RECORDER REPORT

KARACHI: Pakistan Stock Exchange Friday maintained its upward trend on the back of buying in various sectors.

BRIndex100 gained 5.74 points or 0.11 percent to close at 5,071.51 points. BRIndex100 touched intraday high of 5,132.60 and intraday low of 5,059.37 points. Volumes stood at 216.688 million shares.

BRIndex30 inched up by 7.7 points or 0.03 percent to 25,913.25 points with a turnover of 133.157 million shares.

The benchmark KSE-100 index increased by 76.80 points to 46,637.62 points. Trading activity also improved as daily volumes increased to 248.146 million shares as compared to 233.353 million shares traded Thursday.

Foreign investors remained net buyers of shares worth $2.1 million. The market capitalization increased by Rs 37 billion to Rs 9.531 trillion. Out of total 370 active scrips, 180 closed in positive, 164 in negative while the value of 26 stocks remained unchanged. Engro Polymer was the volume leader with 16.299 million shares. It gained Re 0.76 to close at Rs 37.70 followed by Sui Northern Gas that surged by Rs 3.35 to close at Rs 117.66 with 12.941 million shares. Colgate Palmolive and Philip Morris Pak were the top gainers with Rs 155.00 and Rs 142.50, respectively to close at Rs 3,255.00 and Rs 2,992.50. Abbott Lab and Siemens Pak were the top losers with Rs 12.10 and Rs 12.00, respectively to close at Rs 711.90 and Rs 898.00.

BR Commercial Banks Index gained 17.4 points or 0.18 percent to close at 9,594.30 points with total turnover of 25.907 million shares.

BR Cement Index inched up 10.66 points or 0.17 percent to close at 6,407.35 points with 32.069 million shares.

BR Oil and Gas Index increased by 27.17 points or 0.49 percent to close at 5,551.42 points with 21.773 million shares.

BR Tech. & Comm. Index closed at 1,230.53 points, up 7.48 points or 0.61 percent with 13.825 million shares.

BR Power Generation and Distribution Index gained 8.53 points or 0.12 percent to close at 6,854.02 points with 11.531 million shares.

Maaz Mulla at JS Global Capital said that Pakistan equities continued to maintain its positive thrust with benchmark KSE-100 Index advancing to close at 46,638 levels. Market started off on a positive note, making an intraday high of plus 583 points, where market strengthened as the PM declared Tax Amnesty Scheme on the eve of elections. However, profit taking was witnessed during the second half of the trading session. It was anticipated that the government estimates an inflow of $3-4 billion from the scheme. Potential US dollar inflow from this scheme is expected to ease pressure on the forex reserves. Also, news of International Islamic Trade Finance Corp (IITFC) agreeing to lend $3.285 billion to finance trade activities for a period of three years is also expected to support the country’s foreign exchange reserves ahead.