RECORDER REPORT

KARACHI: Pakistan Stock Exchange on Thursday witnessed bullish trend on the back of healthy buying by both local and foreign investors.

BRIndex100 gained 44.1 points or 0.95 percent to close at 4,685.29 points. During the session, the BRIndex-100 touched an intraday high of 4,694.51 and an intraday low of 4,636.86 points. Total volumes stood at 175.717 million shares.

BRIndex30 increased by 334.24 points or 1.39 percent to close at 24,382.94 points with total turnover o f 124.379 million shares.

Pakistan’s benchmark KSE-100 index surged by 270.94 points and closed at 43,510.39 points. Trading activities also improved as daily volumes increased to 211.946 million shares as compared to 151.361 million shares traded on Wednesday.

The foreign investors emerged net buyers of shares worth $3.0 million. Total market capitalization increased by Rs 22 billion to Rs 9.045 trillion. Out of total 378 active scrips, 229 closed in positive and 125 in negative while the value of 24 stocks remained unchanged.

Lotte Chemical was the volume leader with 11.418 million shares and gained Rs 0.09 to close at Rs 8.93 followed by D G Khan Cement that surged by Rs 5.80 to close at Rs 149.51 with 10.856 million shares. Wyeth Pak and Sanofi-Aventis were the top gainers increasing by Rs 95.07 and Rs 36.64 respectively to close at Rs 1996.59 and Rs 1540.00 while Bata Pak and Pak Tobacco were the top losers declining by Rs 139.60 and Rs 110.28 respectively to close at Rs 2760.00 and Rs 2100.10.

BR Commercial Banks Index gained 17.71 points or 0.2 percent to close at 8,780.64 points with total turnover of 12.842 million shares.

BR Cement Index increased by 240.09 points or 4.33 percent to close at 5,790.30 points with 39.160 million shares.

BR Oil and Gas Index lost 6.13 points or 0.12 percent to close at 5,164.92 points with 5.443 million shares.

BR Tech & Comm Index closed at 1,213.93 points, down 6.38 points or 0.52 percent with 9.894 million shares.

BR Power Generation and Distribution Index gained 108.26 points or 1.71 percent to close at 6,456.33 points with 7.511 million shares.

Maaz Mulla at JS Global Capital said that Pakistan equities extended its gains in the trading session, with benchmark KSE-100 Index settling at 43,510 levels, up 0.6 percent. The local bourse made an intraday high of plus 395 points against a low of negative 63 points, closing 271 points up.

Major contribution to the index came from LUCK (up 5.0 percent), ENGRO (up 2.46 percent), DGKC (up 4.04 percent) and MLCF (up 5.0 percent) contributing plus 170 points to the index.

A rally was witnessed in the cement sector on back of healthy provisional numbers and on back of the news that there has been an increase of Rs 10 per bag in the price of northern region. As a result, heavyweights such as LUCK (up 5.0 percent), CHCC (up 5.0 percent), KOHC (up 5.0 percent), MLCF (up 5.0 percent), PIOC (up 5.0 percent) and FCCL (up 5.0 percent) closed at their respective upper circuits and cumulatively contributed plus 148 points. Moreover, CPI number for February 2018 clocked in at 3.80 percent, which came below the expectations of 4.00 percent. Banking space closed mixed in the trading session as UBL (up 0.08 percent) closed positive, while on the other hand, MCB (down 0.42 percent) and HBL (down 0.10 percent) closed in the negative zone.

E&P sector closed in the red as crude oil prices edged lower in the international market. POL (down 0.89 percent) and PPL (down 0.62 percent) were the major laggards of the sector.