PSX snaps meltdown: BRIndex100 rebounds

KARACHI: Pakistan Stock Exchange Tuesday witnessed a bullish trend and hence closed on a strong positive note with healthy gains on the back of fresh buying, mainly by local investors and institutions.

BRIndex100 gained 67.26 points or 1.44 percent to close at 4,752.79 points. BRIndex100 hit intraday high of 4,756.87 and an intraday low of 4,707.15 points. Volumes stood at 203.550 million shares.

BRIndex30 increased by 508.91 points or 2.14 percent to close at 24,334.73 points with a turnover of 114.691 million shares.

The KSE-100 Index surged by 487.39 points or 1.11 percent to close at 44,563.59 points. Daily trading volumes on the ready counter however decreased to 221.502 million shares as compared to 238.440 million shares traded on Monday.

Foreign investors however remained net sellers of shares worth $244,259. Total market capitalization increased by Rs 35 billion to Rs 7.732 trillion. Out of total 371 active scrips, 242 closed in positive and 110 in negative while the value of 19 stocks remained unchanged.

Unity Foods was the volume leader with 33.874 million shares and increased by Rs 2.40 to close at Rs 34.46 followed by Telecard Limited that gained Rs 1.00 to close at Rs 14.75 with 26.289 million shares. Rafhan Maize and Wyeth Pak were the top gainers increasing by Rs 69.97 and Rs 34.65 respectively to close at Rs 9525.00 and Rs 1055.90 while Nestle Pakistan and Pak Tobacco were the top losers declining by Rs 115.00 and Rs 89.99 respectively to close at Rs 5610.00 and Rs 1300.00.

BR Automobile Assembler Index increased by 136.53 points or 1.62 percent to close at 8,585.04 points with 1.284 million shares.

BR Cement Index gained 63.3 points or 0.93 percent to close at 6,896.90 points with 5.563 million shares.

BR Commercial Banks Index added 79.62 points or 0.91 percent to close at 8,804.68 points with 11.957 million shares.

BR Power Generation and Distribution Index inched up by 24.65 points or 0.47 percent to close at 5,218.37 points with 4.439 million shares.

BR Oil and Gas Index closed at 3,795.20 points, up 18.59 points or 0.49 percent with 12.443 million shares.

BR Tech. & Comm. Index surged by 163.83 points or 4.39 percent to close at 3,894.53 points with 64.825 million shares.

“Bargain hunters looking for value stocks, especially blue chips, turned the tables for the market and consequently the KSE-100 Index opened on a positive note and stayed in green zone all day long,” Neelam Naz at JS Global Capital said.

Top five volume leaders were primarily UNITY (up 7.5 percent), TELE (up 7.3 percent), GGL (up 6.0 percent), TRG (up 6.8 percent) and HASCOL (up 4.4 percent) contributing a total of 110 million shares.

Copyright Business Recorder, 2021