KARACHI: Pakistan Stock Exchange Thursday witnessed a bullish trend and closed on strong positive note on the back of healthy buying, mainly by local investors and institutions.
BRIndex100 gained 63.01 points or 1.21 percent to close at 5,271.63 points. BRIndex100 hit intraday high of 5,276.60 points and intraday low of 5,208.38 points. Volumes stood at 940.854 million shares.
BRIndex30 increased by 436.13 points or 1.6 percent to close at 27,647.71 points with a turnover of 672.659 million shares.
The KSE-100 Index surged by 473.87 points or 0.99 percent and once again crossed 48,000 psychological level to close at 48,251.49 points. Daily trading volumes on the ready counter stood at 1,039.362 million shares as compared to 1,355.169 million shares traded Wednesday.
Foreign investors however remained on the selling side and withdrew $2.559 million from Pakistan capital market. Total market capitalization increased by Rs 58 billion to Rs 8.350 trillion. Out of total 417 active scrips, 276 closed in positive and 117 in negative while the value of 24 stocks remained unchanged.
WorldCall Telecom was the volume leader with 329.074 million shares and gained Rs 0.03 to close at Rs 4.25 followed by K-Electric that closed on the previous day’s level of Rs 4.22 with 49.097 million shares. Rafhan Maize and Island Textile were the top gainers increasing by Rs 298.00 and Rs 125.88 respectively to close at Rs 9898.00 and Rs 2335.00 while Wyeth Pak and Mehmood Textile were the top losers declining by Rs 65.19 and Rs 35.00 respectively to close at Rs 2167.40 and Rs 470.00.
BR Automobile Assembler Index lost 21.47 points or 0.22 percent to close at 9,813.79 points with total turnover of 4.510 million shares.
BR Cement Index gained 22.46 points or 0.29 percent to close at 7,702.38 points with 38.755 million shares.
BR Commercial Banks Index increased by 104.44 points or 1.12 percent to close at 9,409.86 points with 23.407 million shares.
BR Power Generation and Distribution Index closed at 5,739.33 points, down 26.17 points or 0.45 percent with 58.599 million shares.
BR Oil and Gas Index inched up by 9.12 points or 0.22 percent to close at 4,095.49 points with 39.902 million shares.
BR Tech. & Comm. Index surged by 197.06 points or 4.58 percent to close at 4,499.82 points with 457.284 million shares.
An analyst at Arif Habib Limited said that the market traded positively, adding a total of 510 points on the bourse and closed the session at a bullish note with an increase of 474 points.
Banks, Fertilizer, Cement, Technology stocks ruled the day. Finance Minister’s comments while disclosing Economic Survey also helped the market propel.
Sectors contributing to the performance include Technology (up 155 points), Banks (up 116 points), Fertilizer (up 65 points), Vanaspati (up 36 points) and Textile (up 33 points).
Stocks that contributed positively to the index include TRG (up 128 points), UNITY (up 36 points), HBL (up 32 points), UBL (up 25 points) and SYS (up 24 points). Stocks that contributed negatively include HUBC (down 13 points), PPL (down 13 points), INDU (down 9 points), INIL (down 8 points) and DAWH (down 7 points).
Copyright Business Recorder, 2021