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KARACHI: Despite foreign selling, Pakistan Stock Exchange Tuesday closed on a positive note with healthy gains on the back of fresh buying by local investors and institutions. BRIndex100 gained 59.67 points or 1.41 percent to close at 4,287.63 points. BRIndex100 hit intraday high of 4,297.81 and intraday low of 4,190.15 points. Volumes stood at 327.986 million shares.

BRIndex30 increased by 288.42 points or 1.34 percent to close at 21,738.02 points with a turnover of 223.427 million shares.

The KSE-100 Index surged by 463.41 points or 1.14 percent and once again crossed 41,000 psychological level to close at 41,204.36 points. Trading activities however remained low as daily volumes on ready counter decreased to 353.650 million shares as compared to 407.194 million shares traded on Monday.

Foreign investors however remained on selling side and withdrew $4.064 million from Pakistan capital market. Total market capitalization increased by Rs 74 billion to Rs 7.728 trillion. Out of total 412 active scrips, 277 closed in positive and 115 in negative while the value of 20 stocks remained unchanged.

Hascol Petroleum was the volume leader with 50.223 million shares and increased by Rs 1.20 to close at Rs 21.70 followed by Unity Foods that inched up by Rs 0.02 to close at Rs 17.47 with 22.625 million shares. Mari Petroleum and ICI Pakistan were the top gainers increasing by Rs 34.09 and Rs 32.34 respectively to close at Rs 1353.19 and Rs 711.60 while Nestle Pakistan and Sapphire Textile were the top losers declining by Rs 90.00 and Rs 69.59 respectively to close at Rs 6700.00 and Rs 858.40.

BR Automobile Assembler Index gained 54.89 points or 0.73 percent to close at 7,547.25 points with total turnover of 3.928 million shares. BR Cement Index increased by 64.13 points or 1.13 percent to close at 5,724.84 points with 38.391 million shares.

BR Commercial Banks Index surged by 128.29 points or 1.57 percent to close at 8,315.64 points with 26.755 million shares.

BR Power Generation and Distribution Index inched up by 32.36 points or 0.66 percent to close at 4,933.45 points with 29.576 million shares.

BR Oil and Gas Index closed at 4,067.82 points, up 62.8 points or 1.57 percent with 65.855 million shares.

BR Tech. & Comm. Index gained 30.96 points or 1.67 percent to close at 1,887.05 points with 35.216 million shares.

Maaz Mulla at JS Global Capital said that recovery was witnessed at the local bourse where the market moved from intraday high of plus 705 point to intraday low of minus 351 points to close at 41,204 level, up 463 points. Recovery was seen in the cements and refinery sectors where PIOC (up 2.4 percent), MLCF (up 1.7 percent), LUCK (up 2.0 percent), NRL (up 2.1 percent), ATRL (up 2.6 percent), BYCO (up 7.9 percent) and PRL (up 4.6 percent) were the major movers.

Technology sector also enjoyed the upward rally where TRG (up 3.7 percent), NETSOL (up 6.1 percent) and AVN (up 7.4 percent) gained to close higher than their previous day close. SEARL (down 1.8 percent) from the Pharma sector declared its FY20 result, where the company posted an EPS of Rs 11.56 per share with a cash payout of Rs 2.50 per share.

Copyright Business Recorder, 2020

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