KARACHI: Pakistan Stock Exchange Thursday witnessed a bullish trend on the back of fresh buying by local and foreign investors at attractive low levels.
BRIndex100 gained 95.46 points or 2.29 percent to close at 4,266.02 points. BRIndex100 hit intraday high of 4,267.19 and intraday low of 4,170.61 points. Volumes stood at 319.469 million shares.
BRIndex30 increased by 520.13 points or 2.46 percent to close at 21,640.64 points with a turnover of 189.810 million shares.
The KSE-100 Index surged by 789.34 points or 1.96 percent to cross 41,000 psychological level to close at 41,071.30 points. Daily trading volumes stood at 356.655 million shares as compared to 427.848 million shares traded on Wednesday.
The foreign investors emerged net buyers of shares worth $1.674 million. Total market capitalization increased by Rs 119 billion to Rs 7.584 trillion. Out of total 400 active scrips, 292 closed in positive and only 86 in negative while the value of 22 stocks remained unchanged.
Pak Refinery was the volumes leader with 33.193 million shares and increased by Rs 1.33 to close at Rs 19.26 followed by Unity Foods that gained Rs 0.11 to close at Rs 23.31 with 32.343 million shares. Nestle Pakistan and Rafhan Maize were the top gainers increasing by Rs 138.69 and Rs 71.50 respectively to close at Rs 6350.00 and Rs 8599.00 while Sapphire Textile and Ismail Industries were the top losers declining by Rs 36.50 and Rs 34.65 respectively to close at Rs 850.01 and Rs 427.35.
BR Automobile Assembler Index increased by 144.72 points or 1.82 percent to close at 8,116.99 points with total turnover of 2.575 million shares.
BR Cement Index gained 81.2 points or 1.34 percent to close at 6,142.27 points with 23.183 million shares.
BR Commercial Banks Index surged by 211.18 points or 2.58 percent to close at 8,412.29 points with 17.025 million shares.
BR Power Generation and Distribution Index added 100.18 points or 2.04 percent to close at 5,003.64 points with 17.249 million shares.
BR Oil and Gas Index inched up by 123.77 points or 3.4 percent to close at 3,767.64 points with 30.820 million shares.
BR Tech. & Comm. Index closed at 1,818.34 points, up 39.46 points or 2.22 percent with 35.777 million shares.
"Biden's clear win, based on stats although not declared yet, gave the global markets some sense of relief and stability in investor sentiment", an analyst at Arif Habib Limited said. Resultantly, international crude oil prices stabilized near highs attained in the past couple of sessions, he added. Regional stock markets also followed suit and traded plus 2.5 percent on average.
Local bourse nudged along, while trading in the positive zone in the entire session, and added a total of 803 points during the session and closed up 789.34 points.
Buying activity was observed across the board, however, E&P and O&GMCs contributed the most to the index.
Sectors contributing to the performance include Banks (up 242 points), E&P (up 155 points), O&GMCs (up 59 points), Cement (up 56 points) and Power (up 48 points).
Stocks that contributed positively to the index include PPL (up 60 points), MCB (up 53 points), OGDC (up 51 points), HUBC (up 41 points) and POL (up 41 points). Stocks that contributed negatively include ATLH (down 4 points), ICI (down 3 points), FFBL (down 2 points), ARPL (down 1 point) and AICL (down 1 point).
Copyright Business Recorder, 2020
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