RECORDER REPORT
KARACHI: Pakistan Stock Exchange Tuesday witnessed a bullish trend due to healthy buying in various sectors.
BRIndex100 gained 54.68 points or 1.18 percent to close at 4,688.69 points. BRIndex100 touched intraday high of 4,694.29 and intraday low of 4,625.84 points. Volumes stood at 148.316 million shares.
BRIndex30 increased by 352.8 points or 1.53 percent to close at 23,430.11 points with a turnover of 114.040 million shares.
The benchmark KSE-100 index surged by 434.29 points to close at 43,702.58 points. Trading activity further improved as daily volumes on the ready counter increased to 166.489 million shares as compared to 118.042 million shares traded Monday.
Foreign investors remained net sellers of shares worth $8.7 million. The market capitalization increased by Rs 60 billion to Rs 9.024 trillion. Out of total 342 active scrips, 194 closed in positive, 123 in negative while the value of 25 stocks remained unchanged.
Bank of Punjab was the volume leader with 20.314 million shares. It gained Re 0.22 to close at Rs 12.29 followed by Pak Elektron that inched up by Re 0.61 to close at Rs 38.96 with 14.254 million shares.
Rafhan Maize and Colgate Palmolive were the top gainers with Rs 409.89 and Rs 162.01, respectively to close at Rs 8,607.89 and Rs 3,469.00. Philip Morris Pak and Sapphire Textile were the top losers with Rs 148.55 and Rs 66.48, respectively to close at Rs 2,825.55 and Rs 1,263.25.
BR Commercial Banks Index surged by 147.23 points or 1.69 percent to close at 8,878.56 points with total turnover of 36.362 million shares.
BR Cement Index increased by 68.98 points or 1.35 percent to close at 5,189.17 points with 28.664 million shares.
BR Oil and Gas Index gained 69.04 points or 1.26 percent to close at 5,529.57 points with 26.317 million shares.
BR Tech. & Comm. Index closed at 1,158.90 points, up 8.24 points or 0.72 percent with 5.736 million shares.
BR Power Generation and Distribution Index lost 1.64 points or 0.03 percent to close at 6,240.75 points with 5.719 million shares.
An analyst at Arif Habib Limited said amidst uncertainty of foreign selling, FATF action plan, new incumbents in the caretaker setup, the market is trudging well towards 44,000 the index had a consecutive spike of 500 points, led by investment in Banks and Cement stocks.
Key activity was observed in DGKC and FCCL amongst other cement players. E&P, especially PPL, also contributed to the upsurge in Index. Autos and Fertilizers were generally laggards today and volume wise activity was seen in EFERT which closed red.
Sectors contributing to this increase include Banks (up 220 points), O&GMCs (up 65 points), Cement (up 43 points), E&P (up 39 points) and Fertilizer (up 27 points).
Scripts that contributed positively include HBL (up 104 points), MCB (up 33 points), SNGP (up 30 points), ENGRO (up 28 points) and UBL (up 21 points). Stocks that contributed negatively include THALL (down 10 points), PMPK (down 9 points), FFC (down 6 points), KAPCO (down 5 points) and KTML (down 4 points).
