KARACHI: Investors’ interest over improving political situation in the country invited across-the-board, aggressive buying and hence Pakistan Stock Exchange closed on a strong positive note with healthy gains Wednesday.
BRIndex100 gained 80.9 points or 1.68 percent to close at 4,892.71 points. BRIndex100 hit intraday high of 4,907.88 and intraday low of 4,851.22 points. Volumes stood at 483.002 million shares.
BRIndex30 increased by 596.67 points or 2.42 percent to close at 25,252.56 points with a turnover of 317.832 million shares.
The KSE-100 Index surged by 593.25 points or 1.32 percent to cross 45,000 psychological level to close at 45,450.31 points. Trading activity also improved as daily volumes on ready counter increased to 510.384 million shares as compared to 408.459 million shares traded Tuesday.
Foreign investors however remained net sellers of shares worth $835,056. The market capitalization increased by Rs 109 billion to Rs 8.070 trillion. Out of total 415 active scrips, 320 closed in positive and only 76 in negative while the value of 19 stocks remained unchanged.
TRG Pak was the volume leader with 34.428 million shares and surged by Rs 9.25 to close at Rs 147.90 followed by Byco Pakistan that increased by Rs 1.00 to close at Rs 10.10 with 32.419 million shares. Sunrays Textile and Indus Motor Co were the top gainers increasing by Rs 63.74 and Rs 52.09 respectively to close at Rs 936.74 and Rs 1081.05 while Rafhan Maize and Philip Morris Pak were the top losers declining by Rs 149.01 and Rs 75.00 respectively to close at Rs 9749.99 and Rs 1,200.00.
BR Automobile Assembler Index surged by 236.68 points or 2.78 percent to close at 8,737.91 with total turnover of 4.709 million shares.
BR Cement Index gained 85.32 points or 1.19 percent to close at 7,281.05 points with 43.804 million shares.
BR Commercial Banks Index inched up by 162.29 points or 1.87 percent to close at 8,855.55 points with 37.405 million shares.
BR Power Generation and Distribution Index added 2.33 points or 0.04 percent to close at 5,640.10 points with 30.493 million shares.
BR Oil and Gas Index closed at 4,102.61 points, up 43.1 points or 1.06 percent with 23.827 million shares.
BR Tech. & Comm. Index increased by 136.18 points or 3.79 percent to close at 3,733.23 points with 107.073 million shares.
Maaz Mulla at JS Global Capital said that bulls dominated the trading session where the index made an intraday high of plus 683 points to close at 45,450 level, up 593 points on back of the news that the Pakistan Democratic Movement (PDM) has postponed the long march that was scheduled for next week.
TRG (up 6.7 percent), UNITY (up 3.2 percent), BYCO (up 11 percent) and PRL (up 5.2 percent) cumulatively saw more than 117 million shares traded during the day.
Technology and cement sector witnessed investor's interest where TRG (up 6.7 percent), NETSOL (up 1.8 percent), AVN (up 7.5 percent), PIOC (up 1.6 percent), DGKC (up 1.6 percent), KOHC (up 3.2 percent) and POWER (up 1.3 percent) gained to close in the positive region.
Banking sector followed the same trend where major movers FABL (up 4.8 percent), UBL (up 4.0 percent), HBL (up 2.2 percent) and MCB (up 1.4 percent) gained to close higher than their previous day close.
Copyright Business Recorder, 2021
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