RECORDER REPORT
KARACHI: Pakistan Stock Exchange Tuesday witnessed recovery and closed on a positive note on the back of select buying in various stocks.
BRIndex100 gained 16.76 points or 0.38 percent to close at 4,387.87 points. BRIndex-100 touched intraday high of 4,402.67 and intraday low of 4,352.82 points. Volumes stood at 123.266 million shares.
BRIndex30 increased by 138.26 points or 0.63 percent to close at 21,989.80 points with a turnover of 83.302 million shares.
The benchmark KSE-100 index inched up by 75.48 points or 0.19 percent to close at 40,759.53 points. Trading activity also improved as daily volumes on the ready counter increased to 139.508 million shares as compared to 112.552 million shares traded Monday.
Foreign investors remained net sellers of shares worth $2.4 million. The market capitalization increased by Rs 19 billion to Rs 8.448 trillion. Out of total 369 active scrips, 219 closed in positive, 134 in negative while the value of 16 stocks remained unchanged.
Bank Al Habib was the volume leader with 11.148 million shares. However, it lost Rs 1.02 to close at Rs 79.90 followed by Unity Foods that gained Rs 1.78 to close at Rs 41.01 with 11.104 million shares.
Island Textile and Siemens Pak were the top gainers with Rs 63.75 and Rs 18.87, respectively to close at Rs 1,338.75 and Rs 927.75. Bata Pak and Jubilee Life Ins were the top losers with Rs 19.99 and Rs 19.50, respectively to close at Rs 1,800.01 and Rs 630.50.
BR Commercial Banks Index decreased by 44.08 points or 0.51 percent to close at 8,515.78 points with 23.492 million shares.
BR Cement Index gained 10.99 points or 0.25 percent to close at 4,494.09 points with 13.721 million shares.
BR Oil and Gas Index inched up by 26.44 points or 0.51 percent to close at 5,183.59 points with 2.773 million shares.
BR Tech. & Comm. Index closed at 1,209.88 points, up 17.43 points or 1.46 percent with 10.652 million shares.
BR Power Generation and Distribution Index increased by 85.03 points or 1.49 percent to close at 5,791.78 points with 6.023 million shares.
An analyst at Arif Habib Limited after several negative closings at KSE-100, the benchmark index finally settled green, though the gain is nominal. The market opened on a positive note but soon saw selling pressure, and after some resistance again advanced by 259 points.
Buying interest was largely seen in Steel, E&P, Textile, Food and OMC sectors. Mid and small caps like UNITY, DOL, FFL gained on the index, whereas BAHL which registered largest volume on the bourse today saw a decline in price. Blue chip banks, HBL, UBL and MCB saw decline in price, which kept the index under severe pressure.
Stocks that contributed positively include HUBC (up 35 points), NML (up 22 points), PPL (up 22 points), OGDC (up 21 points) and PSO (up 14 points). Whereas, scripts that contributed negatively include BAHL (down 22 points), HBL (down 17 points), MCB (down 15 points), FFC (down 10 points) and MTL (down 9 points).
