KARACHI: Pakistan Stock Exchange Tuesday witnessed a positive trend and remained in green most of the day on the back of fresh buying by local and foreign investors. The benchmark KSE-100 Index increased by 130.30 points or 0.30 percent to once again cross 44,000 psychological level and close at 44,043.74 points. Trading activity also improved as daily volumes on the ready counter increased to 143.445 million shares as compared to 114.669 million shares traded on Monday.
BRIndex100 gained 17.55 points or 0.39 percent to close at 4,520.40 points with a turnover of 103.277 million shares.
BRIndex30 surged by 237.25 points or 1.27 percent to close at 18,986.81 points with total daily trading volumes of 71.899 million shares.
Foreign investors also remained net buyers of shares worth $1.355 million. Total market capitalization increased by Rs 18 billion to Rs 7.551 trillion. Out of total 356 active scrips, 168 closed in negative and 163 in positive while the value of 25 stocks remained unchanged.
Unity Foods (R3) was the volume leader with 18.872 million shares however lost Rs 0.42 to close at Rs 1.13 followed by TRG Pak that increased by Rs 5.24 to close at Rs 118.21 with 12.413 million shares.
Nestle Pakistan and Sanofi-Aventis were the top gainers increasing by Rs 100.00 and Rs 61.17 respectively to close at Rs 5500.00 and Rs 876.90 while Mehmood Textile and Philip Morris Pak were the top losers declining by Rs 39.00 and Rs 34.99, respectively to close at Rs 481.00 and Rs 715.00.
An analyst at Arif Habib Limited said that the market continued to remain volatile due to the rollover week and upcoming mini-budget. Profit-taking was witnessed in the first trading hour while the market battled between the bulls and bears throughout the day. Main board volumes remained on the dull note due to lack of any trigger whereas activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
Sectors contributing to the performance include Technology and Communication (up 59 points), Oil and Gas Exploration Companies (up 44 points), Cement (up 9 points) Automobile Assembler (up 9 points) and Oil and Gas Marketing Companies (up 7 points).
BR Automobile Assembler Index gained 51.06 points or 0.6 percent to close at 8,549.74 points with total turnover of 1.003 million shares.
BR Cement Index inched up by 6.2 points or 0.11 percent to close at 5,693.26 points with 7.405 million shares.
BR Commercial Banks Index lost 0.31 points to close at 9,661.21 points with 9.136 million shares.
BR Power Generation and Distribution Index decreased by 36.94 points or 0.67 percent to close at 5,507.85 points with 10.494 million shares.
BR Oil and Gas Index closed at 3,747.55 points, up 28.82 points or 0.77 percent with 5.297 million shares.
BR Tech. & Comm. Index increased by 69.25 points or 1.7 percent to close at 4,142.86 points with 37.819 million shares.
An analyst at Topline Securities said that Pakistan equities mostly remained in positive zone during the day where the benchmark KSE-100 Index settled at 44,043 level, up 0.30 percent. The market made an intraday high of 203 points and a low of 7 points.
Investor interest was seen in E&Ps sector on higher international oil prices further TRG contributed the most points in index closed 4.6 percent up.
Copyright Business Recorder, 2021
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