KARACHI: Pakistan Stock Exchange Monday witnessed a bullish trend, after long Eid holidays, due to MSCI announcement of its semi-annual review and falling coronavirus cases in the country.
BRIndex100 gained 94.06 points or 1.95 percent to close at 4,929.71 points. BRIndex100 hit intraday high of 4,933.53 and an intraday low of 4,873.76 points. Volumes stood at 405.088 million shares.
BRIndex30 increased by 842.52 points or 3.4 percent to close at 25,632.83 points with a turnover of 244.875 million shares.
The KSE-100 Index surged by 621.64 points or 1.38 percent to close at 45,796.31 points. Trading activity also improved significantly as daily volumes on the ready counter increased to 437.449 million shares as compared to 245.642 million shares traded on last trading session.
Foreign investors also remained net buyers of shares worth $1.177 million. Total market capitalization increased by Rs 68 billion to Rs 7.876 trillion. Out of total 405 active scrips, 278 closed in positive and 105 in negative while the value of 22 stocks remained unchanged.
WorldCall Telecom was the volume leader with 72.917 million shares and gained Rs 0.16 to close at Rs 1.69 followed by K-Electric that inched up by Rs 0.30 to close at Rs 3.99 with 38.306 million shares. Wyeth Pak and Philip Morris Pak were the top gainers increasing by Rs 83.34 and Rs 55.82 respectively to close at Rs 1194.59 and Rs 890.19 while Sapphire Textile and Sapphire Fiber were the top losers declining by Rs 68.00 and Rs 67.42 respectively to close at Rs 882.00 and Rs 831.58.
BR Automobile Assembler Index increased by 119.99 points or 1.38 percent to close at 8,830.15 points with total turnover of 3.507 million shares.
BR Cement Index surged by 281.85 points or 3.98 percent to close at 7,363.71 points with 24.461 million shares.
BR Commercial Banks Index gained 31.85 points or 0.36 percent to close at 8,956.30 points with 20.163 million shares.
BR Power Generation and Distribution Index inched up by 47.58 points or 0.86 percent to close at 5,551.59 points with 43.708 million shares.
BR Oil and Gas Index lost 19.19 points or 0.5 percent to close at 3,818.30 points with 38.119 million shares.
BR Tech. & Comm. Index closed at 4,126.92 points, up 234.92 points or 6.04 percent with 128.334 million shares.
An analyst at Arif Habib Limited said that the first trading session after a long Eid vacation, the market opened plus 347 points, courtesy LUCK and TRG. MSCI EM review during the off period saw inclusion of LUCK and TRG and deletion of INDU, PKGS, OGDC and NBP that resulted in negative price performance in OGDC and likewise positive price performance in LUCK.
The momentum kept the interest alive and the index kept posting gains with a total addition of 632 points and closing the session up 622 points. In addition, Tech stocks continued the uptrend with prominent performance by TRG, NETSOL and AVN.
Sectors contributing to the performance include Cement (up 200 points), Technology (up 140 points), Fertilizer (up 55 points), Textile (up 35 points) and Vanaspati (up 34 points). Stocks that contributed positively to the index include TRG (up 135 points), LUCK (up 94 points), UNITY (up 34 points), MCB (up 32 points) and MLCF (up 24 points). Stocks that contributed negatively include OGDC (down 65 points), PPL (down 19 points), HBL (down 8 points), NRL (down 8 points) and BAFL (down 6 points).
Copyright Business Recorder, 2021