Pakistan Stock Exchange Friday witnessed another bullish session on the back of healthy buying mainly by local investors and institutions. BRIndex100 gained 97.72 points or 2.39 percent to close at 4,191.56 points. BRIndex100 touched intraday high of 4,202.24 and intraday low of 4,092.18 points. Volumes stood at 195.775 million shares. BRIndex30 increased by 601.74 points or 2.92 percent to 21,227.79 points with a turnover of 148.350 million shares.
The benchmark KSE-100 index surged by 755.12 points or 1.95 percent to close at 39,470.89 points. Trading activity also improved as daily volumes increased to 222.992 million shares as compared to 179.631 million shares traded Thursday. The market capitalization increased by Rs 145 billion to Rs 8.359 trillion. Out of total 377 active scrips, 289 closed in positive, only 74 in negative while the value of 14 stocks remained unchanged.
Dewan Salman was the volume leader with 17.125 million shares. It gained Re 0.18 to close at Rs 1.38 followed by Lotte Chemical that increased by Re 0.68 to close at Rs 6.74 with 15.354 million shares. Sapphire Textile and Khyber Tobacco were the top gainers with Rs 78.00 and Rs 72.59, respectively to close at Rs 1,866.00 and Rs 1,585.59. Bata Pak and Murree Brewery were the top losers with Rs 120.00 and Rs 27.30, respectively to close at Rs 2,280.00 and Rs 695.10.
BR Commercial Banks Index gained 76.9 points or 0.99 percent to close at 7,866.43 points with total turnover of 19.773 million shares. BR Cement Index increased by 225.05 points or 5.06 percent to close at 4,677.05 points with 29.484 million shares. BR Oil and Gas Index closed at 4,884.00 points, up 78.56 points or 1.63 percent with 9.197 million shares.
BR Tech. & Comm. Index inched up by 26.91 points or 2.62 percent to close at 1,055.15 points with 29.719 million shares. BR Power Generation and Distribution Index surged by 164.99 points or 2.74 percent to close at 6,191.84 points with 13.573 million shares. An analyst at Arif Habib Limited said investor confidence seems to have reposed on the fundamentals. Highlight of the day were Cement and Steel Sectors, which drove the market sentiment and were at highly attractive PEs compared with the yesteryears' PE bands of respective scrips. Individuals have been participating to the advantage of Mutual Funds, which are expected to come positive in the coming week to build on where Individuals have left at the end of this week. The objective seems to be relatively better NAVs and portfolio values which will end the quarter/half year for Banks and Mutual Funds in green. Also, decline in oil & gas output from key fields contributed to negative sentiment towards key E&P scrips.
Sectors contributing to this increase were Cement (up 152 points), Commercial Banks (up 94 points), O&GMCs (up 91 points) and Fertilizer (up 89 points). Scrips that contributed positively include LUCK (up 60 points), PSO (up 42 points), FFC (up 40 points), OGDC (up 38 points) and UBL (up 37 points). Stocks that contributed negatively include POL (down 29 points), PPL (down 14 points), MUREB (down 6 points), BATA (down 4 points) and DAWH (down 4 points).
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