KARACHI: Pakistan Stock Exchange Monday witnessed a bullish trend with high trading volumes on the back of healthy buying, mainly by local investors and institutions.
BRIndex100 gained 59.76 points or 1.15 percent to close at 5,251.51 points. BRIndex100 hit intraday high of 5,270.08 points and intraday low of 5,208.22 points. Volumes stood at 342.779 million shares.
BRIndex30 inched up by 46.59 points or 0.18 percent to close at 26,018.16 points with a turnover of 211.695 million shares.
The KSE-100 Index surged by 512.39 points or 1.08 percent to crossed 48,000 psychological level to close at 48,112.21 points. Trading activity also improved as daily volumes on the ready counter increased to 397.696 million shares as compared to 299.134 million shares traded last Friday.
Foreign investors however remained on selling side and withdrew $2.687 million from Pakistan capital market. The market capitalization increased by Rs 90 billion to Rs 8.400 trillion. Out of total 494 active scrips, 331 closed in positive and 144 in negative while the value of 19 stocks remained unchanged.
Hum Network was the volume leader with 35.383 million shares and gained Rs 0.48 to close at Rs 7.68 followed by Bank of Punjab that closed at Rs 8.71, up Rs 0.38 with 22.279 million shares. Rafhan Maize and Unilever Foods were the top gainers increasing by Rs 300.00 and Rs 260.01 respectively to close at Rs 10,000.00 and Rs 17,560.00 while Bata Pak and Colgate Palmolive were the top losers declining by Rs 88.41 and Rs 64.75 respectively to close at Rs 1660.00 and Rs 2715.25.
BR Automobile Assembler Index increased by 116.02 points or 1.18 percent to close at 9,939.65 points with total turnover of 4.309 million shares.
BR Cement Index gained 39.86 points or 0.55 percent to close at 7,310.59 points with 52.852 million shares.
BR Commercial Banks Index surged by 159.49 points or 1.67 percent to close at 9,685.93 points with 37.290 million shares.
BR Power Generation and Distribution Index lost 32.76 points or 0.59 percent to close at 5,555.10 points with 8.714 million shares.
BR Oil and Gas Index closed at 4,025.27 points, up 100.42 points or 2.56 percent with 19.815 million shares.
BR Tech. & Comm. Index inched up by 41.81 points or 0.9 percent to close at 4,696.16 points with 74.296 million shares.
An analyst at Arif Habib Limited said that the market traded in the positive zone throughout the session, adding a total of 545 points during the session and closing near the session's high with net 512 points.
The E&P sector, which was a laggard in the past year or so and particularly in the past month or so, performed well on the back of an increase of 3 percent in international crude oil prices. Besides, O&GMCs saw PSO sprinting due to its financial results, which were scheduled to be announced, but could not by sessions end.
Technology stocks ramped up taking cue from Series B fund raising of Airlift that helped improve valuation multiples of listed entities in Tech space.
Sectors contributing to the performance include Banks (up 167 points), E&P (up 143 points), Fertilizer (up 41 points), Misc (up 36 points) and O&GMCs (up 34 points).
Stocks that contributed positively to the index include MEBL (up 94 points), PPL (up 58 points), OGDC (up 46 points), ENGRO (up 42 points) and PSEL (up 35 points). Stocks that contributed negatively include HUBC (down 21 points), COLG (down 10 points), MLCF (down 9 points), EFERT (down 7 points) and FCCL (down 4 points).
Copyright Business Recorder, 2021
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