KARACHI: Pakistan Stock Exchange Monday witnessed a bullish trend and closed on a strong positive note with healthy gains due to fresh buying, mainly by local investors and institutions. BRIndex100 gained 30.77 points or 0.6 percent to close at 5,132.02 points.

BRIndex100 hit intraday high of 5,155.54 points and intraday low of 5,104.45 points. Volumes stood at 327.760 million shares.

BRIndex30 increased by 249.1 points or 1.0 percent to close at 25,087.69 points with a turnover of 190.361 million shares.

The KSE-100 Index surged by 229.17 points or 0.49 percent to close at 47,365.70 points. Daily trading volumes on the ready counter stood at 382.645 million shares as compared to 382.373 million shares traded last Friday.

Foreign investors however remained net sellers of shares worth $880,699. The market capitalization increased by Rs 21 billion to Rs 8.271 trillion. Out of total 605 active scrips, 309 closed in positive and 200 in negative while the value of 96 stocks remained unchanged.

Byco Petroleum was the volume leader with 42.954 million shares and gained Rs 0.59 to close at Rs 10.03 followed by Ghani Glo Hol that declined by Rs 2.35 to close at Rs 40.05 with 29.887 million shares. Rafhan Maize and Bata Pak were the top gainers increasing by Rs 225.00 and Rs 114.50 respectively to close at Rs 10250.00 and Rs 1749.50 while Colgate Palmolive and Wyeth Pak were the top losers declining by Rs 44.69 and Rs 39.90 respectively to close at Rs 2705.31 and Rs 1834.99.

BR Automobile Assembler Index gained 26.71 points or 0.27 percent to close at 9,885.76 points with total turnover of 5.225 million shares.

BR Cement Index increased by 70.95 points or 1.02 percent to close at 7,013.65 points with 8.901 million shares.

BR Commercial Banks Index declined by 102.93 points or 1.07 percent to close at 9,474.31 points with 22.838 million shares.

BR Power Generation and Distribution Index surged by 153.36 points or 2.81 percent to close at 5,612.33 points with 15.759 million shares.

BR Oil and Gas Index inched up by 33.16 points or 0.85 percent to close at 3,934.48 points with 15.991 million shares.

BR Tech. & Comm. Index closed at 4,747.55 points, up 51.55 points or 1.1 percent with 72.258 million shares.

An analyst at Arif Habib Limited said that market performed well after closing the roll-over week, where the index added a total of 332 points during the session and closed up 229 points.

The ascent in international crude oil prices, due to hurricane IDA, helped propel oil and gas chain, particularly E&P stocks. Power sector saw HUBC coming to the fore on the back of declaration of healthy dividends. Besides, cement, fertilizer, steel and technology stocks contributed positively to the Index. Banks, autos and textile sector saw continued profit booking.

Sectors contributing to the performance include Banks (down 109 points), Power (up 76 points), Refinery (up 43 points), E&P (up 42 points), Cement (up 41 points) and Fertilizer (up 35 points).

Stocks that contributed positively to the index include HUBC (up 75 points), ENGRO (up 31 points), OGDC (up 26 points), PPL (up 22 points) and TRG (up 17 points). Stocks that contributed negatively include MEBL (down 49 points), HBL (down 38 points), MCB (down 14 points), MARI (down 11 points) and UBL (down 10 points).

Copyright Business Recorder, 2021

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