Pakistan Stock Exchange Wednesday witnessed a bullish trend on the back of healthy buying in various sectors. BRIndex100 gained 42.56 points or 1.0 percent to close at 4,300.58 points. BRIndex100 touched intraday high of 4,304.68 and intraday low of 4,222.73 points. Total volumes stood at 123.579 million shares. BRIndex30 increased by 283.04 points or 1.26 percent to close at 22,778.82 points with total turnover of 88.935 million shares. The KSE-100 index surged by 322.31 points or 0.81 percent and closed at 40,279.38 points. Trading activities also improved as daily volumes on ready counter increased to 132.089 million shares as compared to 94.392 million shares traded on Tuesday.
Foreign investors remained net buyers of shares worth $0.8 million. Total market capitalization increased by Rs 40 billion to Rs 7.977 trillion. Out of total 337 active scrips, 165 closed in negative and 141 in positive while the value of 31 stocks remained unchanged. Pak Int. Bulk Terminal was the volume leader with 17.825 million shares. However, it lost Re 0.77 to close at Rs 11.27 followed by Bank of Punjab that gained Re 0.28 to close at Rs 13.59 with 7.558 million shares.
Colgate Palmolive and Mari Petroleum were the top gainers with Rs 50.00 and Rs 27.48, respectively to close at Rs 2,050.00 and Rs 1,301.75. Wyeth Pak and ICI Pakistan were the top losers with Rs 22.67 and Rs 22.42, respectively to close at Rs 1,104.33 and Rs 695.42. BR Commercial Banks Index increased by 114.05 points or 1.33 percent to close at 8,679.95 points with total turnover of 18.865 million shares. BR Cement Index gained 25.96 points or 0.6 percent to close at 4,357.77 points with 12.915 million shares. BR Oil and Gas Index closed at 4,962.81 points, up 54.25 points or 1.11 percent with 9.704 million shares.
BR Tech. & Comm. Index inched up by 2.98 points or 0.29 percent to close at 1,013.74 points 7.017 million shares. BR Power Generation and Distribution Index declined by 44.74 points or 0.71 percent to close at 6,260.52 points with 11.456 miollion shares. Ahsan Mehanti at Arif Habib Corporation said that stocks closed bullish led by oversold oil and banking scrips as investor weigh UN, China offers on mediation to ease off Pak-India tensions. Mid-session pressure remained in cement stocks amid order cancellations and raise in custom duty on Pakistan imports in India. Support remained in Pharma sector on likely imposition of 200 percent Regulatory Duty on Indian imports in Pakistan. He said higher global crude oil prices, foreign inflows and strong financial results in oil sector played a catalyst role in bullish close.