Pakistan Stock Exchange Monday opened on a strong positive note and remained bullish throughout the session on the back of aggressive buying mainly by local investors and institutions.
BRIndex100 gained 82.73 points or 2.45 percent to close at 3,458.79 points. BRIndex100 touched intraday high of 3,492.86 and intraday low of 3,376.06 points. Volumes stood at 349.692 million shares.
BRIndex30 increased by 237.25 points or 1.38 percent to close at 17,427.41 points with a turnover of 260.515 million shares.
The KSE-100 Index surged by 667.82 points or 2.03 percent to close at 33,499.65 points. Trading activity also improved significantly as daily volumes on the ready counter increased to 399.906 million shares as compared to 302.398 million shares traded last Friday.
The market capitalization increased by Rs 55 billion to Rs 6.260 trillion. Out of total 375 active scrips, 194 closed in positive, 154 in negative and the value of 27 stocks remained unchanged.
Maple Leaf was the volume leader with 39.641 million shares. It increased by Rs 1.88 to close at Rs 27.05 followed by Fauji Cement that gained Re 0.42 to close at Rs 17.35 with 35.515 million shares. Rafhan Maize and Nestle Pakistan were the top gainers with Rs 165.00 and Rs 79.88, respectively to close at Rs 6,870.00 and Rs 5,699.88. Philip Morris Pak and Pak Tobacco were the top losers with Rs 157.39 and Rs 59.19, respectively to close at Rs 1,941.51 and Rs 1,609.81.
BR Automobile Assembler Index increased by 216.48 points or 4.37 percent to close at 5,169.98 points with total turnover of 2.438 million shares.
BR Cement Index surged by 252.21 points or 6.34 percent to close at 4,232.41 points with 115.873 million shares.
BR Commercial Banks Index gained 73.98 points or 1.07 percent to close at 7,004.07 points with 31.260 million shares.
BR Power Generation and Distribution Index inched up by 76.98 points or 1.73 percent to close at 4,530.85 points with 24.229 million shares.
BR Oil and Gas Index closed at 3,285.47 points, up 25.49 points or 0.78 percent with 45.144 million shares.
BR Tech. & Comm. Index gained 26.03 points or 3.04 percent to close at 882.60 points with 33.440 million shares.
Danish Ladhani at JS Global Capital said that the KSE-100 Index extended its previous gains by almost 668 points, a rise of 2 per cent to close at 33,499 levels.
The market remained bullish throughout the trading session whereas cements were the major gainers as DGKC (up 7.5 percent), LUCK (up 7.2 percent), MLCF (up 7.5 percent), PIOC (up 7.5 percent) and ACPL (up 7.5 percent) all closed in the upper circuit.
E&P came under the hammer as the international oil prices extended weakness on the back of sliding demand and concerns that U.S. storage facilities will soon fill to the brim amid the coronavirus pandemic, OGDC (down 0.1 percent) and PPL (down 1.0 percent) closed in the red. Namely, LUCK (up 7.2 percent), ENGRO (up 7.55 percent), UBL (up 2.1 percent), HBL (up 2.0 percent) and FFC (up 4.3 percent) cumulatively contributed towards the positive index close.