Pakistan Stock Exchange Friday maintained a bullish trend on the back of healthy buying in various sectors. BRIndex100 gained another 39.35 points or 0.89 percent to close at 4,476.62 points. BRIndex100 touched intraday high of 4,506.46 and intraday low of 4,427.96 points. Volumes stood at 273.539 million shares.
BRIndex30 increased by 197.47 points or 0.85 percent to close at 23,503.98 points with a turnover of 191.004 million shares.
The benchmark KSE-100 index surged by 287.99 points or 0.69 percent to close at 42,004.09 points. Trading activity also improved as daily volumes increased to 292.381 million shares as compared to 245.116 million shares traded Thursday.
The market capitalization increased by Rs 44 billion to Rs 8.388 trillion. Out of total 377 active scrips, 253 closed in positive, 107 in negative while the value of 17 stocks remained unchanged.
Pak Elektron was the volume leader with 28.655 million shares. However, it lost Rs 1.05 to close at Rs 32.15 followed by Bank of Punjab that gained Re 0.25 to close 13.32 with 25.397 million shares.
Colgate Palmolive and Sanofi-Aventis were the top gainers with Rs 116.99 and Rs 44.05, respectively to close at Rs 2,469.99 and Rs 944.17. Island Textile and Mari Petroleum were the top losers with Rs 56.00 and Rs 50.90, respectively to close at Rs 1,560.00 and Rs 1,421.32.
BR Commercial Banks Index gained 80.12 points or 0.93 percent to close at 8,693.54 points with a turnover of 37.260 million shares.
BR Cement Index increased by 131.39 points or 2.77 percent to close at 4,867.71 points with 51.250 million shares.
BR Oil and Gas Index lost 72.98 points or 1.35 percent to close at 5,348.22 points with 9.663 million shares.
BR Tech. & Comm. Index inched up by 26.15 points or 2.25 percent to close at 1,186.97 points 25.514 million shares.
BR Power Generation and Distribution Index closed at 6,347.18 points, up 33.85 points or 0.54 percent with 12.502 million shares.
An analyst at Arif Habib Limited said that the market went through various phases of excitement, touching a low with minus 109 points and hitting a high of up 528 points during the day. In between, volumes jumped significantly in OGDC, PPL, MLCF, DGKC, BOP and TRG.
Couple of new triggers that played role were political uncertainty on the negative side in the first session (which had little impact on the index) and Chinese package to be announced to the tune of at least $6 billion, which resulted in a 200 points jump in a matter of few minutes, but was met with equal strength in selling which plunged the index from a high of 528 points to minus 20 points in a span of 30 minutes.
Key stocks that contributed to the decline in index at this stage were PSO, SNGP, DGKC, MLCF, PPL and OGDC. By the end of session, the index regained 300 points with a rebound in DGKC (hitting upper circuit) and other cement sector scrips performing equally well.
Stocks that contributed positively include UBL (up 57 points), HBL (up 42 points), LUCK (up 30 points), ENGRO (up 28 points) and DGKC (up 25 points) while scripts that contributed negatively include PPL (down 59 points), MARI (down 31 points), POL (down 23 points), OGDC (down 11 points) and MUREB (down 9 points).
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