BRIndex100 stays bullish

Pakistan Stock Exchange witnessed another bullish session on the back of healthy buying in various sectors. BRIndex100 gained 59.93 points or 1.28 percent to close at 4,755.17 points Friday. BRIndex100 touched intraday high of 4,757.66 and intraday low of 4,694.66 points. Volumes stood at 188.225 million shares. BRIndex30 increased by 374.84 points or 1.55 percent to 24,490.94 points with a turnover of 134.828 million shares.
The benchmark KSE-100 index surged by 597.95 points or 1.37 percent to 44178.83 points. Daily trading volumes however decreased to 209.472 million shares as compared to 268.457 million shares traded Thursday. The market capitalization increased by Rs 106 billion to Rs 9.093 trillion. Out of total 378 active scrips, 271 closed in positive, only 92 in negative while the value of 15 stocks remained unchanged.
WorldCall Telecom was the volume leader with 12.962 million shares. It gained Re 0.07 to close at Rs 2.87 followed by Sui Southern Gas Company that increased by Rs 1.18 to close at Rs 34.59 with 12.224 million shares. Nestle Pakistan and Indus Motor Co were the top gainers with Rs 539.00 and Rs 80.60, respectively to close at Rs 11,339.00 and Rs 1,850.72. Bata Pak and Rafhan Maize were the top losers with Rs 73.99 and Rs 50.00, respectively to close at Rs 2,426.01 and Rs 7,200.00. BR Commercial Banks Index gained 106.1 points or 1.2 percent to close at 8,952.53 points with total turnover of 15.137 million shares.
BR Cement Index increased by 144.68 points or 2.53 percent to close at 5,867.39 points with 33.988 million shares. BR Oil and Gas Index lost 8.87 points or 0.17 percent to close at 5,303.26 points with 20.649 million shares. BR Tech. & Comm. Index inched up by 10.47 points or 0.92 percent to close at 1,147.80 points with 22.250 million shares.
BR Power Generation and Distribution Index closed at 6,428.85 points, up 109.96 points or 1.74 percent with 7.298 million shares. An analyst at Arif Habib Limited said that the market rejected Thursday''s despondency created by a tweet of PTI''s chairman and maintained where it left yesterday. First session showed an upside of 250 points and continued rallying in second session by increasing another 350 points. The Index climbed back again above 44,000. Foreigners are likely to have contributed, who have so far injected $ 76 million in January in Banks, Cement and E&P stocks. Compared with the activity past few days, INDU, MTL, PSMC and ABOT contributed significantly to performance. Early next week is expected to continue positive momentum.
Sectors contributing to this increase were Commercial Banks (up 123 points), Cement (up 112 points), Automobile Assembler (up 84 points) and Fertilizer (up 71 points). Scrips that contributed positively include HBL (up 38 points), UBL (up 35 points), ENGRO (up 35 points), LUCK (up 31 points) and MTL (up 30 points). Stocks that contributed negatively include OGDC (down 38 points), NRL (down 10 points), MARI (down 5 points), PAKT (down 4 points) and JGICL (down 3 points).