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KARACHI: Pakistan Stock Exchange Thursday witnessed a bullish trend and closed on strong positive note with healthy gains on the back of fresh buying, mainly by local investors and institutions. BRIndex100 gained 113.24 points or 2.21 percent to close at 5,234.26 points. BRIndex100 hit intraday high of 5,235.56 points and intraday low of 5,119.84 points. Volumes stood at 415.203 million shares.

BRIndex30 increased by 831.45 points or 3.14 percent to close at 27,326.44 points with a turnover of 236.272 million shares.

The KSE-100 Index surged by 805.25 points or 1.70 percent and crossed 48,000 psychological level to close at 48,053.17 points. Trading activity also improved as daily volumes on ready counter increased to 475.239 million shares as compared to 412.203 million shares traded Wednesday.

Foreign investors however remained on the selling side and sold out shares worth $1.924 million. The market capitalization increased by Rs 111 billion to Rs 8.372 trillion. Out of total 429 active scrips, 312 closed in positive and only 96 in negative while the value of 21 stocks remained unchanged.

TPL Corp was the volume leader with 30.164 million shares and increased by Rs 1.28 to close at Rs 18.38 followed by WorldCall Telecom that closed at Rs 3.92, up Rs 0.01 with 28.433 million shares. Nestle Pakistan and Gatron Industries were the top gainers increasing by Rs 170.00 and Rs 35.63 respectively to close at Rs 5990.00 and Rs 510.78 while Wyeth Pak and Sapphire Fiber were the top losers declining by Rs 45.22 and Rs 44.00 respectively to close at Rs 2035.17 and Rs 796.00.

BR Automobile Assembler Index increased by 146.26 points or 1.5 percent to close at 9,899.72 points with total turnover of 10.510 million shares.

BR Cement Index surged by 197.11 points or 2.68 percent to close at 7,543.85 points with 35.123 million shares.

BR Commercial Banks Index added 98.68 points or 1.08 percent to close at 9,234.67 points with 35.825 million shares.

BR Power Generation and Distribution Index gained 95.57 points or 1.68 percent to close at 5,771.07 points with 23.148 million shares.

BR Oil and Gas Index inched up by 45.62 points or 1.13 percent to close at 4,075.71 points with 26.941 million shares.

BR Tech. & Comm. Index closed at 4,696.44 points, up 223.39 points or 4.99 percent with 117.659 million shares.

An analyst at Arif Habib Limited said that the market surged by 800 points during the session and closed at a high note of plus 805 points. Conversion of fixed income funds to equities from institutional investors played a vital role in the index uptick.

Brisk buying was observed in main board scrips, including HBL, UBL, PSO, SNGP, OGDC, ENGRO, HUBC, however, other sectors and scrips took cue as well, resulting in across the board buying activity.

Sectors contributing to the performance include Technology (up 163 points), Cement (up 144 points), Banks (up 107 points), Fertilizer (up 87 points) and Power (up 51 points).

Stocks that contributed positively to the index include TRG (up 121 points), LUCK (up 79 points), HUBC (up 40 points), SYS (up 35 points) and ENGRO (up 31 points). Stocks that contributed negatively include AGP (down 7 points), KOHC (down 5 points), ABOT (down 3 points), ANL (down 2 points) and ABL (down 2 points).

Copyright Business Recorder, 2021

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