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KARACHI: Pakistan Stock Exchange Friday turned bullish and closed on strong positive note due to healthy buying, mainly by local investors and institutions. BRIndex100 gained 40.09 points or 0.82 percent to close at 4,954.62 points. BRIndex100 hit intraday high of 4,966.17 points and an intraday low of 4,914.53 points. Total volumes stood at 602.420 million shares.

BRIndex30 increased by 163.08 points or 0.64 percent to close at 25,748.39 points with total daily turnover of 431.493 million shares.

The KSE-100 Index surged by 340.91 points or 0.75 percent and closed at 45,914.98 points. Daily trading volumes on ready counter stood at 710.428 million shares as compared to 784.034 million shares traded on Thursday.

The market capitalization increased by Rs 73 billion to Rs 7.962 trillion. Out of total 408 active scrips, 276 closed in positive and 110 in negative while the value of 22 stocks remained unchanged.

WolrdCall Telecom was the volume leader with 99.480 million shares and gained Rs 0.12 to close at Rs 1.88 followed by Byco Petroleum that lost Rs 0.14 to close at Rs 10.12 with 67.670 million shares. Nestle Pakistan and Wyeth Pak were the top gainers increasing by Rs 247.67 and Rs 111.30 respectively to close at Rs 5798.00 and Rs 1595.32 while Island Textile and Bata Pak were the top losers declining by Rs 69.00 and Rs 50.00 respectively to close at Rs 2231.00 and Rs 1750.00.

BR Automobile Assembler Index increased by 155.94 points or 1.77 percent to close at 8,965.44 points with total turnover of 17.470 million shares.

BR Cement Index gained 44.13 points or 0.61 percent to close at 7,289.52 points with 14.737 million shares.

BR Commercial Banks Index surged by 135.24 points or 1.54 percent to close at 8,923.07 points with 71.731 million shares.

BR Power Generation and Distribution Index inched up by 33.12 points or 0.6 percent to close at 5,544.82 points with 46.497 million shares.

BR Oil and Gas Index added 55.63 points or 1.44 percent to close at 3,930.53 points with 62.652 million shares.

BR Tech. & Comm. Index closed at 4,025.89 points, up 8.61 points or 0.21 percent with 145.375 million shares.

An analyst at Arif Habib Limited said that resolution of dispute between the members of ruling party as well as anticipation of tax incentives for the industries in the upcoming budget helped KSE-100 index put up a formidable addition of 374 points during the session and ended the session up 341 points.

Deferral of OGDC and PPL for consideration of privatization resulted in a rebound in stock prices of both stocks. Banks, Cement and Steel sectors also contributed positively to the Index. The incentives proposal for the refinery sector gave way to NRL, ATRL and PRL to post gains.

Sectors contributing to the performance include Banks (up 116 points), E&P (up 68 points), Cement (up 31 points), O&GMCs (up 29 points) and Autos (up 29 points).

Stocks that contributed positively to the index include HBL (up 32 points), PPL (up 31 points), OGDC (up 28 points), UBL (up 25 points) and PSO (up 20 points). Stocks that contributed negatively include HASCOL (down 8 points), PIBTL (down 6 points), COLG (down 4 points), TRG (down 4 points) and PSX (down 4 points).

Copyright Business Recorder, 2021

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