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Pakistan Stock Exchange closed on a strong positive note with healthy gains on the second day in a row Thursday.

BRIndex100 gained 109.45 points or 3.21 percent to close at 3,516.34 points. BRIndex100 touched intraday high of 3,523.88 and intraday low of 3,406.89 points. Volumes stood at 269.577 million shares.

BRIndex30 increased by 840.98 points or 4.84 percent to close at 18,211.91 points with a turnover of 211.794 million shares.

The KSE-100 Index surged by 952.80 points or 2.87 percent to close at 34,111.64 points. Trading activity also improved significantly as daily volumes on the ready counter increased to 292.086 million shares as compared to 140.473 million shares traded Wednesday.

Foreign investors however remained on the selling side and withdrew $6.7 million from the capital market. The market capitalization increased by Rs 152 billion to Rs 6.376 trillion. Out of total 367 active scrips, 284 closed in positive, only 73 in negative while the value of 10 stocks remained unchanged.

Hascol Petroleum was the volume leader with 37.782 million shares. It gained Re 0.55 to close at Rs 15.18 followed by Pak Elektron that increased by Rs 1.50 to close at Rs 24.09 with 27.035 million shares.

Colgate Palmolive and Rafhan Maize were the top gainers with Rs 150.75 and Rs 150.00, respectively to close at Rs 2,160.75 and Rs 6,950.00. Pak Tobacco and Philip Morris Pak were the top losers with Rs 44.00 and Rs 35.00, respectively to close at Rs 1,620.00 and Rs 1,802.00.

BR Automobile Assembler Index increased by 250.83 points or 4.84 percent to close at 5,438.52 points with total turnover of 2.639 million shares.

BR Cement Index gained 73.63 points or 1.73 percent to close at 4,331.87 points with 53.693 million shares.

BR Commercial Banks Index inched up by 121.24 points or 1.8 percent to close at 6,868.20 points with 17.550 million shares.

BR Power Generation and Distribution Index closed at 4,732.95 points, up 167.08 points or 3.66 percent with 18.497 million shares.

BR Oil and Gas Index surged by 228.08 points or 6.97 percent to close at 3,498.20 points with 70.282 million shares.

BR Tech. & Comm. Index gained 8.85 points or 1.01 percent to close at 887.43 points with 14.066 million shares.

An analyst at Arif Habib Limited said that just before the long weekend, the market went north with a jump of 1,020 points during the session, closing up 953 points, courtesy of rising crude oil prices, expectation of rate cut and relaxation in lockdown.

Activity was observed across the board, with major contribution from oil and gas stocks i.e. E&P, OMCs, with OGDC, PPL and POL hitting upper circuits and realizing high volume trades at that level. Banking sector stocks remained relatively muted, whereas Cement, Fertilizer and Steel sectors made considerable stride forward. Cement sector topped the chart with 53.6 million shares, followed by O&GMCs (45 million shares) and Cable (28.1 million shares).

Sectors contributing to the performance include E&P (up 308 points), Banks (up 137 points), Power (up 94 points), Fertilizer (up 87 points) and O&GMCs (up 84 points).

Stocks that contributed positively to the index include OGDC (up 105 points), PPL (up 93 points), HUBC (up 82 points), POL (up 64 points) and MCB (up 50 points). Stocks that contributed negatively include PAKT (down 12 points), DAWH (down 11 points), PSEL (down 9 points), SYS (down 3 points) and PMPK (down 2 points).

Copyright Business Recorder, 2020