KARACHI: A bullish trend continued at Pakistan Stock Exchange Friday. It closed on a strong positive note with healthy gains on the back of local investors and institutional support.
BRIndex100 gained 24.04 points or 0.63 percent to close at 3,846.60 points. BRIndex100 hit intraday high of 3,854.77 and intraday low of 3,822.56 points. Volumes stood at 428.396 million shares.
BRIndex30 inched up by 69.39 points or 0.35 percent to close at 19,667.60 points with a turnover of 284.919 million shares.
The KSE-100 Index increased by 329.41 points or 0.89 percent to close at 37,330.85 points. Trading activity also improved as daily volumes on the ready counter increased to 466.058 million shares as compared to 402.589 million shares traded Thursday.
Foreign investors remained net sellers of shares worth $955,756. The market capitalization increased by Rs 74 billion to Rs 7.079 trillion. Out of total 386 active scrips, 265 closed in positive, 104 in negative while the value of 17 stocks remained unchanged.
Hascol Petroleum was the volume leader with 87.258 million shares. It gained Re 0.22 to close at Rs 14.08 followed by Lotte Chemical that inched up by Re 0.78 to close at Rs 12.20 with 24.856 million shares.
Philip Morris Pak and Sapphire Textile were the top gainers with Rs 128.95 and Rs 67.01, respectively to close at Rs 1,879.95 and Rs 979.00. Island Textile and Ismail Ind were the top losers with Rs 97.86 and Rs 27.29, respectively to close at Rs 1,206.92 and Rs 336.71.
BR Automobile Assembler Index increased by 66.86 points or 0.98 percent to close at 6,865.41 points with total turnover of 11.538 million shares. BR Cement Index gained 13.39 points or 0.27 percent to close at 4,920.96 points with 35.630 million shares.
BR Commercial Banks Index lost 2.43 points or 0.03 percent to close at 7,340.38 points with 17.619 million shares.
BR Power Generation and Distribution Index surged by 79.87 points or 1.83 percent to close at 4,445.08 points with 20.173 million shares. BR Oil and Gas Index inched up by 3.66 points or 0.09 percent to close at 3,918.34 points with 102.573 million shares.
BR Tech. & Comm. Index closed at 1,423.13 points, down 10.7 points or 0.75 percent with 39.311 million shares. An analyst at Arif Habib Limited said that Refinery sector saw NRL and PRL hitting upper circuits after news of recent disruption in oil supplies and similar performance was observed in other refinery stocks.
Banking sector stocks remained muted throughout the session. Steel sector also performed on the back of expectation of an increase in steel prices. O&GMCs posted highest volumes of 92.9 million shares courtesy of HASCOL, and was followed by Chemical (52.9 million shares) and Technology (39.2 million shares).
Sectors contributing to the performance include Inv Banks (up 60 points), Fertilizer (up 52 points), Power (up 40 points), Chemical (up 35 points) and Autos (up 26 points).
Stocks that contributed positively to the index include DAWH (up 58 points), ENGRO (up 48 points), HUBC (up 42 points), THALL (up 20 points) and PAKT (up 15 points). Stocks that contributed negatively include HBL (down 14 points), EFUG (down 8 points), PPL (down 6 points), EFERT (down 6 points) and OGDC (down 5 points).
Copyright Business Recorder, 2020
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