BRIndex100 ends flat

RECORDER REPORT

KARACHI: Pakistan Stock Exchange Monday witnessed a positive trend and closed in green on the back of local investors’ and institutional support. BRIndex100 gained 3.03 points or 0.06 percent to close at 5,286.40 points. BRIndex100 hit intraday high of 5,331.19 points and intraday low of 5,277.70 points. Volumes stood at 813.491 million shares.

BRIndex30 inched up by 69.51 points or 0.25 percent to close at 27,698.50 points with a turnover of 533.307 million shares.

The KSE-100 Index increased by 90.96 points or 0.19 percent to close at 48,302.66 points. Trading activity also improved as daily volumes on ready counter increased to 936.088 million shares as compared to 867.303 million shares traded last Friday.

Foreign investors however remained net sellers of shares worth $1.191 million. The market capitalization increased by Rs 35 billion to Rs 8.392 trillion. Out of total 428 active scrips, 225 closed in positive and 181 in negative while the value of 22 stocks remained unchanged.

Hum Network was the volume leader with 118.202 million shares and gained Rs 0.74 to close at Rs 8.68 followed by WorldCall Telecom that closed at Rs 3.50, down Rs 0.01 with 80.744 million shares. Unilever Foods and Rafhan Maize were the top gainers increasing by Rs 899.00 and Rs 275.00 respectively to close at Rs 17199.00 and Rs 9725.00 while Wyeth Pak and Mehmood Textile were the top losers declining by Rs 197.38 and Rs 12.04 respectively to close at Rs 2434.39 and Rs 450.00.

BR Automobile Assembler Index gained 46.2 points or 0.47 percent to close at 9,822.34 points with total turnover of 10.369 million shares.

BR Cement Index inched up by 49.54 points or 0.64 percent to close at 7,742.47 points with 70.769 million shares.

BR Commercial Banks Index lost 23.75 points or 0.25 percent to close at 9,383.05 points with 26.743 million shares.

BR Power Generation and Distribution Index added 44.11 points or 0.77 percent to close at 5,785.88 points with 58.215 million shares.

BR Oil and Gas Index fell by 5.25 points or 0.13 percent to close at 4,180.13 points with 53.730 million shares.

BR Tech. & Comm. Index closed at 4,423.06 points, up 18.97 points or 0.43 percent with 345.402 million shares.

An analyst at Arif Habib Limited said that the market saw heavy selling pressure against all the positive news flow that came to fruition over the weekend, from possible reduction in CGT to duty reduction for auto manufacturers and release of circular debt related payments to IPPs.

Reportedly, ISL increased steel prices which helped the stock price gain during the session however profit booking brought the price below LDCP by the closing.

E&P, Refinery, O&GMCs, Technology stocks bore selling pressure. Kapco, which was the main beneficiary of release of circular debt related funds from the Government, could not stand firmly and selling pressure brought its price below LDCP briefly.

Sectors contributing to the performance include Glass (up 22 points), Fertilizer (up 19 points), Textile (up 18 points), Power (up 14 points) and Cement (up 12 points).

Stocks that contributed positively to the index include SYS (up 27 points), GHGL (up 22 points), KTML (up 19 points), HUBC (up 12 points) and PTC (up 11 points). Stocks that contributed negatively include TRG (down 25 points), PSO (down 12 points), PPL (down 10 points), NML (down 9 points) and HBL (down 9 points).