RECORDER REPORT
KARACHI: Pakistan Stock Exchange Thursday witnessed a positive trend on the back of fresh buying, mainly by local investors.
BRIndex100 gained 26.17 points or 0.55 percent to close at 4,751.99 points. BRIndex100 touched intraday high of 4,775.00 and intraday low of 4,724.23 points. Volumes stood at 204.215 million shares.
BRIndex30 increased by 165.1 points or 0.67 percent to 24,678.19 points with a turnover of 138.681 million shares.
The benchmark KSE-100 index surged by 206.43 points. It closed at 44,255.48 points. Trading activity however remained low as daily volumes decreased to 228.317 million shares as compared to 288.592 million shares traded on Wednesday.
Foreign investors however remained net sellers of shares worth $4.1 million. The market capitalization increased by Rs 2 billion to Rs 9.138 trillion. Out of total 379 active scrips, 214 closed in positive, 150 in negative while the value of 15 stocks remained unchanged.
WorldCall Telecom was the volume leader with 23.821 million shares. It gained Re 0.10 to close at Rs 2.67 followed by Fauji Foods that lost Re 0.78 to close at Rs 20.20 with 13.148 million shares.
Wyeth Pak and Hinopak Motor were the top gainers with Rs 89.40 and Rs 56.94, respectively to close at Rs 1,877.40 and Rs 1,195.83. Philip Morris Pak and Colgate Palmolive were the top losers with Rs 159.00 and Rs 120.00, respectively to close at Rs 3,021.00 and Rs 2,680.00.
BR Commercial Banks Index lost 2.36 points or 0.03 percent to close at 8,838.54 points with total turnover of 14.692 million shares.
BR Cement Index increased by 115.84 points or 1.93 percent to close at 6,130.22 points with 27.084 million shares.
BR Oil and Gas Index gained 38.61 points or 0.74 percent to close at 5,266.99 points with 6.332 million shares.
BR Tech. & Comm. Index lost 6.8 points or 0.56 percent to close at 1,199.20 points with 31.391 million shares.
BR Power Generation and Distribution Index closed at 6,615.63 points, up 67.53 points or 1.03 percent with 9.987 million shares.
An analyst at Arif Habib Limited said that the KSE-100 index turned green, after losing streak of 5 sessions, although, the spike was not significant. Investors were seen bargain hunting in stocks which have growth stories. Steel sector played on declining scrap prices and expectation of upcoming expansions in flat products. With relatively low investment levels at Mutual Funds and expectation of foreign inflow, the market is expected to return to previous near term highs.
Sectors contributing to this increase include Cement (up 87 points), E&P (up 39 points), Fertilizer (up 30 points), Power (up 27 points) and Pharma (up 25 points).
Scripts that contributed positively include HBL (up 67 points), LUCK (up 53 points), DAWH (up 43 points), HUBC (up 28 points) and DGKC (up 22 points). Stocks that contributed negatively include UBL (down 29 points), PAKT (down 24 points), MCB (down 22 points), COLG (down 12 points) and BAHL (down 11 points).
