KARACHI: Pakistan Stock Exchange Wednesday witnessed a bullish trend on the back of healthy buying by both local and foreign investors. BRIndex100 gained 55.45 points or 1.17 percent to close at 4,782.29 points. BRIndex100 hit intraday high of 4,785.14 and intraday low of 4,726.83 points. Volumes stood at 631.491 million shares.
BRIndex30 increased by 215.05 points or 0.9 percent to close at 24,228.61 points with a turnover of 495.035 million shares.
The KSE-100 Index surged by 502.99 points or 1.13 percent and crossed 45,000 psychological level to close at almost three-year highest level of 45,153.42 points. Trading activity also further improved as daily volumes on ready counter increased to 664.538 million shares as compared to 582.367 million shares traded on Tuesday.
Foreign investors emerged net buyers of shares worth $1.372 million. Total market capitalization increased by Rs 95 billion to Rs 8.243 trillion. Out of total 417 active scrips, 232 closed in positive and 168 in negative while the value of 17 stocks remained unchanged. Byco Petroleum was the volume leader with 97.627 million shares and gained Rs 1.00 to close at Rs 9.79 followed by Pak Refinery that increased by Rs 1.12 to close at Rs 25.52 with 87.254 million shares. Pak Tobacco and Rafhan Maize were the top gainers increasing by Rs 99.98 and Rs 51.00 respectively to close at Rs 1699.98 and Rs 9850.00 while Tandlianwala Sugar and Shezan International were the top losers declining by Rs 13.52 and Rs 12.00 respectively to close at Rs 166.86 and Rs 336.00.
BR Automobile Assembler Index increased by 106.87 points or 1.24 percent to close at 8,693.97 points with total turnover of 4.982 million shares. BR Cement Index gained 87.86 points or 1.41 percent to close at 6,308.87 points with 47.063 million shares. BR Commercial Banks Index inched up by 103.91 points or 1.14 percent to close at 9,192.90 points with 32.208 million shares.
BR Power Generation and Distribution Index lost 19.02 points or 0.34 percent to close at 5,597.41 points with 64.813 million shares.
BR Oil and Gas Index surged by 76.05 points or 1.79 percent to close at 4,327.14 points with 53.412 million shares.
BR Tech. & Comm. Index closed at 2,668.49 points, up 31.16 points or 1.18 percent with 66.913 million shares.
An analyst at Arif Habib Limited said that buying activity was observed across the board with E&P and O&GMCs rebounding strongly and supported by Cement and Fertilizer sectors, which showed good progress on Tuesday as well.
International crude oil prices jumped significantly on the conclusion of agreement among OPEC+ countries that became the reason for performance of E&P stocks.
Cement sector leaped on the expectation of an increase in cement price/bag in North region. Banking sector also contributed on the anticipation of annual results.
Sectors contributing to the performance include Banks (up 118 points), E&P (up 101 points), Cement (up 62 points), Inv Banks (up 59 points) and O&GMCs (up 30 points). Stocks that contributed positively to the index include MEBL (up 63 points), DAWH (up 54 points), POL (up 48 points), LUCK (up 37 points) and PAKT (up 29 points). Stocks that contributed negatively include HUBC (down 23 points), HGFA (down 4 points), SCBPL (down 3 points), AICL (down 3 points) and SRVI (down 2 points).
Copyright Business Recorder, 2021
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