KARACHI: Pakistan Stock Exchange Tuesday turned bullish on the back of healthy buying at attractively low levels in almost all sectors.
BRIndex100 gained 85.64 points or 1.84 percent to close at 4,739.01 points. BRIndex100 hit intraday high of 4,745.02 points and intraday low of 4,651.29 points. Volumes stood at 331.127 million shares.
BRIndex30 increased by 1,056.89 points or 4.84 percent to close at 22,914.78 points with 212.865 million shares.
The KSE-100 Index surged by 457.17 points or 1.02 percent and crossed 45,000 psychological level at 45,274.93 points. Trading activity also improved as daily volumes increased to 364.860 million shares as compared to 301.392 million shares traded Monday.
Foreign investors however remained on the selling side with an outflow of $6.249 million from local capital market. Total market capitalization increased by Rs 56 billion to Rs 7.828 trillion. Out of total 556 active scrips, 408 closed in positive and 127 in negative while the value of 21 stocks remained unchanged.
Telecard Limited was the volume leader with 35.843 million shares and increased by Rs 1.21 to close at Rs 17.38 followed by Byco Petroleum that gained Rs 0.83 to close at Rs 7.84 with 33.641 million shares. Indus Motor Co and Abbott Lab were the top gainers increasing by Rs 26.86 and Rs 26.16 respectively to close at Rs 1162.86 and Rs 781.83 while Unilever Foods and Colgate Palmolive were the top losers declining by Rs 1165.00 and Rs 140.00 respectively to close at Rs 19000.00 and Rs 2340.00.
BR Automobile Assembler Index increased by 71.38 points or 0.82 percent to close at 8,766.81 points with total turnover of 3.087 million shares.
BR Cement Index inched up by 22.03 points or 0.37 percent to close at 5,906.17 points with 14.207 million shares.
BR Commercial Banks Index added 19.13 points or 0.2 percent to close at 9,358.76 points with 22.248 million shares.
BR Power Generation and Distribution Index added 39.61 points or 0.73 percent to close at 5,500.20 points with 10.095 million shares.
BR Oil and Gas Index closed at 3,715.75 points, up 22.58 points or 0.61 percent with 17.149 million shares.
BR Tech. & Comm. Index surged by 226.44 points or 4.82 percent to close at 4,925.95 points with 101.288 million shares.
An analyst at Arif Habib Limited said that initially the market traded in narrow range, oscillating between negative 71 points and positive 120 points, but gathered pace by the end of session to add a total of 477 points, closing the session at a high note. OGDC posted the result early on and declared below expectation dividend that dragged the price down. The stock price went up (although remained below LDCP) after announcement of a discovery.
Uptick was witnessed in Technology, Cement, Steel, Banks, O&GMCs and Refinery sectors. POL added a formidable gain as an exception to OGDC and PPL. Tech sector saw AVN, TELE and NETSOL hitting upper circuits.
Sectors contributing to the performance include Technology (up 157 points), Refinery (up 40 points), O&GMCs (up 35 points), Fertilizer (up 32 points) and Textile (up 29 points).
Stocks that contributed positively to the index include TRG (up 126 points), MEBL (up 36 points), POL (up 33 points), SYS (up 26 points) and UNITY (up 24 points). Stocks that contributed negatively include COLG (down 24 points), MCB (down 22 points), OGDC (down 19 points), HMB (down 11 points) and PPL (down 8 points).
Copyright Business Recorder, 2021
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