Pakistan Stock Exchange Tuesday witnessed a positive trend on the back of fresh buying, mainly by local investors and institutions.
BRIndex100 gained 45.88 points or 1.34 percent to close at 3,463.50 points. BRIndex100 hit 3,466.25 points intraday high and 3,417.62 points intra day low levels. Volumes stood at 196.415 million shares.
BRIndex30 increased by 263.44 points or 1.48 percent to close at 18,020.27 points.
The KSE-100 Index surged by 319.23 points or 0.96 percent to close at 33,603.02 points. Trading activity also improved as daily volumes on the ready counter increased to 224.534 million shares as compared to 198.248 million shares traded Monday.
Foreign investors remained net sellers of shares worth $1.5 million. Total market capitalization increased by Rs 43 billion to Rs 6.343 trillion. Out of total 345 active scrips, 204 closed in positive, 124 in negative while the value of 17 stocks remained unchanged.
Maple Leaf was the volume leader with 28.744 million shares. It increased by Rs 1.73 to close at Rs 27.41 followed by Unity Foods that lost Re 0.30 to close at Rs 12.85 with 23.139 million shares.
Colgate Palmolive and Bata Pak were the top gainers with Rs 69.95 and Rs 52.22, respectively to close at Rs 2,244.95 and Rs 1,383.56. Unilever Foods and Philip Morris Pak were the top losers declining by Rs 250.00 and Rs 122.74, respectively to close at Rs 9,600.00 and Rs 1,801.26.
BR Automobile Assembler Index gained 18.5 points or 0.34 percent to close at 5,472.72 points with total volumes of 3.225 million shares.
BR Cement Index surged by 219.99 points or 5.49 percent to close at 4,226.73 points with 76.201 million shares.
BR Commercial Banks Index inched up by 59.55 points or 0.9 percent to close at 6,706.61 points with 8.665 million shares.
BR Power Generation and Distribution Index surged by 37.77 points or 0.86 percent to close at 4,439.71 points with 10.347 million shares.
BR Oil and Gas Index increased by 7.73 points or 0.22 percent to close at 3,488.20 points with 18.916 million shares.
BR Tech. & Comm. Index closed at 1,025.52 points, up 2.93 points or 0.29 percent with 28.696 million shares.
An analyst at Arif Habib Limited said that the market went positive on the prospect of rate cut for which SBP will be taking decision by end of week, besides the government's stance on construction of Dams that is likely to generate demand for Cement and Steel.
Resultantly, Cement and Steel sectors ruled the index, mostly trading near upper circuits and generating high trading volumes. Banking and Oil & Gas sector stocks couldn't generate much interest amongst investors.
Cement sector topped the index with 75.8 million shares, followed by Technology (28.6 million shares) and Vanaspati (23.1 million shares).
Sectors contributing to the performance include Cement (up 150 points), Banks (up 67 points), Fertilizer (up 62 points), E&P (up 28 points), Power (up 24 points) and O&GMCs (down 16 points).
Stocks that contributed positively to the index include LUCK (up 50 points), ENGRO (up 31 points), HBL (up 29 points), MCB (up 28 points) and DGKC (up 26 points). Stocks that contributed negatively include SNGP (down 20 points), BAHL (down 9 points), PMPK (down 8 points), DAWH (down 7 points) and AICL (down 6 points).
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