KARACHI: Pakistan Stock Exchange Friday closed on a positive note on the 11th consecutive day on the back of local investors' and institutional support.
BRIndex100 gained 3.27 points or 0.09 percent to close at 3,736.60 points. BRIndex100 hit intraday high of 3,748.51 and intraday low of 3,716.47 points. Volumes stood at 267.013 million shares.
BRIndex30 closed at 19,101.54 points, down 51.89 points or 0.27 percent with a turnover of 177.539 million shares.
The KSE-100 Index increased by 48.24 points or 0.13 percent to close at 36,190.41 points. Trading activity however remained thin as daily volume on the ready counter decreased by 292.709 million shares as compared to 467.486 million shares traded Thursday.
Foreign investors however remained net sellers of shares worth $1.215 million. The market capitalization increased by Rs 7 billion to Rs 6.841 trillion. Out of total 358 active scrips, 174 closed in negative, 167 in positive while the value of 17 stocks remained unchanged.
Unity Foods was the volume leader with 27.984 million shares. However, it lost Re 0.16 to close at Rs 12.59 followed by Maple Leaf that gained Re 0.92 to close at Rs 29.28 with 24.635 million shares. Colgate Palmolive and Hinopak Motor were the top gainers with Rs 39.00 and Rs 35.03, respectively to close at Rs 2,299.00 and Rs 502.19. Sapphire Textile and Indus Dyeing were the top losers with Rs 51.00 and Rs 37.73, respectively to close at Rs 800.00 and Rs 551.00.
BR Automobile Assembler Index lost 4.12 points or 0.07 percent to close at 6,266.16 points with total turnover of 8.685 million shares.
BR Cement Index increased by 68.45 points or 1.51 percent to close at 4,611.23 points with 43.456 million shares.
BR Commercial Banks Index gained 34.37 points or 0.47 percent to close at 7,294.25 points with 24.239 million shares.
BR Power Generation and Distribution Index closed at 4,342.41 points, down 2.11 points or 0.05 percent with 14.388 million shares.
BR Oil and Gas Index fell by 19.26 points or 0.51 percent to close at 3,792.05 points with 25.496 million shares.
BR Tech. & Comm. Index decreased by 20.15 points or 1.36 percent to close at 1,457.31 points with 33.253 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks close higher in the earnings season led by cement and banking scrips on strong valuations.
Pressure remained on concerns for foreign outflows and bearish global stocks. Oil stocks battered on slump in global crude oil prices.
He said rupee stability, IMF FY21 forecast on gradual economic recovery owing to government economic package and tax incentives and SBP measures on reductions for export refinance rates played a catalyst role in positive close at PSX.
Copyright Business Recorder, 2020
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