KARACHI: Continuous buying by both local and foreign investors Thursday supported the Pakistan Stock Exchange to stay bullish throughout the session and to close on strong positive note. The benchmark
KSE-100 Index hit 44,595.85 points intra-day high level and closed at 44,416.20 points with a net gain of 156.09 points or 0.35 percent. Daily trading volumes on ready counter stood at 243.084 million shares as compared to 271.113 million shares traded Wednesday.
BRIndex100 gained 14.93 points or 0.33 percent to close at 4,568.00 points with total daily turnover of 207.346 million shares.
BRIndex30 increased by 231.26 points or 1.2 percent to close at 19,562.65 points with a turnover of 137.974 million shares.
Foreign investors also remained net buyers of shares worth $4.128 million. Total market capitalization increased by Rs 29 billion to Rs 7.621 trillion. Out of total 373 active scrips, 202 closed in positive and 149 in negative while the value of 22 stocks remained unchanged.
K-Electric was the volume leader with 22.927 million shares and gained Rs 0.03 to close at Rs 3.45 followed by Treet Corp that increased by Rs 1.22 to close at Rs 42.33 with 19.087 million shares.
Sapphire Textile and Sapphire Fiber were the top gainers increasing by Rs 74.80 and Rs 57.00 respectively to close at Rs 1072.80 and Rs 972.00 while Colgate Palmolive and Rafhan Maize were the top losers declining by Rs 177.99 and Rs 100.00 respectively to close at Rs 2277.01 and Rs 9400.00.
An analyst at Arif Habib Limited said that the KSE-100 Index stayed in the green zone ahead of mini-budget. Cement sector remained in the limelight as cement stocks rallied in the first trading hour due to reduction in international coal prices.
In banking sector, MEBL stayed in the limelight as SBP for the first time has introduced Shariah-compliant liquidity facilities for Islamic banking institutions to enable them to offer better returns and rates to their customers on deposits and loans. Moreover, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd-tier stocks.
Sectors contributing to the performance include Technology and Communication (up 79 points), Commercial Banks (up 60 points), Fertilizer (up 44 points) Cement (up 32 points) and Tobacco (up 16 points).
BR Automobile Assembler Index gained 31.42 points or 0.37 percent to close at 8,509.93 points with total turnover of 3.492 million shares.
BR Cement Index added 52.47 points or 0.92 percent to close at 5,772.37 points with 18.818 million shares.
BR Commercial Banks Index inched up by 62.9 points or 0.65 percent to close at 9,697.70 points with 15.665 million shares.
BR Power Generation and Distribution Index lost 8.61 points or 0.15 percent to close at 5,547.63 points with 26.543 million shares. BR Oil and Gas Index closed at 3,732.81 points, down 34.8 points or 0.92 percent with 10.969 million shares.
BR Tech. & Comm. Index increased by 90.48 points or 2.17 percent to close at 4,260.99 points with 48.574 million shares.
Copyright Business Recorder, 2021
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