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KARACHI: Pakistan Stock Exchange Wednesday witnessed a positive trend on the first day of Ramazan and closed on strong positive note on the back of healthy buying by local and foreign investors.

BRIndex100 gained 39.89 points or 0.83 percent to close at 4,874.18 points. BRIndex100 hit intraday high of 4,883.71 and intraday low of 4,834.29 points. Volumes stood at 316.710 million shares.

BRIndex30 increased by 244.82 points or 0.96 percent to close at 25,854.34 points with total daily turnover of 166.354 million shares.

The KSE-100 Index surged by 262.65 points or 0.58 percent to close at 45,311.22 points. Trading activity however remained thin as daily volumes on ready counter decreased to 341.889 million shares as compared to 473.433 million shares traded Tuesday.

Foreign investors also remained net buyers of shares worth $533,967. Total market capitalization increased by Rs 37 billion to Rs 7.922 trillion. Out of total 380 active scrips, 219 closed on positive and 137 on negative note while the value of 24 stocks remained unchanged.

F. Nat. Equities was the volume leader with 43.109 million shares however lost Rs 0.82 to close at Rs 11.11 followed by Media Times Limited that gained Rs 0.52 to close at Rs 3.97 with 20.207 million shares. Sapphire Fiber and AKD Capital were the top gainers increasing by Rs 47.99 and Rs 32.97 respectively to close at Rs 879.99 and Rs 475.12 while Nestle Pakistan and Gatron Industries were the top losers declining by Rs 40.00 and Rs 36.42 respectively to close at Rs 5810.00 and Rs 476.00.

BR Automobile Assembler Index increased by 100.73 points or 1.14 percent to close at 8,962.58 points with total turnover of 4.306 million shares.

BR Cement Index gained 46.07 points or 0.63 percent to close at 7,311.39 points with 11.738 million shares.

BR Commercial Banks Index inched up by 26.66 points or 0.31 percent to close at 8,595.00 points with 12.522 million shares.

BR Power Generation and Distribution Index lost 29.13 points or 0.52 percent to close at 5,521.89 points with 11.717 million shares.

BR Oil and Gas Index closed at 3,977.06 points, up 26.79 points or 0.68 percent with 21.184 million shares.

BR Tech. & Comm. Index surged by 81.0 points or 2.08 percent to close at 3,965.91 points with 97.174 million shares. An analyst at Arif Habib Limited said that the first day of Ramazan marked positive opening for the KSE-100 Index with an overall increase of 299 points during the session and closed plus 262 points.

Proximity to announcement of quarterly corporate results made investors take a positive view on the market. Buying activity was observed in cyclical sectors such as Autos, Cement and Steel. O&GMCs saw SNGP performing, besides Refinery and Technology stocks where NETSOL hit upper circuit.

Sectors contributing to the performance include Technology (up 46 points), Cement (up 35 points), Banks (up 29 points), E&P (up 26 points) and Refinery (up 24 points).

Stocks that contributed positively to the index include TRG (up 32 points), FFC (up 19 points), HBL (up 19 points), LUCK (up 18 points) and ATRL (up 17 points). Stocks that contributed negatively include MCB (down 12 points), POL (down 9 points), ABL (down 4 points), KTML (down 3 points) and UNITY (down 3 points).

Copyright Business Recorder, 2021

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