RECORDER REPORT
KARACHI: A bullish trend continued on Pakistan Stock Exchange on the back of healthy buying, mainly by institutions in various sectors.
BRIndex100 gained 50.91 points or 1.15 percent to close at 4,491.54 points Thursday. BRIndex100 touched intraday high of 4,497.86 and intraday low of 4,440.43 points. Volumes stood at 199.084 million shares.
BRIndex30 increased by 465.18 points or 2.07 percent to 22,943.61 points with a turnover of 142.098 million shares.
The benchmark KSE-100 index surged by 364.44 points to 41,908.71 points. Daily trading volumes on the ready counter stood at 222.352 million shares as compared to 233.607 million shares traded Wednesday.
The market capitalization increased by Rs 69 billion to Rs 8.775 trillion. Out of total 364 active scrips, 200 closed in positive, 142 in negative while the value of 22 stocks remained unchanged.
K-Electric was the volume leader with 34.058 million shares. It gained Re 0.20 to close at Rs 6.95 followed by PTCL that increased by Re 0.62 to close at Rs 13.74 with 11.353 million shares.
Unilever Foods and Nestle Pakistan were the top gainers with Rs 283.97 and Rs 263.89, respectively to close at Rs 7,599.00 and Rs 11,190.00. Colgate Palmolive and Shield Corp were the top losers with Rs 130.00 and Rs 28.62, respectively to close at Rs 2,650.00 and Rs 543.82.
BR Commercial Banks Index increased by 106.13 points or 1.27 percent to close at 8,480.21 points with total turnover of 24.319 million shares.
BR Cement Index gained 69.11 points or 1.3 percent to close at 5,385.70 points with 27.405 million shares.
BR Oil and Gas Index closed at 5,182.95 points, up 11.03 points or 0.21 percent with 10.651 million shares.
BR Tech. & Comm. Index inched up by 25.79 points or 2.42 percent to close at 1,089.61 points with 28.844 million shares.
BR Power Generation and Distribution Index surged by 73.17 points or 1.13 percent to close at 6,522.37 points with 35.938 million shares.
An analyst at JS Global Capital said that bears were defeated despite of tension in the political environment. Market opened positive and touched a high of positive 451 points as institutional participation was witnessed mainly in the main board stocks. Market remained positive throughout the day and closed at 41,909 points. KEL (up 2.96 percent) remained volume leader today as well on the back of expectations regarding development in multiyear tariff which will likely lead to Shanghai Electric deal closing in the near future. PTC (up 4.73 percent) performed on market rumors regarding Etisalat team in talks for the $800 million outstanding payment.
Approval of increase in MRPs of drugs under Drug Pricing Policy-2015 played well for Pharma sector where SAPL (up 5 percent), IBLHL (up 4.61 percent), SEARL (up 5 percent) and WYETH (up 5 percent) all closed at or near their respective upper circuits. Fertilizers sector also witnessed investor interest where ENGRO (up 1.19 percent) and FFC (up 1.43 percent) closed higher than their previous day close. In the steel sector MUGHAL (up 3.24 percent) remained in the limelight on the back of material information released by the company where they mentioned extension of grid station load from 19.99 MW to 59.99 MW, which is expected to be fully operational by the 3rd quarter of 2018. E&P sector continued its upward trend as crude oil prices continued to edge higher in the international market. POL (up 0.25 percent) and OGDC (up 1.15 percent) were the major gainers of the mentioned sector.
