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KARACHI: Pakistan Stock Exchange Thursday made a remarkable recovery and closed on strong positive note with healthy gains as investors cherry-picked on attractive valuations across-the-board.

BRIndex100 gained 146.9 points or 3.29 percent to close at 4,617.94 points. During the session, the BRIndex100 hit intraday high of 4,626.40 points and intraday low of 4,451.14 points. Total volumes stood at 339.268 million shares.

BRIndex30 increased by 1044.1 points or 5.29 percent to close at 20,796.03 points with total daily turnover of 229.926 million shares.

The KSE-100 Index surged by 1111.90 points or 2.74 percent and crossed 44,000 psychological level at 44,333.68 points. Trading activities also improved as daily volumes on ready counter increased to 388.597 million shares as compared to 354.964 million shares traded on Wednesday.

The market capitalization increased by Rs 165 billion to Rs 7.747 trillion. Out of total 557 active scrips, 464 closed in positive and only 79 in negative while the value of 14 stocks remained unchanged.

WorldCall Telecom was the volume leader with 66.164 million shares and gained Rs 0.37 to close at Rs 2.43 followed by Unity Foods that increased by Rs 1.98 to close at Rs 28.50 with 25.029 million shares. Unilever Foods and Nestle Pakistan were the top gainers increasing by Rs 600.00 and Rs 135.00 respectively to close at Rs 21000.00 and Rs 5850.00 while Highnoon Lab and Pak Engineering were the top losers declining by Rs 17.17 and Rs 14.50 respectively to close at Rs 575.10 and Rs 330.50.

BR Automobile Assembler Index added 85.02 points or 1.02 percent to close at 8,382.14 points with total turnover of 3.279 million shares.

BR Cement Index surged by 311.77 points or 5.95 percent to close at 5,548.78 points with 22.133 million shares.

BR Commercial Banks Index increased by 216.31 points or 2.28 percent to close at 9,699.24 points with 30.512 million shares.

BR Power Generation and Distribution Index gained 37.97 points or 0.71 percent to close at 5,400.68 points with 10.645 million shares.

BR Oil and Gas Index inched up by 56.3 points or 1.53 percent to close at 3,727.33 points with 23.987 million shares.

BR Tech. & Comm. Index closed at 4,301.98 points, up 218.68 points or 5.36 percent with 132.919 million shares.

Neelam Naz at JS Global Capital said that the KSE-100 Index made a remarkable recovery as investors cherry-picked on attractive valuations across the board.

WTL (up 18 percent), UNITY (up 7.5 percent), TELE (up 7.5 percent), TREET (up 7.5 percent) and HASCOL (up 0.6 percent) contributed significantly towards total traded volume of 389 million shares. Healthy activity after long was witnessed in blue chip stocks.

Copyright Business Recorder, 2021

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