KARACHI: Despite foreign selling, Pakistan Stock Exchange on Thursday closed on strong positive note on the back of healthy buying by local investors and institutions.
BRIndex100 gained 14.65 points or 0.34 percent to close at 4,275.13 points. During the session, the BRIndex-100 hit an intraday high of 4,307.04 and an intraday low of 4,260.39 points. Total volumes stood at 456.832 million shares.
BRIndex30 increased by 129.17 points or 0.59 percent to close at 22,169.58 points with total daily turnover of 280.606 million shares.
KSE-100 index surged by 219.35 points or 0.54 percent and crossed the 41,000 psychological level to close at 41,081.94 points. Trading activities also improved as daily volumes on ready counter increased to 544.662 million shares as compared to 507.996 million shares traded on Wednesday.
The foreign investors however remained on the selling side and withdrew $2.232 million from the Pakistan capital market. Total market capitalization increased by Rs 56 billion to Rs 7.602 trillion. Out of total 403 active scrips, 234 closed in positive and 153 in negative while the value of 16 stocks remained unchanged.
Bank of Punjab was the volume leader with 39.729 million shares however lost Rs 0.40 to close at Rs 9.87 followed by TRG Pak that increased by Rs 3.52 to close at Rs 60.04 with 36.931 million shares.
Unilever Foods and Colgate Palmolive were the top gainers increasing by Rs 301.00 and Rs 207.57 respectively to close at Rs 10500.00 and Rs 2975.25 while Bata Pak and Premium Textile were the top losers declining by Rs 17.89 and Rs 13.00 respectively to close at Rs 1579.31 and Rs 245.00.
BR Automobile Assembler Index gained 19.23 points or 0.24 percent to close at 8,055.89 points with total turnover of 3.764 million shares.
BR Cement Index inched up by 46.28 points or 0.83 percent to close at 5,630.52 points with 59.045 million shares.
BR Commercial Banks Index closed at 8,389.11 points, up 23.72 points or 0.28 percent with 78.298 million shares.
BR Power Generation and Distribution Index increased by 69.85 points or 1.37 percent to close at 5,169.04 points with 46.352 million shares.
BR Oil and Gas Index lost 16.64 points or 0.4 percent to close at 4,182.31 points with 30.849 million shares.
BR Tech. & Comm. Index surged by 59.54 points or 3.46 percent to close at 1,782.23 points with 59.986 million shares.
An analyst at Arif Habib Limited said that the market added another 414 points during the session and closed the session plus 219 points.
Cement and Banking sector stocks played important role. BOP’s financial results brought the stock price down. Refinery sector faced selling pressure that brought ATRL and NRL down after posting respective financial results on Wednesday.
E&P companies also saw selling pressure however trading volume remained the same relative to past sessions. Banking sector led the volumes table with 78.2 million shares followed by Cement (74.6 million shares) and Technology (59.8 million shares).
Sectors contributing to the performance include Technology (up 50 points), Cement (up 35 points), Power (up 34 points), Textile (up 31 points) and Chemical (up 25 points).
Stocks that contributed positively to the index include TRG (up 37 points), HUBC (up 30 points), COLG (up 27 points), HBL (up 17 points) and THALL (up 13 points). Stocks that contributed negatively include MCB (down 14 points), POL (down 12 points), BOP (down 10 points), BAFL (down 7 points) and SNGP (down 6 points).
Copyright Business Recorder, 2020
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