PSX stays bullish: BRIndex100 takes a dip

Pakistan Stock Exchange Friday witnessed a mixed trend.

BRIndex100 closed on a negative note at 4,280.49 points, down 0.77 points or 0.02 percent. BRIndex100 touched intraday high of 4,315.91 points and intraday low of 4,267.54 points. Volumes stood at 356.710 million shares.

BRIndex30 increased by 143.16 points or 0.65 percent to close at 22,250.15 points with a turnover of 243.046 million shares.

The KSE-100 Index gained 91.15 points or 0.22 percent to close at 40,732.25 points. Trading activity remained low as daily volumes on the ready counter decreased to 416.921 million shares as compared to 507.900 million shares traded Thursday.

The market capitalization increased by Rs 41 billion to Rs 7.796 trillion. Out of total 382 active scrips, 185 closed in positive, 185 in negative while the value of 12 stocks remained unchanged.

Unity Foods was the volume leader with 53.506 million shares. It gained Re 0.82 to close at Rs 13.96 followed by Fauji Cement that inched up by Re 0.44 to close at Rs 17.51 with 31.956 million shares. Nestle Pakistan and Colgate Palmolive were the top gainers with Rs 345.00 and Rs 99.22, respectively to close at Rs 7,245.00 and Rs 2,083.72. Bata Pak and Wyeth Pak were the top losers with Rs 47.51 and Rs 26.18, respectively to close at Rs 2,078.98 and Rs 837.15.

BR Automobile Assembler Index decreased by 36.81 points or 0.56 percent to close at 6,530.12 points with total volumes of 4.451 million shares.

BR Cement Index lost 30.78 points or 0.81 percent to close at 3,749.58 points with 70.599 million shares.

BR Commercial Banks Index closed at 9,630.41 points, down 14.68 points or 0.15 percent with 33.690 million shares.

BR Power Generation and Distribution Index gained 26.96 points or 0.48 percent to close at 5,651.78 points with 29.698 million shares.

BR Oil and Gas Index increased by 29.59 points or 0.66 percent to close at 4,504.18 points with 28.217 million shares.

BR Tech. & Comm. Index inched up by 11.19 points or 1.12 percent to close at 1,014.09 points with 35.323 million shares.

Ahsan Mehanti at Arif Habib Corporation said that a bullish activity was witnessed in PSX select scrips across the board in the pre-earnings season rally on renewed foreign inflows, upbeat economic data on FX reserves and Moody's upgrade on Pakistan outlook and Pakistan banks to stable.

He said upbeat POL products, cement and reports on rising fertilizer sales data in November 2019 played a catalytic role in bullish close.