KARACHI: Bullish trend continued on 12th consecutive session as the local bourse closed on four-month high level with seven month high trading volumes on the back of local investors and institutional support.
BRIndex100 gained 50.33 points or 1.35 percent to close at 3,786.93 points on Monday. During the session, the BRIndex-100 hit an intraday high of 3,798.83 and an intraday low of 3,737.82 points. Total volumes stood at 427.741 million shares.
BRIndex30 increased by 273.04 points or 1.43 percent to close at 19,374.58 points with total daily turnover of 304.482 million shares.
KSE-100 index surged by 428.16 points or 1.18 percent and closed at 36,618.57 points. Trading activities also improved significantly as the daily volumes on ready counter increased to seven month high level of 468.906 million shares as compared to 292.709 million shares traded on previous session.
The foreign investors however remained net sellers of shares and withdrew $6.7 million from the local equity market. Total market capitalization increased by Rs 66 billion to Rs 6.907 trillion. Out of total 403 active scrips, 236 closed in positive and 151 in negative while the value of 16 stocks remained unchanged.
Maple Leaf was the volume leader with 76.450 million shares and increased by Rs 1.50 to close at Rs 30.78 followed by Pak Elektron that gained Rs 1.20 to close at Rs 29.07 with 21.923 million shares. Rafhan Maize and Indus Motor Co were the top gainers increasing by Rs 345.00 and Rs 52.76 respectively to close at Rs 7470.00 and Rs 1191.14 while Island Textile and Premier Sugar were the top losers declining by Rs 107.97 and Rs 45.77 respectively to close at Rs 1331.69 and Rs 564.56.
BR Automobile Assembler Index increased by 178.86 points or 2.85 percent to close at 6,445.02 points with total turnover of 11.091 million shares.
BR Cement Index surged by 232.18 points or 5.04 percent to close at 4,843.41 points with 144.529 million shares.
BR Commercial Banks Index gained 33.5 points or 0.46 percent to close at 7,327.75 points with 31.005 million shares.
BR Power Generation and Distribution Index lost 12.8 points or 0.29 percent to close at 4,329.61 points with 23.590 million shares.
BR Oil and Gas Index inched up by 61.56 points or 1.62 percent to close at 3,853.61 points with 42.801 million shares.
BR Tech & Comm Index closed at 1,456.76 points, down 0.55 points or 0.04 percent with 43.243 million shares.
Maaz Mulla at JS Global Capital said that bears were defeated in the session as the market remained in green trajectory. The KSE-100 index opened positive and touched a high of plus 532 points as institutional participation was witnessed in the main board stocks.
The market remained green throughout the day and closed at 36,618, up 428 points level.
Cement sector continued its upward trend from last week where DGKC (up 7.3 percent), CHCC (up 7.5 percent), PIOC (up 7.1 percent), MLCF (up 5.1 percent), FCCL (up 4.8 percent) and LUCK (up 4.0 percent) were the major movers.
Steel sector also picked a similar trend where MUGHAL (up 7.5 percent), ASTL (up 7.5 percent), ISL (up 4.3 percent) and INIL (up 5.3 percent) closed in the green region.
Copyright Business Recorder, 2020
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