RECORDER REPORT
KARACHI: Pakistan Stock Exchange Friday witnessed a positive trend following fresh buying in various sectors.
BRIndex100 gained 67.74 points or 1.5 percent to close at 4,586.51 points. BRIndex100 touched intraday high of 4,602.19 and intraday low of 4,518.57 points. Volumes stood at 176.476 million shares.
BRIndex30 increased by 485.08 points or 2.14 percent to close at 23,140.34 points with a turnover of 120.077 million shares.
The benchmark KSE-100 index surged by 485.82 points or 1.16 percent to close at 42,446.62 points. Daily trading volumes on the ready counter increased to 194.194 million shares as compared to 142.178 million shares traded Thursday.
The market capitalization increased by Rs 84 billion to Rs 8.703 trillion. Out of total 376 active scrips, 266 closed in positive, only 91 in negative while the value of 19 stocks remained unchanged.
Bank of Punjab was the volume leader with 39.047 million shares. It gained Re 0.68 to close at Rs 11.94 followed by WorldCall Telecom that inched up by Re 0.09 to close at Rs 2.00 with 8.380 million shares. Service Ind. Ltd and Wyeth Pak were the top gainers with Rs 37.24 and Rs 19.00, respectively to close at Rs 782.23 and Rs 1,349.00. Indus Dyeing and Blessed Textile were the top losers with Rs 25.26 and Rs 19.00, respectively to close at Rs 480.14 and Rs 361.00.
BR Commercial Banks Index increased by 101.92 points or 1.19 percent to close at 8,674.20 points with total turnover of 47.110 million shares.
BR Cement Index surged by 147.15 points or 3.02 percent to close at 5,013.88 points with 21.145 million shares.
BR Oil and Gas Index gained 34.53 points or 0.65 percent to close at 5,357.91 points with 6.516 million shares.
BR Tech. & Comm. Index inched up by 21.86 points or 1.73 percent to close at 1,282.73 points with 15.797 million shares.
BR Power Generation and Distribution Index closed at 6,001.78 points, up 80.86 points or 1.37 percent with 5.912 million shares.
Danish Ladhani at JS Global Capital said that the PSX recovered as the index made an intraday high of plus 592 points to finally close down to 42,447 levels. Cements pushed the market skyward after the news came in that Chinese company have agreed to extend support in Diamer-Bhasha Dam’s construction. Moreover rating agency Fitch has shown concerns that the new incoming government of PTI may face tough economic tasks due to deterioration in external finances and fiscal challenges.
DGKC (up 5 percent) closed at its upper limit whereas BWCL (up 4.09 percent) and FCCL (up 4.91 percent) closed near their respective upper limits in the Cements. In the Financials, mixed sentiments were seen where HBL (down 0.14 percent) closed in the red, however MCB (up 0.89 percent) and UBL (up 2.36 percent) closed positive. BOP (up 6.04 percent) announced first half of 2018 consolidated EPS of Rs 1.46.
Major heavyweights namely, PPL (up 0.55 percent), OGDC (up 0.61 percent), ENGRO (up 1.09 percent), MCB (up 0.89 percent), UBL (up 2.36 percent), LUCK (up 2.17 percent) and FFC (up 0.24 percent) cumulatively contributed plus 137 points.
