Fresh buying in various sectors supported the Pakistan Stock Exchange to close on a positive note with healthy gains Friday. BRIndex100 gained 71.53 points or 2.19 percent to close at 3,341.40 points. BRIndex100 touched intraday high of 3,344.19 and intraday low of 3,269.87 points. Volumes stood at 122.211 million shares.
BRIndex30 increased by 506.68 points or 3.01 percent to close at 17,353.94 points with a turnover of 92.798 million shares. The KSE-100 Index surged by 636.92 points or 2.03 percent to cross 32,000 psychological level at 32,070.81 points. Trading activity also improved as daily volumes on the ready counter increased to 135.161 million shares as compared to 124.475 million shares traded Thursday.
The market capitalization increased by Rs 95 to Rs 6.409 trillion. Out of total 344 active scrips, 249 closed in positive, only 76 in negative while the value of 19 stocks remained unchanged.
K-Electric was the volume leader with 17.578 million shares. It gained Re 0.11 to close at Rs 3.63 followed by Bank of Punjab that inched up by Re 0.55 to close at Rs 8.75 with 14.359 million shares. Rafhan Maize and Mari Petroleum were the top gainers with Rs 290.00 and Rs 31.45, respectively to close at Rs 6,090.00 and Rs 907.19. Khyber Textile and Wyeth Pak were the top losers with Rs 14.91 and Rs 12.25, respectively to close at Rs 283.33 and Rs 615.00.
BR Automobile Assembler Index gained 55.57 points or 1.16 percent to close at 4,833.03 points with 669,670 shares.
BR Cement Index inched up by 71.05 points or 2.74 percent to close at 2,661.42 points with 22.768 million shares.
BR Commercial Banks Index increased by 152.88 points or 2.07 percent to close at 7,551.46 points with 20.968 million shares.
BR Power Generation and Distribution Index surged by 112.4 points or 2.61 percent to close at 4,424.39 points with 21.354 million shares.
BR Oil and Gas Index closed at 3,678.64 points, up 99.43 points or 2.78 percent with 12.306 million shares.
BR Tech. & Comm. Index gained 7.37 points or 1.12 percent to close at 666.40 points with 13.272 million shares.
An analyst at Arif Habib Limited said that the market opened on a positive note with plus 94 points although volume at the start was very low. By the end of first session, the KSE-100 Index grew by 261 points posting a volume of 36.9 million shares. The second session saw a significant jump in both volumes and points.
Besides oil chain (E&P, OMCs, Refinery), buying activity was observed in Cement sector (which had expectation of increase in Cement prices in North) and also in the Banking sector. Cement sector led the volumes with 22.7 million shares (courtesy of MLCF (13.1M) and DGKC (3.4 million shares)), followed by Banks (20.9 million shares) and Power (20.8 million shares). Among Banks, BOP traded the most with 14.4 million shares and Power sector had KEL with 17.6 million shares.
Sectors contributing to the performance include Banks (up 182 points), E&P (up 136 points), Power (up 61 points), Fertilizer (up 57 points) and Cement (up 49 points).
Stocks that contributed positively include HBL (up 74 points), OGDC (up 51 points), UBL (up 46 points), PPL (up 45 points) and HUBC (up 39 points). Stocks that contributed negatively include AGIL (down 2 points), THALL (down 2 points), COLG (down 1 point), SYS (down 1 point) and BWCL (down 1 point).
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