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KARACHI: Pakistan Stock Exchange Tuesday turned bullish on the back of across the board aggressive buying, mainly by local investors coupled with institutional support.

The KSE-100 Index surged by 806.65 points or 1.76 percent and once again crossed 46,000 psychological to close at 46,542.91 points. Trading activities also improved as daily volumes on ready counter increased to 243.193 million shares as compared to 172.851 million shares traded Monday.

BRIndex100 gained 123.69 points or 2.62 percent to close at 4,838.80 with total daily trading volumes of 191.249 million shares.

BRIndex30 increased by 795.77 points or 3.9 percent to close at 21,190.58 points with total daily turnover of 109.438 million shares.

Foreign investors however remained on the selling side and withdrew $3.369 million from local equity market. Total market capitalization increased by Rs 117 billion to Rs 7.924 trillion. Out of total 351 active scrips, 239 closed in positive and only 89 in negative while the value of 23 stocks remained unchanged.

Ghani Global Holding was the volume leader with 16.613 million shares however lost Rs 0.42 to close at Rs 33.73 followed by TPL Properties that increased by Rs 3.28 to close at Rs 51.95 with 15.243 million shares. Wyeth Pak and Sapphire Fiber were the top gainers increasing by Rs 120.05 and Rs 55.50 respectively to close at Rs 1720.72 and Rs 795.50 while Unilever Foods and Philip Morris Pak were the top losers declining by Rs 49.50 and Rs 33.99 respectively to close at Rs 18,900.00 and Rs 752.01.

Ahsan Mehanti at Arif Habib Corporation said that stocks showed sharp recovery led by scrips across the board on robust data on textile exports surging by 26.6 percent in July-October 2021 and remittance over $2.5 billion in October 2021 showing rupee recovery.

He said surging global equities and global crude oil prices and speculations ahead of resumption of IMF program played a catalyst role in bullish close.

BR Automobile Assembler Index gained 151.72 points or 1.76 percent to close at 8,765.11 points with total turnover of 2.506 million shares.

BR Cement Index surged by 280.15 points or 4.64 percent to close at 6,314.48 points with 21.854 million shares.

BR Commercial Banks Index inched up by 57.46 points or 0.58 percent to close at 10,013.32 points with 11.076 million shares.

BR Power Generation and Distribution Index increased by 181.06 points or 3.38 percent to close at 5,532.65 points with 12.512 million shares.

BR Oil and Gas Index added 78.34 points or 2.07 percent to close at 3,857.53 points with 15.030 million shares.

BR Tech. & Comm. Index closed at 4,520.29 points, up 149.34 points or 3.42 percent with 40.938 million shares.

Copyright Business Recorder, 2021

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