KARACHI: Pakistan Stock Exchange Wednesday witnessed a bullish trend and closed on a strong positive note with healthy gains on the back of aggressive buying, mainly by local investors in almost all sectors. BRIndex100 gained 110.53 points or 2.39 percent to close at 4,739.84 points. BRIndex100 hit intraday high of 4,756.77 points and intraday low of 4,629.31 points. Volumes stood at 265.320 million shares.
BRIndex30 increased by 716.76 points or 3.53 percent to close at 20,997.66 points with a turnover of 187.888 million shares.
The KSE-100 Index surged by 870.01 points or 1.95 percent to cross 44,000 psychological level to close at 45,499.46 points. Trading activity also improved as daily volumes on ready counter increased to 308.186 million shares as compared to 248.291 million shares traded on previous session.
Foreign investors however remained net sellers of shares worth $706,178. The market capitalization increased by Rs 93 billion to Rs 7.858 trillion. Out of total 361 active scrips, 274 closed in positive and only 79 in negative while the value of 8 stocks remained unchanged.
WorldCall Telecom was the volume leader with 49.452 million shares and gained Rs 0.25 to close at Rs 2.53 followed by Hum Network that inched up by Rs 0.36 to close at Rs 6.50 with 24.770 million shares. Sapphire Textile and Wyeth Pak were the top gainers increasing by Rs 81.00 and Rs 55.01 respectively to close at Rs 1210.00 and Rs 1685.00 while Rafhan Maize and Nestle Pakistan were the top losers declining by Rs 460.01 and Rs 124.99 respectively to close at Rs 10389.99 and Rs 5775.01.
BR Automobile Assembler Index increased by 122.22 points or 1.45 percent to close at 8,522.75 points with total turnover of 1.256 million shares.
BR Cement Index surged by 233.57 points or 4.2 percent to close at 5,798.66 points with 25.506 million shares.
BR Commercial Banks Index added 186.88 points or 1.91 percent to close at 9,968.41 points with 22.791 million shares.
BR Power Generation and Distribution Index gained 105.93 points or 1.96 percent to close at 5,515.63 points with 5.539 million shares.
BR Oil and Gas Index inched up by 30.3 points or 0.78 percent to close at 3,894.83 points with 8.633 million shares.
BR Tech. & Comm. Index closed at 4,296.29 points, up 162.15 points or 3.92 percent with 110.937 million shares.
“As the news of resumptions of dialogue with the IMF team relayed, investors’ concerns over the package started dissipating, causing the KSE-100 Index to make an upward swing,” an analyst at Arif Habib Limited said. The index posted a total gain of 934 points during the session, closing the index plus 870 points.
Cement, Technology, Banks, Fertilizer stocks remained in the limelight. Cement stocks led the index on news of Cement companies increasing the cement price / bag, whereas dwindling outflows from foreign counters in Banks and Fertilizer stocks also helped these sectors post healthy gains.
Sectors contributing to the performance include Banks (up 201 points), Cement (up 160 points), Technology (up 106 points), Fertilizer (up 79 points) and Textile (up 49 points).
Stocks that contributed positively to the index include TRG (up 65 points), LUCK (up 58 points), ENGRO (up 50 points), HUBC (up 49 points) and HBL (up 44 points). Stocks that contributed negatively include OGDC (down 8 points), NESTLE (down 7 points), HGFA (down 6 points), GHGL (down 5 points) and KAPCO (down 4 points).
Copyright Business Recorder, 2021
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