A positive trend continued on Pakistan Stock Exchange due to fresh buying in various sectors. BRIndex100 gained 27.08 points or 0.58 percent to close at 4,697.01 points Tuesday. BRIndex100 touched intraday high of 4,707.01 and intraday low of 4,661.61 points. Volumes stood at 130.777 million shares. BRIndex30 increased by 90.15 points or 0.37 percent to 24,219.57 points with a turnover of 80.684 million shares.
The benchmark KSE-100 index surged by 207.15 points to 43,618.08 points. Trading activity also improved as daily volumes increased to 152.323 million shares as compared to 109.725 million shares traded Monday. Foreign investors remained net buyers of shares worth $1.4 million. The market capitalization increased by Rs 45 billion to Rs 9.066 trillion. Out of total 365 active scrips, 220 closed in positive, 126 in negative while the value of 19 stocks remained unchanged.
Azgard Nine was the volume leader with 8.965 million shares. It gained Re 0.84 to close at Rs 15.46 followed by Nimir Resins that inched up by Re 0.29 to close at Rs 8.49 with 8.293 million shares. Nestle Pakistan and Pak Tobacco were the top gainers with Rs 100.00 and Rs 39.95, respectively to close at Rs 12,350.00 and Rs 2,035.05. Rafhan Maize and Bhanero Textile were the top losers with Rs 100.00 and Rs 31.51, respectively to close at Rs 7,700.00 and Rs 700.00.
BR Commercial Banks Index increased by 39.5 or 0.45 percent to close at 8,744.31 points with total turnover of 17.225 million shares.
BR Cement Index gained 15.47 points or 0.26 percent to close at 5,960.43 points with 12.585 million shares. BR Oil and Gas Index inched up by 19.04 points of 0.37 percent to close at 5,184.12 points with 7.991 million shares. BR Tech. & Comm. Index closed at 1,199.76 points, up 9.27 points or 0.78 percent with 13.414 million shares.
BR Power Generation and Distribution Index surged by 26.87 points or 0.42 percent to close at 6,408.95 points with 3.200 million shares. Maaz Mullah at JS Global Capital said that Pakistan equities reiterated its positive momentum with benchmark KSE-100 making an intraday high of plus 296 points to settle at 43,618 levels. On the political front, Sadiq Sanjrani was elected as Senate Chairman, an independent candidate from Balochistan. He won with a margin of 11 votes in the 104-member Upper House. Moreover, Saleem Mandviwalla of Pakistan People's Party (PPP) received 54 votes to win the deputy chairman seat.
Major gainers to the index were MCB (up 1.28 percent), HUBC (up 1.51 percent), POL (up 1.01 percent), NBP (up 2.44 percent) and UBL (up 0.57 percent) contributing plus 81 points to the index. Investor interest was witnessed in SNGP (up 1.0 percent) and SSGC (up 2.47 percent) from gas utilities on back of the news of the government deciding to increase gas prices by 5-7 per cent, involving additional revenue of Rs 18 billion to cover losses of the two gas utilities. E&P sector closed higher as crude oil prices edged higher in international market. POL (up 1.01 percent) and OGDC (up 0.26 percent) were the major gainers of the mentioned sector.
Steel sector continued to show positive momentum on back of rumors of increase in steel prices. INIL (up 2.05 percent), MUGHAL (up 2.87 percent) and ASTL (up 1.01 percent) closed in the green zone.