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KARACHI: A bullish trend continued on Pakistan Stock Exchange on Tuesday on the back of healthy buying mainly by local investors and institutions. BRIndex100 gained 26.11 points or 0.53 percent to close at 4,955.82 points. BRIndex100 hit intraday high of 4,964.40 and intraday low of 4,903.48 points. Volumes stood at 505.065 million shares.

BRIndex30 increased by 197.6 points or 0.77 percent to close at 25,830.43 points with a turnover of 290.424 million shares.

The KSE-100 index surged by 185.51 points or 0.41 percent and closed at 45,981.82 points. During the session, the KSE-100 index crossed 46,000 psychological level, however failed to sustain due to profit taking in some stocks in late hours. Trading activities also improved as daily volumes on ready counter increased to 536.792 million shares as compared to 437.449 million shares traded on Monday.

Foreign investors however remaine3d net sellers of shares worth $3.611 million shares. Total market capitalization increased by Rs 34 billion to Rs 7.910 trillion. Out of total 404 active scrips, 195 closed in positive and 190 in negative while the value of 19 stocks remained unchanged.

WorldCall Telecom was the volume leader with 49.505 million shares, however lost Rs 0.02 to close at Rs 1.67 followed by Telecard Limited that gained Rs 0.84 to close at Rs 17.54 with 49.090 million shares. Unilever Foods and Island Textile were the top gainers increasing by Rs 1107.90 and Rs 100.01 respectively to close at Rs 15879.90 and Rs 2300.00 while Sapphire Textile and Shield Corp were the top losers declining by Rs 33.49 and Rs 26.50 respectively to close at Rs 848.51 and Rs 328.00.

BR Automobile Assembler Index gained 16.04 points or 0.18 percent to close at 8,846.19 points with total turnover of 3.000 million shares.

BR Cement Index lost 8.61 points or 0.12 percent to close at 7,355.10 points with 23.095 million shares.

BR Commercial Banks Index decreased by 28.15 points or 0.31 percent to close at 8,928.15 points with 24.417 million shares.

BR Power Generation and Distribution Index inched up by 4.78 points or 0.09 percent to close at 5,556.37 points with 25.937 million shares.

BR Oil and Gas Index increased by 88.21 points or 2.31 percent to close at 3,906.51 points with 48.469 million shares.

BR Tech. & Comm. Index closed at 4,123.31 points, down 3.61 points or 0.09 percent with 143.207 million shares.

An analyst at Arif Habib Limited that the market traded in a range during the session that saw an oscillation of down 178 points and up 238 points, ending the session plus 186 points.

The decline observed earlier, on the back of profit booking in Technology stocks which triggered selling pressure in Banks, E&P and O&GMCs.

A rebound in buying activity brought back interest in PSO which helped pull stock price up by a good margin from LDCP. Activity remained skewed towards GGL, UNITY, TRG and TELE which have made a robust rally in the past couple of months.

Sectors contributing to the performance include E&P (up 80 points), O&GMCs (up 74 points), Vanaspati (up 37 points), Technology (up 30 points) and Fertilizer (up 18 points).

Stocks that contributed positively to the index include PSO (up 50 points), TRG (up 43 points), UNITY (up 37 points), MARI (up 31 points) and PPL (up 21 points). Stocks that contributed negatively include BAHL (down 26 points), LUCK (down 15 points), MCB (down 14 points), SYS (down 13 points) and ANL (down 12 points).

Copyright Business Recorder, 2021

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