KARACHI: Pakistan Stock Exchange Wednesday witnessed a bullish trend on the back of healthy buying by local and foreign investors. BRIndex100 gained 36.45 points or 0.73 percent to close at 5,021.93 points. BRIndex-100 hit intraday high of 5,048.11 and intraday low of 5,008.35 points. Volumes stood at 531.476 million shares.
BRIndex30 inched up by 81.13 points or 0.31 percent to close at 25,985.44 points with a turnover of 361.984 million shares.
The KSE-100 Index increased by 353.29 points or 0.76 percent to close at 46,933.63 points. Trading activity also improved as daily volumes on ready counter increased to 616.309 million shares as compared to 468.062 million shares traded Tuesday.
Foreign investors also remained net buyers of equities worth $2.624 million. Total market capitalization increased by Rs 46 billion to Rs 8.473 trillion. Out of total 438 active scrips, 236 closed in positive and 184 in negative while the value of 18 stocks remained unchanged.
K-Electric was the volume leader with 59.324 million shares and gained Rs 0.18 to close at Rs 4.67 followed by Pak Refinery that increased by Rs 1.49 to close at Rs 27.92 with 39.977 million shares. Mari Petroleum and Indus Dyeing were the top gainers increasing by Rs 98.91 and Rs 45.89 respectively to close at Rs 1533.98 and Rs 657.88 while AKD Capital and Island Textile were the top losers declining by Rs 45.56 and Rs 44.94 respectively to close at Rs 561.98 and Rs 1800.00.
BR Automobile Assembler Index lost 24.59 points or 0.28 percent to close at 8,773.69 points with total turnover of 4.724 million shares.
BR Cement Index surged by 216.05 points or 3.27 percent to close at 6,828.68 points with 63.743 million shares.
BR Commercial Banks Index gained 28.72 points or 0.31 percent to close at 9,390.90 points with 38.506 million shares.
BR Power Generation and Distribution Index inched up by 45.76 points or 0.75 percent to close at 6,142.32 points with 74.268 million shares.
BR Oil and Gas Index increased by 58.04 points or 1.37 percent to close at 4,296.25 points with 53.354 million shares.
BR Tech. & Comm. Index closed at 3,285.07 points, down 42.69 points or 1.28 percent with 60.596 million shares.
An analyst at Arif Habib Limited said that the market assertively crossed 47,000 level and put a total of 543 points on the board, closing the session up 353 points.
Healthy contribution was witnessed from cement sector, and was further aided by flows in Fertilizer, Banks and Power sectors. IPPs signing agreement with the government kept investors’ interest alive even the second day, which saw HUBC inch up from Tuesday’s levels. Cement sector performed on anticipation of an increase in cement price/bag as well as growth in dispatches.
International crude prices went further up that helped E&P stocks to surge. Among scrips.
Sectors contributing to the performance include Cement (up 160 points), E&P (up 102 points), Pharma (up 36 points), Textile (up 35 points) and Banks (up 32 points).
Stocks that contributed positively to the index include MARI (up 60 points), LUCK (up 49 points), CHCC (up 30 points), POL (up 27 points) and SEARL (up 26 points). Stocks that contributed negatively include TRG (down 41 points), PAKT (down 11 points), INIL (down 8 points), GHGL (down 8 points) and HASCOL (down 6 points).
Copyright Business Recorder, 2021
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