KARACHI: Pakistan Stock Exchange Monday witnessed a bull-run and closed on strong positive note with healthy gains on the back of across the board aggressive buying on available attractive low levels.
The KSE-100 Index surged by 1,215.89 points or 2.76 percent and crossed 45,000 psychological level at 45,330.05 points. Trading activity however remained low as daily volumes on ready counter decreased to 268.238 million shares as compared to 289.847 million shares traded on previous session.
BRIndex100 gained 149.91 points or 3.33 percent to close at 4,653.08 points with total daily turnover of 218.257 million shares.
BRIndex30 increased by 571.74 points or 3.14 percent to close at 18,772.82 points with total daily trading volumes of 127.491 million shares.
The market capitalization increased by Rs 171 billion to Rs 7.758 trillion. Out of total 358 active scrips, 263 closed in positive and only 76 in negative while the value of 19 stocks remained unchanged.
Fauji Foods (R) was the volume leader with 14.852 million shares however lost Rs 0.31 to close at Rs 0.82 followed by TPL Properties that increased by Rs 2.57 to close at Rs 45.80 with 14.740 million shares.
Sapphire Fiber and Pak Tobacco were the top gainers increasing by Rs 58.00 and Rs 52.19 respectively to close at Rs 898.00 and Rs 1082.45 while Gatron Industries and Bata Pak were the top losers declining by Rs 43.20 and Rs 24.85 respectively to close at Rs 532.80 and Rs 1875.00.
An analyst at Arif Habib Limited said that the KSE-100 Index witnessed a bull-run as it gained more than 1,200 points in intraday trading to cross 45,000 points, lifted by the Cabinet approval to revive Saudi Arabia’s $3 billion support package for Pakistan in safe deposits and $1.2 billion worth of oil supplies on deferred payments.
Major dip in crude oil prices created positive momentum in the market despite emergence of a new variant of Covid-19.
The perception of investors towards last leg of foreign selling spree being completed last week created opportunity for intra-day traders.
Sectors contributing to the performance include Commercial Banks (up 283 points), Cement (up 211 points), E&P (up 139 points), Fertilizer (up 100 points) and OMC’s (up 76 points).
BR Automobile Assembler Index gained 99.46 points or 1.16 percent to close at 8,663.25 points with total turnover of 4.432 million shares.
BR Cement Index surged by 298.27 points or 5.28 percent to close at 5,945.05 points with 18.744 million shares. BR Commercial Banks Index increased by 262.03 points or 2.62 percent to close at 10,269.41 points with 21.582 million shares.
BR Power Generation and Distribution Index added 126.25 points or 2.35 percent to close at 5,493.50 points with 6.237 million shares.
BR Oil and Gas Index inched up by 127.15 points or 3.51 percent to close at 3,754.39 points with 16.625 million shares.
BR Tech. & Comm. Index closed at 3,867.73 points, up 81.35 points or 2.15 percent with 44.577 million shares.
Copyright Business Recorder, 2021
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