KARACHI: Despite foreign selling, Pakistan Stock Exchange Monday witnessed a bullish trend on the back of healthy buying, mainly by local investors and institutions.
BRIndex100 gained 35.35 points or 0.73 percent to close at 4.883.22 points. BRIndex100 hit intraday high of 4,893.44 and intraday low of 4,861.46 points. Volumes stood at 418.910 million shares.
BRIndex30 increased by 417.4 points or 1.69 percent to close at 25,119.56 points with a turnover of 322.730 million shares.
The KSE-100 Index surged by 219.60 points or 0.34 percent and once again crossed 46,000 psychological level to close at 46,087.64 points. Trading activity also improved as daily volumes on the ready counter increased to 470.060 million shares as compared to 430.628 million shares traded on previous session.
Foreign investors however remained net sellers of shares worth $5.016 million. Total market capitalization increased by Rs 28 billion to Rs 8.343 trillion. Out of total 414 active scrips, 226 closed in positive and 166 in negative while the value of 22 stocks remained unchanged.
K-Electric was the volume leader with 36.610 million shares and gained Rs 0.02 to close at Rs 4.13 followed by Unity Foods that increased by Rs 1.37 to close at Rs 34.31 with 36.256 million shares. Pak Tobacco and Bhanero Textile were the top gainers increasing by Rs 48.24 and Rs 43.90 respectively to close at Rs 1649.99 and Rs 870.00 while Nestle Pakistan and Mari Petroleum were the top losers declining by Rs 155.00 and Rs 17.89 respectively to close at Rs 6420.00 and Rs 1409.19.
BR Automobile Assembler Index gained 7.18 points or 0.08 percent to close at 8,488.64 points with a total turnover of 11.011 million shares.
BR Cement Index increased by 66.57 points or 1.06 percent to close at 6,346.72 points with 29.999 million shares.
BR Commercial Banks Index lost 17.7 points or 0.19 percent to close at 9,505.08 points with 33.851 million shares.
BR Power Generation and Distribution Index inched up by 57.86 points or 1.0 percent to close at 5,867.40 points with 53.195 million shares.
BR Oil and Gas Index decreased by 15.76 points or 0.38 percent to close at 4,167.54 points with 17.928 million shares.
BR Tech. & Comm. Index surged by 135.0 points or 4.41 percent to close at 3,194.34 points with 76.856 million shares.
An analyst at Arif Habib Limited said that the market opened on a positive note, which is also the first day of the rollover week, and added a total of 321 points during the session. The Index closed up 220 points.
Cement, Engineering (Steel), Power and O&GMCs contributed positively to the Index, in anticipation of better financial results of the outgoing quarter.
Technology stocks also contributed positively to the Index. Scrips that have high weightage in Futures contract subject to rollover traded in the positive zone, especially TRG and Netsol.
Sectors contributing to the performance include Technology (up 96 points), Cement (up 49 points), Pharma (up 45 points), Fertilizer (up 38 points) and Power (up 22 points).
Stocks that contributed positively to the index include TRG (up 85 points), HUBC (up 20 points), ANL (up 17 points), UNITY (up 17 points) and FFC (up 17 points). Stocks that contributed negatively included HBL (down 24 points), DAWH (down 17 points), OGDC (down 15 points), UBL (down 13 points) and MEBL (down 12 points).
Copyright Business Recorder, 2021
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