Pakistan Stock Exchange warmly welcomed the New Year and witnessed a bullish trend Wednesday on the back of healthy buying in almost all sectors.
BRIndex100 gained 88.93 points or 2.09 percent to close at 4,337.25 points. BRIndex100 touched intraday high of 4,337.25 and intraday low of 4,248.88 points. Volumes stood at 310.258 million shares.
BRIndex30 increased by 314.11 points or 1.4 percent to close at 22,711.40 points with a turnover of 246.006 million shares.
The KSE-100 Index surged by 664.92 points or 1.63 percent to close at 41,400.00 points. Trading activity also improved significantly as daily volumes on the ready counter increased to 330.740 million shares as compared to 177.121 million shares traded Tuesday.
The market capitalization increased by Rs 73 billion to Rs 7.884 trillion. Out of total 361 active scrips, 280 closed in positive, only 67 in negative while the value of 14 stocks remained unchanged.
K-Electric was the volume leader with 119.386 million shares. It gained Re 0.39 to close at Rs 4.76 followed by Unity Foods that inched up by Re 0.72 to close at Rs 16.83 with 26.567 million shares. Colgate Palmolive and Sapphire Textile were the top gainers with Rs 50.00 and Rs 41.00, respectively to close at Rs 2,400.00 and Rs 1,045.00. Pak Tobacco and Bata Pak were the top losers with Rs 120.54 and Rs 17.54, respectively to close at Rs 2,320.01 and Rs 1,975.52.
BR Automobile Assembler Index gained 57.84 points or 0.92 percent to close at 6,332.59 points with total turnover of 1.095 million shares.
BR Cement Index inched up by 62.63 points or 1.73 percent to close at 3,691.36 points with 18.838 million shares.
BR Commercial Banks Index surged by 235.17 points or 2.51 percent to close at 9,586.60 points with 17.308 million shares.
BR Power Generation and Distribution Index closed at 5,609.53 points, up 26.96 points or 0.48 percent with 121.457 million shares.
BR Oil and Gas Index increased by 57.68 points or 1.21 percent to close at 4,813.78 points with 11.473 million shares.
BR Tech. & Comm. Index gained 29.57 points or 3.01 percent to close at 1,010.66 points with 30.209 million shares.
Maaz Mulla at JS Global Capital said that the PSX gave a warm welcome to the New Year 2020, where the index made an intraday high of plus 809 points to close at 41,400 level.
Major contribution to the index came from HBL (up 3.5 percent), UBL (up 4.1 percent), ENGRO (up 2.6 percent), POL (up 3.5 percent) and MCB (up 1.9 percent). Investors' interest was witnessed in the banking and E&P sectors where HBL (up 3.5 percent), UBL (up 4.1 percent), BOP (up 3.5 percent), MCB (up 1.9 percent) POL (up 3.5 percent) and PPL (up 0.8 percent) were the major gainers.
Cement sector also enjoy the upward rally where PIOC (up 3.8 percent), FCCL (up 3.0 percent), MLCF (up 2.4 percent) and LUCK (up 2.0 percent) were the major movers.
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