RECORDER REPORT
KARACHI: A positive trend continued on Pakistan Stock Exchange on the back of fresh buying in various sectors.
BRIndex100 gained 53.34 points or 1.16 percent to close at 4,669.07 points Wednesday. BRIndex100 touched an intraday high of 4,672.70 and an intraday low of 4,606.55 points. Volumes stood at 134.082 million shares.
BRIndex30 increased by 225.83 points or 0.95 percent to close at 23,896.20 points with a turnover of 79.297 million shares.
The benchmark KSE-100 index surged by 419.29 points to 43,358.97 points. Daily trading volumes however slightly decreased to 151.337 million shares as compared to 160.883 million shares traded on Tuesday.
Foreign investors remained net buyers of shares worth $7.1 million. The market capitalization increased by Rs 74 billion to Rs 8.954 trillion. Out of total 386 active scrips, 256 closed in positive, 110 in negative while the value of 20 stocks remained unchanged.
Pace (Pak) Limited was the volume leader with 10.936 million shares. However, it lost Re 0.22 to close at Rs 5.00 followed by Azgard Nine that gained Re 0.74 to close at Rs 15.00 with 10.354 million shares.
Nestle Pakistan and Bata Pak were the top gainers with Rs 299.98 and Rs 120.00, respectively to close at Rs 10,800.00 and Rs 2,520.00. Wyeth Pak and United Brands were the top losers with Rs 78.55 and Rs 14.80, respectively to close at Rs 1,764.84 and Rs 555.00.
BR Commercial Banks Index gained 75.57 points or 0.86 percent to close at 8,822.54 points with a turnover of 17.655 million shares.
BR Cement Index increased by 75.44 points or 1.35 percent to close at 5,666.35 points with 14.893 million shares.
BR Oil and Gas Index inched up by 40.34 points or 0.77 percent to close at 5,284.86 points with 7.709 million shares.
BR Tech. & Comm. Index closed at 1,140.13 points, up 21.02 points or 1.88 percent with 8.718 million shares.
BR Power Generation and Distribution Index lost 1.08 points or 0.02 percent to close at 6,267.69 points with 8.397 million shares.
An analyst at Arif Habib Limited said that after an initial jitter caused by protest / sit-in, KSE100 index held positive ground rest of the day and with the hope of coalition against government started dissipating, the bulls came raging in and raised the index level. In the coming days, market is expected to continue its positive drive and those who divested last week are expected to come back that can take the market to recent days’ high.
The Index closed at 42,940pts as against 43,359 points, showing an increase of 419 points (up 1.0 percent). Sectors contributing to this increase include Commercial Banks (up 113 points), Cement (up 46 points), Fertilizer (up 41 points) and Oil & Gas sector (up 69 points).
Scrips that contributed positively include HBL (up 43 points), SEARL (up 24 points), PPL (up 21 points), BAHL (up 21 points) and NML (up 18 points). Stocks that contributed negatively include KTML (down 5.0 points), KEL (down 3.0 points), ABOT (down 2.0 points), SNBL (down 1.0 points) and PGF (down 1.0 points).
