RECORDER REPORT
KARACHI: Pakistan Stock Exchange witnessed bullish trend on the back of healthy buying by both local and foreign investors.
BRIndex100 gained 64.86 points or 1.3 percent to close at 5,065.77 points on Thursday. During the session, the BRIndex-100 touched an intraday high of 5,074.57 and an intraday low of 4,998.27 points. Total volumes stood at 201.851 million shares.
BRIndex30 increased by 316.97 points or 1.24 percent to close at 25,905.55 points with total turnover of 141.522 million shares.
Pakistan’s benchmark KSE-100 index surged by 457.21 points and closed at 46,560.82 points. Daily trading volumes however decreased to 233.353 million shares as compared to 270.177 million shares traded on Wednesday.
The foreign investors remained net buyers of shares worth $1.2 million. Total market capitalization increased by Rs 44 billion to Rs 9.494 trillion. Out of total 373 active scrips, 185 closed in positive and 164 in negative while the value of 24 stocks remained unchanged.
Byco Petroleum was the volume leader with 16.627 million shares however lost Re 0.22 to close at Rs 15.10 followed by Engro Polymer that gained Re 0.32 to close at Rs 36.94 with 15.433 million shares. Unilever Foods and Indus Dying were the top gainers increasing by Rs 100.00 and Rs 27.03 respectively to close at Rs 9900.00 and Rs 567.92 while Philip Morris Pak and Colgate Palmolive were the top losers declining by Rs 50.00 and Rs 39.00 respectively to close at Rs 2850.00 and Rs 3100.00.
BR Commercial Banks Index increased by 213.57 or 2.28 percent to close at 9,576.90 points with total turnover of 29.236 million shares.
BR Cement Index gained 37.34 points or 0.59 percent to close at 6,396.69 points with 27.332 million shares.
BR Oil and Gas Index inched up by 45.98 points or 0.84 percent to close at 5,524.25 points with 8.107 million shares.
BR Tech. & Comm. Index closed at 1,223.05 points, up 6.43 points or 0.53 percent with 12.202 million shares.
BR Power Generation and Distribution Index surged by 58.49 points or 0.86 percent to close at 6,845.49 points with 9.425 million shares.
An analyst at Arif Habib Limited said that finally the launch of Amnesty Scheme motivated the investors to take active positions. Market went as high as 553 points but settled above 46,5000 level, which is a positive sign for the investors. Steel Sector saw selling pressure due to the news of removal of duty from steel products. DGKC recovered back from panic selling a day earlier and institutional interest was seen. As compared to general pessimism on banking sector due to No Change in policy rate in the past few days, Thursday the Banking sector performed well. Cement and E&P sector also contributed to the positivity.
Scripts that contributed positively include HBL (up 144 points), UBL (up 48 points), POL (up 46 points), BAHL (up 30 points) and HUBC (up 28 points). Stocks that contributed negatively include FFC (down 14 points), ISL (down 10 points), THALL (down 7 points), INIL (down 7 points) and SHFA (down 6 points).
