Pakistan Stock Exchange Wednesday witnessed a bullish trend on the back of healthy buying in almost all sectors, mainly by local investors on expectations of positive impact of market support fund. BRIndex100 gained 148.61 points or 4.26 percent to close at 3,638.97 points. BRIndex100 touched intraday high of 3,647.60 and intraday low of 3,490.36 points. Volumes stood at 189.641 million shares.
BRIndex30 increased by 918.93 points or 5.15 percent to close at 18,763.06 points with a turnover of 139.374 million shares. The KSE-100 index surged by 1,195.04 points or 3.57 percent to close at 34,637.14 points. Trading activity also improved significantly as daily volumes on the ready counter increased to 203.498 million shares as compared to 153.526 million shares traded Tuesday. Foreign investors however remained net sellers of shares worth $3.4 million. The market capitalization increased by Rs 197 billion to Rs 7.073 trillion. Out of total 360 active scrips, 303 closed in positive, only 50 in negative while the value of 7 stocks remained unchanged. Bank of Punjab was the volume leader with 25.080 million shares. It gained Re 0.59 to close at Rs 12.25 followed by WorldCall Telecom that closed at Re 0.81, up Rs 0.01 with 20.146 million shares. Mari Petroleum and Millat Tractors were the top gainers with Rs 49.23 and Rs 32.82, respectively to close at Rs 1,034.02 and Rs 838.27. Unilever Foods and Indus Motor were the top losers with Rs 249.00 and Rs 16.04, respectively to close at Rs 6,001.00 and Rs 1,183.94.
BR Commercial Banks Index increased by 174.73 points or 2.18 percent to close at 8,201.89 points with total turnover of 44.231 million shares.
BR Cement Index closed at 3,015.77 points, up 156.29 points or 5.47 points with 17.047 million shares.
BR Oil and Gas Index surged by 196.59 points or 4.91 percent to close at 4,201.50 points with 10.868 million shares.
BR Automobile Assembler Index inched up by 128.43 points or 2.29 percent to close at 5,739.30 points with 1.087 million shares.
BR Power Generation and Distribution Index gained 270.06 points or 5.74 percent to close at 4,973.26 points with 18.819 million shares.
An analyst at Arif Habib Limited said that the market is showing signs of a bull run in the wake of the State Fund that will likely buy scrips of state owned listed entities. On the whole, market shot up by 1,256 points during the session, and closed plus 1195 points.
Majority stocks hit upper circuit including index blue chips OGDC, PSO, SNGP, NBP and otherwise traded in green zone throughout the session.
Banking sector led the volumes table with 44 million shares, followed by Technology (32 million) and Power (19 million) Sectors. Among banking sector BOP marked hefty volume of 25 million shares, followed by WTL (20 million) in Technology Sector.
Sectors contributing to the performance include E&P (up 269 points), Fertilizer (up 219 points), Banks (up 216 points), Power (up 116 points) and Cement (up 96 points).
Stocks that contributed positively include OGDC (up 93 points), PPL (up 93 points), HUBC (up 73 points), ENGRO (up 66 points) and HBL (up 65 points). Stocks that contributed negatively include BAFL (down 8 points), INDU (down 5 points), JLICL (down 4 points), ICI (down 2 points) and COLG (down 2 points).
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