BRIndex100 shows upward trend
KARACHI: Pakistan Stock Exchange witnessed bullish trend on Monday on the back of local investors and institutional support.
BRIndex100 gained 42.4 points or 1.1 percent to close at 3,889.00 points. During the session, the BRIndex-100 hit an intraday high of 3,903.14 and an intraday low of 3,847.60 points. Total volumes stood at 498.447 million shares.
BRIndex30 increased by 307.29 points or 1.56 percent to close at 19,974.89 points with total daily turnover of 322.956 million shares.
KSE-100 index surged by 319.72 points or 0.86 percent and closed at 37,650.57 points. Trading activities also improved as daily volumes on ready counter increased to 553.817 million shares as compared to 466.058 million shares traded on previous session.
Total market capitalization increased by Rs 38 billion to Rs 7.117 trillion. Out of total 414 active scrips, 269 closed in positive and 123 in negative while the value of 22 stocks remained unchanged.
Hascol Petroleum was the volume leader with 32.523 million shares however lost Re 0.08 to close at Rs 14.00 followed by TRG Pak that increased by Rs 1.83 to close at Rs 39.25 with 27.552 million shares. Rafhan Maize and Island Textile were the top gainers increasing by Rs 200.00 and Rs 43.07 respectively to close at Rs 7700.00 and Rs 1249.99 while Nestle Pakistan and Philip Morris Pak were the top losers declining by Rs 150.00 and Rs 79.85 respectively to close at Rs 6750.00 and Rs 1800.10.
BR Automobile Assembler Index increased by 83.76 points or 1.22 percent to close at 6,949.17 points with total turnover of 10.253 million shares.
BR Cement Index gained 74.64 points or 1.52 percent to close at 4,995.60 points with 83.243 million shares.
BR Commercial Banks Index inched up by 20.05 points or 0.27 percent to close at 7,360.43 points with 28.795 million shares.
BR Power Generation and Distribution Index surged by 137.41 points or 3.09 percent to close at 4,582.49 points with 42.210 million shares.
BR Oil and Gas Index added 24.71 points or 0.63 percent to close at 3,943.05 points with 55.385 million shares.
BR Tech & Comm Index closed at 1,468.03 points, up 44.9 points or 3.16 percent with 68.254 million shares.
Maaz Mulla at JS Global Capital said that bears were defeated in the trading session as the market remained in green trajectory. The KSE-100 index opened positive and touched a high of plus 410 points as institutional participation was witnessed in the main board stocks. The market remained green throughout the day and closed at 37,650, up 320 points level.
Refinery sector continued its upward trend from last week where NRL (up 7.5 percent), ATRL (up 7.3 percent) and PRL (up 7.4 percent) were the major movers. Steel sector also picked a similar trend where INIL (up 7.5 percent), ISL (up 6.8 percent), MUGHAL (up 4.6 percent) and ASTL (up 0.8 percent) closed in the green region. The investors’ interest was witnessed in the power sector where KAPCO (up 7.2 percent), LPL (up 6.6 percent), HUBC (up 3.4 percent) and NCPL (up 2.8 percent) closed higher than their previous day close.