while the value of 11 stocks remained unchanged.

WorldCall Telecom was the volume leader with 124.482 million shares and gained Rs 0.24 to close at Rs 1.43 followed by Telecard Limited that inched up by Rs 0.75 to close at Rs 8.45 with 60.213 million shares. Sapphire Textile and Nestle Pakistan were the top gainers increasing by Rs 60.07 and Rs 49.00 respectively to close at Rs 861.07 and Rs 5849.00 while Indus Motor Co and Imrooz Modaraba were the top losers declining by Rs 12.47 and Rs 11.02 respectively to close at Rs 1109.71 and Rs 139.76.

BR Automobile Assembler Index gained 26.17 points or 0.3 percent to close at 8,864.41 points with total turnover of 4.158 million shares. BR Cement Index increased by 74.9 points or 1.03 percent to close at 7,313.43 points with 29.622 million shares. BR Commercial Banks Index inched up by 37.45 points or 0.44 percent to close at 8,515.53 points with 18.956 million shares.

BR Power Generation and Distribution Index surged by 61.53 points or 1.11 percent to close at 5,619.00 points with 13.552 million shares.

BR Oil and Gas Index added 56.35 points or 1.44 percent to close at 3,977.06 points with 17.509 million shares. BR Tech. & Comm. Index closed at 3,835.44 points, up 198.46 points or 5.46 percent with 257.392 million shares. Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bullish in the earnings season rally led by scrips across the board at PSX as investor weigh the IMF affirmation on availability of projected external financing needs in FY 22, receipts of $2.5 billion Eurobonds and surge in FX reserves to over $16 billion. He said easing political noise and rupee stability played a catalyst role in bullish close at PSX.

Copyright Business Recorder, 2021

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