KARACHI: Pakistan Stock Exchange on Tuesday witnessed bullish trend on the back of healthy buying by both local and foreign investors.
BRIndex100 gained 50.85 points or 1.22 percent to close at 4,204.34 points. During the session, the BRIndex-100 hit an intraday high of 4,213.20 and an intraday low of 4,175.04 points. Total volumes stood at 436.879 million shares.
BRIndex30 increased by 363.27 points or 1.7 percent to close at 21,723.06 points with total daily turnover of 274.273 million shares.
KSE-100 index surged by 490.22 points or 1.23 percent and once again crossed 40,000 psychological level to close at 40,292.82 points. Trading activities also improved as daily volumes on ready counter increased to 535.068 million shares as compared to 371.723 million shares traded on Monday.
The foreign investors also remained net buyers of shares worth $2.355 million. Total market capitalization increased by Rs 89 billion to Rs 7.467 trillion. Out of total 402 active scrips, 278 closed in positive and 104 in negative while the value of 20 stocks remained unchanged.
Hascol Petroleum was the volume leader with 50.392 million shares and gained Rs 0.90 to close at Rs 16.96 followed by Unity Foods (R ) that lost Rs 0.22 to close at Rs 3.81 with 37.707 million shares. Rafhan Maize and Colgate Palmolive were the top gainers increasing by Rs 200.00 and Rs 179.99 respectively to close at Rs 8200.00 and Rs 2579.98 while Philip Morris Pak and Ismail Ind. were the top losers declining by Rs 45.00 and Rs 18.99 respectively to close at Rs 1610.00 and Rs 301.01.
BR Automobile Assembler Index increased by 114.22 points or 1.45 percent to close at 8,006.49 points with total turnover of 9.452 million shares.
BR Cement Index gained 32.46 points or 0.59 percent to close at 5,572.61 points with 69.885 million shares.
BR Commercial Banks Index inched up by 83.51 points or 1.03 percent to close at 8,190.25 points with 35.929 million shares.
BR Power Generation and Distribution Index surged by 116.63 points or 2.38 percent to close at 5,020.30 points with 15.271 million shares.
BR Oil and Gas Index closed at 4,144.38 points, up 74.64 points or 1.83 percent with 70.820 million shares.
BR Tech & Comm Index gained 27.58 points or 1.66 percent to close at 1,688.06 points with 56.737 million shares.
An analyst at Arif Habib Limited said that the market opened on a positive note and carried the momentum by adding a total of 538 points during the session and closing the session up 490 points.
Banking sector stocks advanced today and were supported by a rebound in prices of E&P, OMCs, Refinery, Chemicals and Steel sectors. Expectation of rebound in Economy and Current Account Surplus helped Index stage recovery.
Cement sector also contributed positively on the back of higher dispatches in the month of August 2020. Selling pressure in E&P and
OMCs subsided, compared with last few sessions making it possible for the underlying scrips to show price growth. Cement sector topped the volumes with 88 million shares, followed by OGMCs (66.4 million shares) and Technology (56.7 million shares).
Sectors contributing to the performance include Banks (up 93 points), E&P (up 91 points), Power (up 56 points), Chemical (up 41 points) and O&GMCs (up 39 points).
Stocks that contributed positively to the index include HUBC (up 51 points), HBL (up 34 points), UBL (up 28 points), OGDC (up 25 points) and MARI (up 25 points). Stocks that contributed negatively include LUCK (down 10 points), DAWH (down 6 points), FCEPL (down 3 points), PMPK (down 3 points) and NBP (down 2 points).
Copyright Business Recorder, 2020
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