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KARACHI: Pakistan Stock Exchange witnessed bullish trend on the first day of new fiscal year and closed on strong positive note with healthy gains on the back of fresh buying, mainly by local investors in almost all sectors.

BRIndex100 gained 55.81 points or 1.09 percent to close at 5,199.08 points. BRIndex100 hit intraday high of 5,215.50 and intraday low of 5,148.18 points. Volumes stood at 667.207 million shares.

BRIndex30 increased by 316.17 points or 1.17 percent to close at 27,294.71 points with total daily turnover of 416.096 million shares.

The KSE-100 Index surged by 444.55 points or 0.94 percent to close at 47,800.57 points. Trading activity also improved as daily volumes on ready counter increased to 760.008 million shares as compared to 549.666 million shares traded on previous session.

Foreign investors however remained on the selling side and withdrew $1.386 million from Pakistan capital market. Total market capitalization increased by Rs 87 billion to Rs 8.384 trillion. Out of total 421 active scrips, 302 closed in positive and 107 in negative while the value of 12 stocks remained unchanged.

WorldCall Telecom was the volume leader with 199.480 million shares and gained Rs 0.14 to close at Rs 4.10 followed by Silk Bank that closed at Rs 2.00, down Rs 0.01 with 51.438 million shares. Unilever Foods and Colgate Palmolive were the top gainers increasing by Rs 616.25 and Rs 144.97 respectively to close at Rs 16990.00 and Rs 2644.97 while Wyeth Pak and Bata Pak were the top losers declining by Rs 43.55 and Rs 42.13 respectively to close at Rs 2085.44 and Rs 1672.27.

BR Automobile Assembler Index increased by 113.76 points or 1.18 percent to close at 9,781.52 points with total turnover of 12.217 million shares.

BR Cement Index surged by 151.12 points or 2.06 percent to close at 7,489.89 points with 45.482 million shares.

BR Commercial Banks Index inched up by 9.72 points or 0.11 percent to close at 9,114.93 points with 68.217 million shares.

BR Power Generation and Distribution Index added 80.9 points or 1.42 percent to close at 5,793.11 points with 19.031 million shares.

BR Oil and Gas Index gained 49.27 points or 1.22 percent to close at 4,091.92 points with 24.073 million shares.

BR Tech. & Comm. Index closed at 4,550.69 points, up 34.96 points or 0.77 percent with 331.084 million shares.

An analyst at Arif Habib Limited said that the market performed well on the first day of FY22, adding a total of 487 points on the board and maintained the momentum by session’s end, closing plus 445 points.

Profit-booking by institutions in the past couple of sessions in the wake of closing FY21 with decent returns, left the institutions with deployable funds that will likely route back to equities in the coming days.

Buying activity was observed across the board with Technology, Cement and Banking stocks contributing the most. Positive news trigger on economic front, including textile sector posting healthy export growth kept the momentum alive.

Sectors contributing to the performance include Cement (up 102 points), E&P (up 67 points), Textile (up 41 points), Chemical (up 34 points) and Fertilizer (up 29 points). Stocks that contributed positively to the index include LUCK (up 65 points), PPL (up 30 points), COLG (up 22 points), NML (up 21 points) and HBL (up 19 points). Stocks that contributed negatively include MCB (down 12 points), BAFL (down 11 points), TRG (down 7 points), ABL (down 6 points) and PKGS (down 5 points).

Copyright Business Recorder, 2021

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