Pakistan Stock Exchange Monday witnessed aggressive buying in almost all sectors and recorded massive gain on the first day of the new trading week.
BRIndex100 gained 99.78 points or 2.65 percent to close at 3,868.87 points. BRIndex100 touched intraday high of 3,868.87 and intraday low of 3,769.09 points. Volumes stood at 248.439 million shares. BRIndex30 increased by 592.99 points or 3.01 percent to close at 20,296.51 points with a turnover of 163.944 million shares. The KSE-100 Index surged by 824.94 points or 2.29 percent to close at 36,803.10 points. Trading activity also improved as daily volumes on the ready counter increased to 282.944 million shares as compared to 210.573 million shares traded last Friday.
The market capitalization increased by Rs 101 billion to Rs 7.062 trillion. Out of total 380 active scrips, 304 closed in positive, only 59 in negative, while the value of 17 stocks remained unchanged.
Bank of Punjab was the volume leader with 35.924 million shares. It gained Re 0.46 to close at Rs 10.41 followed by WorldCall Telecom that inched up by Re 0.02 to close at Rs 1.71 with 14.480 million shares.
Colgate Palmolive and Bata Pak were the top gainers with Rs 91.40 and Rs 56.69, respectively to close at Rs 1,980.00 and Rs 1,785.38. Philip Morris Pak and Pak Tobacco were the top losers with Rs 116.44 and Rs 99.99, respectively to close at Rs 2,212.73 and Rs 2,400.01.
BR Automobile Assembler Index gained 63.16 points or 1.19 percent to close at 5,366.01 points with total turnover of 2.206 million shares.
BR Cement Index increased by 121.98 points or 3.81 percent to close at 3,323.52 points with 32.542 million shares.
BR Commercial Banks Index surged by 194.47 points or 2.34 percent to close at 8,513.65 points with 50.357 million shares.
BR Power Generation and Distribution Index closed at 4,916.64 points, up 223.93 points or 4.77 percent with 18.244 million shares.
BR Oil and Gas Index gained 125.23 points or 2.97 percent to close at 4,336.08 points with 14.860 million shares.
BR Tech. & Comm. Index inched up by 26.91 points or 3.41 percent to close at 814.96 points with 30.757 million shares.
Muhammad Maaz Mulla at JS Global Capital said that the PSX kicked off positive hitting the day's high of plus 839 points to close at 36,803 level (up 825 points). Significant buying came following a staff mission of the International Monetary Fund (IMF) concluded its visit to Pakistan with all praise to authorities for over-performing on first quarter targets under the $6 billion Extended Fund Facility to pave the disbursement of $450 million early next month.
Bulls continued the run across-the-board, where activity in all key sectors such as cements, banks and E&P was seen. Local and foreign investors showed aggressive participation in the market.
Active participation was witnessed in the cement sector by the local and foreign investors where MLCF (up 5.3 percent), DGKC (up 5.0 percent), CHCC (up 5.0 percent), PIOC (up 5.0 percent) and LUCK (up 3.2 percent) all closed higher than their previous day close.
Banking and E&P space contributed to the climbing index as UBL (up 3.6 percent), BAFL (up 3.7 percent), HBL (up 2.2 percent), BAHL (up 2.2 percent), BOP (up 4.6 percent), POL (up 2.9 percent), OGDC (up 2.8 percent) and PPL (up 2.4 percent) closed in the green zone.
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