Pakistan Stock Exchange Monday witnessed highly volatile session and remained in negative territory for most of the day amid increasing volumes. However, late buying in certain sectors, mainly by local investors, supported the PSX to close on a positive note. BRIndex100 gained 17.88 points or 0.52 percent to close at 3,460.48 points. BRIndex100 touched intraday high of 3,465.61 and intraday low of 3,348.20 points. Volumes stood at 154.335 million shares. BRIndex30 surged by 352.2 points or 2.06 percent to close at 17,476.62 points with a turnover of 106.548 million shares.
The KSE-100 index increased by 83.92 points to close at 33,250.54 points. Trading activity improved significantly as daily volumes on the ready counter increased to 165.485 million shares as compared to 90.373 million shares traded Friday. Foreign investors however remained net sellers of shares worth $0.5 million. The market capitalization increased by Rs 25 billion to Rs 6.836 trillion. Out of total 343 active scrips, 207 closed in positive, 122 in negative while the value of 14 stocks remained unchanged.
K-Electric was the volume leader with 12.322 million shares. It gained Re 0.23 to close at Rs 3.90 followed by TRG Pak that lost Re 0.31 to close at Rs 15.28 with 9.867 million shares. Rafhan Maize and Pak Tobacco were the top gainers with Rs 65.50 and Rs 57.21, respectively to close at Rs 6,250.00 and Rs 2,579.24. Colgate Palmolive and Sanofi-Aventis were the top losers with Rs 50.00 and Rs 35.65, respectively to close at Rs 1,900.00 and Rs 677.35.
BR Commercial Banks Index increased by 42.07 points or 0.52 percent to close at 8,081.92 points with total turnover of 12.202 million shares. BR Cement Index gained 20.72 points or 0.75 percent to close at 2,795.78 points with 28.431 million shares.
BR Oil and Gas Index lost 24.76 points or 0.63 percent to close at 3,885.53 points with 15.606 million shares. BR Automobile Assembler Index inched up by 38.66 points or 0.7 percent to close at 5,582.82 points with 1.886 million shares.
BR Power Generation and Distribution Index closed at 4,620.26 points, up 97.96 points or 2.17 percent with 15.067 million shares. Maaz Mulla at JS Global Capital said that the Pakistan equities closed positive with the KSE-100 Index gaining 84 points. The local bourse kicked off on a negative note where the market nosedived, making a low of negative 814 point but later recovered plus 898 points and closed at 33,250 levels.
The market was under duress as the rupee further plunged to hit an all-time low of Rs 152/dollar in the open market. E&Ps were the major laggards where OGDC (down 1.2 percent) closed red and PPL (down 4.8 percent) closed near limit down as the exploration at the Kekra-1 well off the coast of southern Pakistan has been abandoned.
Mixed sentiment was seen in Cements where LUCK (up 0.5 percent) and DGKC (up 0.7 percent) closed in the green zone while CHCC (down 4.5 percent) closed near limit down. Similar sentiments were seen in the Financials as investors await the decision of Monetary Policy Committee meeting regarding interest rates hike. HBL (up 2.2 percent) and UBL (up 2.2 percent) closed in the green zone, whereas MCB (down 1.7 percent) and BAHL (down 0.3 percent) closed in the red.
ENGRO (up 2.6 percent), HBL (up 2.2 percent), UBL (up 2.2 percent), PSO (up 3.9 percent) and SNGP (up 5.0 percent) were top scrip to contribute to the positive closing.
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