KARACHI: Aggressive buying mainly by local investors and institutions supported the Pakistan Stock Exchange to close on strong positive note with healthy gains on the first day after Eid holidays.
BRIndex100 gained 73.68 points or 1.82 percent to close at 4,132.64 points on Monday. During the session, the BRIndex-100 hit an intraday high of 4,143.21 and an intraday low of 4,058.96 points. Total volumes stood at 501.649 million shares.
BRIndex30 increased by 402.58 points or 1.94 percent to close at 21,136.46 points with total daily turnover of 335.083 million shares.
KSE-100 index surged by 613.17 points or 1.56 percent and closed at the level of 39,871.61 points. Trading activities also improved significantly as daily volumes on ready counter increased to 539.315 million shares as compared to 368.700 million shares traded on previous session.
Total market capitalization increased by Rs 96 billion to Rs 7.390 trillion. Out of total 412 active scrips, 286 closed in positive and 110 in negative while the value of 16 stocks remained unchanged.
Maple Leaf was the volume leader with 34.912 million shares and increased by Rs 1.33 to close at Rs 33.78 followed by Power Cement that gained Re 1.00 to close at Rs 8.20 with 32.593 million shares. Rafhan Maize and Sapphire Textile were the top gainers increasing by Rs 450.00 and Rs 57.99 respectively to close at Rs 7950.00 and Rs 843.99 while Mari Petroleum and Faisal Spinning were the top losers declining by Rs 23.75 and Rs 19.99 respectively to close at Rs 1350.30 and Rs 305.00.
BR Automobile Assembler Index increased by 205.25 points or 2.65 percent to close at 7,941.57 points with total turnover of 10.643 million shares.
BR Cement Index surged by 184.94 points or 3.54 percent to close at 5,404.51 points with 125.599 million shares.
BR Commercial Banks Index gained 149.11 points or 1.87 percent to close at 8,133.40 points with 44.927 million shares.
BR Power Generation and Distribution Index inched up by 42.06 points or 0.88 percent to close at 4,839.76 points with 36.073 million shares.
BR Oil and Gas Index lost 0.56 points or 0.01 percent to close at 3,993.86 points with 31.209 million shares.
BR Tech & Comm Index closed at 1,647.12 points, up 48.66 points or 3.04 percent with 51.883 million shares.
An analyst at Arif Habib Limited said the market opened on a positive note with plus 131 points and added a total of 670 points on the board to almost touch 40,000 level during intra-day trading.
The index also realized highest value traded of Rs 26 billion, which was last observed in 2017. While E&P stocks saw selling pressure, Cement and banking sectors took the lead and carried the momentum.
Release of inflation data caused some selling pressure, however, the same improved prospects for banking sector stocks, which are still trading at relatively low level compared with listed manufacturing sector stocks.
Cement sector garnered 125.5 million shares in trading volumes, followed by Technology (51.8 million shares) and Engineering (45.5 million shares).
Sectors contributing to the performance include Banks (up 169 points), Cement (up 126 points), Fertilizer (up 39 points), O&GMCs (up 37 points) and Pharma (up 34 points).
Stocks that contributed positively to the index include HBL (up 83 points), LUCK (up 54 points), TRG (up 35 points), ENGRO (up 29 points) and UBL (up 25 points). Stocks that contributed negatively include MARI (down 14 points), PPL (down 13 points), POL (down 6 points), OGDC (down 5 points) and MEBL (down 5 points).
Copyright Business Recorder, 2020
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