BRIndex100 continues upward move
KARACHI: Pakistan Stock Exchange on Tuesday witnessed mixed trend and after moving both sides finally closed on positive note due to buying in some stocks in late hours.
BRIndex100 gained 11.2 points or 0.29 percent to close at 3,900.20 points. During the session, the BRIndex-100 hit an intraday high of 3,928.72 and an intraday low of 3,862.86 points. Total volumes stood at 415.254 million shares.
BRIndex30 increased by 161.2 points or 0.81 percent to close at 20,136.09 points with total daily turnover of 277.927 million shares.
KSE-100 index inched up by 49.74 points or 0.13 percent and closed at 37,700.31 points. Trading activities however reduced as daily volumes on ready counter decreased to 457.216 million shares as compared to 553.817 million shares traded on Monday.
The foreign investors remained net sellers of shares worth $1.204 million. Total market capitalization declined by Rs 11 billion to stand at Rs 7.106 trillion. Out of total 405 active scrips, 233 closed in negative and 149 in positive while the value of 23 stocks remained unchanged.
TRG Pak was the volume leader with 28.642 million shares and gained Re 0.05 to close at Rs 39.30 followed by Hascol Petroleum that lost Re 0.27 to close at Rs 13.73 with 25.928 million shares. Bhanero Textile and Nestle Pakistan were the top gainers increasing by Rs 62.62 and Rs 50.00 respectively to close at Rs 897.62 and Rs 6800.00 while Rafhan Maize and Indus Motor Co were the top losers declining by Rs 100.00 and Rs 67.63 respectively to close at Rs 7600.00 and Rs 1301.62.
BR Automobile Assembler Index declined by 106.39 points or 1.53 percent to close at 6,842.78 points with total turnover of 10.338 million shares.
BR Cement Index decreased by 34.53 points or 0.69 percent to close at 4,961.07 points with 58.228 million shares.
BR Commercial Banks Index lost 6.3 points or 0.09 percent to close at 7,354.13 points with 17.732 million shares.
BR Power Generation and Distribution Index surged by 220.77 points or 4.82 percent to close at 4,803.26 points with 43.362 million shares.
BR Oil and Gas Index gained 11.39 points or 0.29 percent to close at 3,954.44 points with 57.930 million shares.
BR Tech & Comm Index inched up by 12.05 points or 0.82 percent to close at 1,480.08 points with 71.740 million shares.
An analyst at Arif Habib Limited said that the market traded in a range between negative 282 points and positive 288 points and closing the session up 50 points.
Amidst expectations of an impending correction, Index is circumnavigating current levels with a tilt towards index heavy weights such as HUBC and helped manage the slide, which would otherwise have dented investor sentiment.
The KSE-100 index opened on a positive note with plus 98 points and went further upto plus 183 points, on the back of buying activity in Cement, E&P sectors, however, selling pressure in Banks, Cement,
Fertilizer and Steel brought the index down later.
The Index rebounded again with buying interest in HUBC that took the stock price to upper circuit. Besides, increase in international crude oil prices helped PSO, PPL and POL to post price gains.
Among Fertilizer sector stocks, ENGRO performed well and posted decent gains. Technology sector topped the volumes with 71.7 million shares, followed by Cement (58.2 million shares) and Power (43.3 million shares).
Sectors contributing to the performance include Power (up 114 points), Fertilizer (up 36 points), O&GMCs (up 20 points), Insurance (up 13 points) and Paper (up 12 points), Inv Banks (down 27 points) and Autos (down 27 points).
Stocks that contributed positively to the index include HUBC (up 102 points), ENGRO (up 37 points), HBL (up 24 points), KAPCO (up 17 points) and PSO (up 15 points). Stocks that contributed negatively include DAWH (down 24 points), INDU (down 20 points), DGKC (down 15 points), UBL (down 14 points) and CHCC (down 14 points).