KARACHI: Pakistan Stock Exchange Monday witnessed a bullish trend on the back of healthy buying, mainly by local investors and institutions. BRIndex100 gained 117.49 points or 2.45 percent to close at 4,916.38 points. BRIndex100 hit intraday high of 4,961.83 and intraday low of 4,761.41 points. Volumes stood at 380.920 million shares.
BRIndex30 increased by 643.38 points or 2.57 percent to close at 25,647.33 points with total daily turnover of 229.389 million shares.
The KSE-100 Index surged by 976.01 points or 2.18 percent and once again crossed 45,000 psychological level to close at 45,682.77 points. Trading activity also improved significantly as daily volumes on ready counter increased to 409.086 million shares as compared to 240.487 million shares traded on previous session.
Foreign investors however remained net sellers of shares worth $3.466 million. Total market capitalization increased by Rs 142 billion to Rs 7.931 trillion. Out of total 397 active scrips, 211 closed in positive and 170 in negative while the value of 16 stocks remained unchanged.
Telecard Limited was the volume leader with 55.047 million shares however declined by Rs 1.03 to close at Rs 14.99 followed by TRG Pak that increased by Rs 5.52 to close at Rs 181.69 with 53.626 million shares. Abbott Lab and Nestle Pakistan were the top gainers increasing by Rs 48.96 and Rs 40.00 respectively to close at Rs 779.98 and Rs 5750.00 while Sapphire Textile and Mehmood Textile were the top losers declining by Rs 71.36 and Rs 35.08 respectively to close at Rs 898.63 and Rs 455.00.
BR Automobile Assembler Index lost 19.55 points or 0.22 percent to close at 8,703.66 points with total turnover of 2.587 million shares.
BR Cement Index increased by 138.76 points or 1.98 percent to close at 7,156.77 points with 19.936 million shares.
BR Commercial Banks Index gained 160.36 points or 1.83 percent to close at 8,902.67 points with 32.227 million shares.
BR Power Generation and Distribution Index inched up by 142.07 points or 2.67 percent to close at 5,461.15 points with 12.272 million shares.
BR Oil and Gas Index surged by 175.71 points or 4.61 percent to close at 3,988.08 points with 20.310 million shares.
BR Tech. & Comm. Index closed at 4,113.76 points, up 89.12 points or 2.21 percent with 153.475 million shares.
An analyst at Arif Habib Limited said that the market made a rebound with the anticipation of new fund injection by mutual funds, despite the persistent selling witnessed in the past couple of sessions at the behest of rising cases of Corona. Financials results announced earlier on Monday failed to excite the market, when the index tumbled 317 points earlier in the session.
Aggressive buying was observed in OGDC, PPL and PSO, all of which hit upper circuits during the session although OGDC and PSO closed below the upper circuit. Similarly, buying was observed in HBL and UBL, which helped the index post 1246 points after sustaining loss of 317 points. Session ended plus 976 points.
Sectors contributing to the performance include E&P (up 239 points), Banks (up 177 points), Cement (up 99 points), Fertilizer (up 87 points) and Pharma (up 81 points).
Stocks that contributed positively to the index include OGDC (up 102 points), PPL (up 96 points), HUBC (up 78 points), TRG (up 60 points) and LUCK (up 58 points). Stocks that contributed negatively include PSMC (down 9 points), INIL (down 8 points), AICL (down 6 points), LOTCHEM (down 5 points) and KEL (down 5 points).
Copyright Business Recorder, 2021
Comments
Comments are closed.