BRIndex100 extends gains
KARACHI: Pakistan Stock Exchange Wednesday witnessed a bullish trend on the back of healthy buying, mainly by local investors and institutions. BRIndex100 gained 84.37 points or 2.09 percent to close at 4,123.54 points. BRIndex100 hit intraday high of 4,134.23 and intraday low of 4,045.70 points. Volumes stood at 398.586 million shares.
BRIndex30 increased by 479.79 points or 2.36 percent to close at 20,776.06 points with a turnover of 284.304 million shares.
The KSE-100 Index surged by 722.48 points or 1.85 percent and closed at 39,849.96 points. Trading activities also improved as daily volumes on ready counter increased to 431.962 million shares as compared to 406.036 million shares traded on Tuesday.
Foreign investors however remained net sellers of shares worth $971.775. Total market capitalization increased by Rs 121 billion to Rs 7.469 trillion. Out of total 425 active scrips, 341 closed in positive and only 70 in negative while the value of 14 stocks remained unchanged.
Hascol Petroleum was the volume leader with 59.705 million shares and gained Rs 0.97 to close at Rs 16.82 followed by Unity Foods that increased by Rs 1.10 to close at Rs 15.86 with 34.565 million shares. Island Textile and Pak Tobacco were the top gainers increasing by Rs 64.33 and Rs 64.00 respectively to close at Rs 989.33 and Rs 1689.00 while Unilever Foods and Rafhan Maize were the top losers declining by Rs 184.33 and Rs 150.00 respectively to close at Rs 14788.33 and Rs 8150.00.
BR Automobile Assembler Index surged by 216.16 points or 3.03 percent to close at 7,356.80 points with total turnover of 5.671 million shares.
BR Cement Index increased by 201.24 points or 3.65 percent to close at 5,713.88 points with 56.840 million shares.
BR Commercial Banks Index gained 55.5 points or 0.68 percent to close at 8,161.69 points with 30.508 million shares.
BR Power Generation and Distribution Index inched up by 87.06 points or 1.89 percent to close at 4,687.32 points 16.596 million shares.
BR Oil and Gas Index closed at 3,816.27 points, up 40.62 points or 1.08 percent with 67.538 million shares.
BR Tech. & Comm. Index surged by 97.22 points or 6.08 percent to close at 1,696.91 points with 40.545 million shares. Danish Ladhani at JS Global Capital said that the KSE-100 Index closed in positive trajectory after making a high of 792 points to close at 39,850 levels, up 722 points.
Market remained positive throughout the trading session as valued buying was witnessed by financial institutions. Major scrip HBL (up 1.1 percent), ENGRO (up 1.5 percent), LUCK (up 2.5 percent), HUBC (up 1.4 percent), MCB (up 1.7 percent), OGDC (up 0.2 percent), UBL (up 1.4 percent), PPL (up 0.2 percent) and POL (up 0.03 percent) contributed to the positive close.
PIOC (up 4.3 percent), in the cements, in its material information informed that their newly installed waste heat recovery plant has started operating. Moreover in the latest development the Finance Division, Government of Pakistan has directed all the federal ministries, divisions, attached departments and subordinate offices to close their banks accounts with the commercial banks/financial institutions and transfer the balance funds to the Federal Government's Central Account No. I (non-food) with SBP (as per the notification).
NBP (down 3.5 percent), JSBL (down 0.4 percent), BOP (down 1.0 percent) and ABL (down 0.1 percent) closed in the negative trajectory.