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KARACHI: Pakistan Stock Exchange Monday witnessed a positive trend and closed in green on the back of healthy buying, mainly by local investors. BRIndex100 gained 18.12 points or 0.37 percent to close at 4,972.74 points. BRIndex100 hit intraday high of 5,008.21 points and intraday low of 4,969.33 points. Volumes stood at 680.296 million shares.

BRIndex30 inched up by 77.42 points or 0.3 percent to close at 25,825.81 points with a turnover of 514.743 million shares.

The KSE-100 Index increased by 182.13 points or 0.40 percent and crossed 46,000 psychological level to close at 46,097.11 points. Trading activity also improved as daily volumes on ready counter increased to 766.643 million shares as compared to 710.428 million shares traded on previous session.

Foreign investors however remained net sellers of shares worth $4.313 million. Total market capitalization increased by Rs 37 billion to Rs 7.999 trillion. Out of total 408 active scrips, 242 closed in positive and 149 in negative while the value of 17 stocks remained unchanged.

WorldCall Telecom was the volume leader with 275.888 million shares and gained Rs 0.26 to close at Rs 2.14 followed by Silk Bank that inched up by Rs 0.06 to close at Rs 1.45 with 36.611 million shares. Colgate Palmolive and Wyeth Pak were the top gainers increasing by Rs 135.00 and Rs 119.64 points respectively to close at Rs 2994.00 and Rs 1714.96 while Unilever Foods and Bata Pak were the top losers declining by Rs 207.94 and Rs 122.94 respectively to close at Rs 15,671.96 and Rs 1627.06.

BR Automobile Assembler Index surged by 187.55 points or 2.09 percent to close at 9,152.99 points with total turnover of 8.111 million shares.

BR Cement Index increased by 119.54 points or 1.64 percent to close at 7,409.06 points with 29.393 million shares.

BR Commercial Banks Index gained 48.24 points or 0.54 percent to close at 8,971.31 points with 88.503 million shares.

BR Power Generation and Distribution Index lost 28.88 points or 0.52 percent to close at 5,515.94 points with 17.552 million shares.

BR Oil and Gas Index inched up by 3.19 points or 0.08 percent to close at 3,933.72 points with 45.412 million shares.

BR Tech. & Comm. Index closed at 4,024.06 points, down 1.83 points or 0.05 percent with 351.608 million shares.

An analyst at Arif Habib Limited said that the market posted decent gains earlier in the session by adding a total of 400 points, taking cue from Moody’s assessment of Pakistan’s credit reporting which was supported by a surprise growth in real GDP. Although the roll-over week began, unlike past months activity remained low in tech stocks and in the end TRG closed below LDCP.

E&P stocks remained poised on increase in crude oil prices, whereby OGDC scored high volume with an increase in stock price but failed to retain the gains by the end of session. Cement sector bounced back on the prospects of an impending increase in cement price/bag.

Sectors contributing to the performance include Cement (up 87 points), Banks (up 42 points), Autos (up 35 points), Fertilizer (up 26 points) and Chemical (up 22 points).

Stocks that contributed positively to the index include SYS (up 24 points), MTL (up 23 points), PPL (up 21 points), MLCF (up 21 points) and COLG (up 20 points). Stocks that contributed negatively include TRG (down 43 points), HUBC (down 12 points), PSO (down 12 points), MARI (down 8 points) and SEARL (down 7 points).

Copyright Business Recorder, 2021

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