KARACHI: Aggressive buying at available attractive low levels in all sectors Tuesday supported the Pakistan Stock Exchange to close on strong positive note with healthy gains.
The benchmark KSE-100 Index surged by 572.72 points or 1.32 percent to close at 43,853.49 points. Trading activity also improved as daily volumes on the ready counter increased to 229.378 million shares as compared to 176.913 million shares traded Monday.
BRIndex100 increased by 89.8 points or 2.05 percent to close at 4,480.97 points with a turnover of 198.878 million shares.
BRIndex30 gained 675.57 points or 3.98 percent to close at 17,641.42 with total daily trading volumes of 114.862 million shares.
Foreign investors however remained net sellers of shares worth $496,897. The market capitalization increased by Rs 98 billion to Rs 7.516 trillion. Out of total 347 active scrips, 247 closed in positive and only 82 in negative while the value of 18 stocks remained unchanged.
Telecard Limited was the volume leader with 27.004 million shares and gained Rs 0.79 to close at Rs 14.70 followed by TPL Properties that increased by Rs 2.58 to close at Rs 37.68 with 15.710 million shares.
Unilever Foods and Rafhan Maize were the top gainers increasing by Rs 449.99 and Rs 291.00 respectively to close at Rs 19949.99 and Rs 9800.00 while Allawasaya Textile and Colgate Palmolive were the top losers declining by Rs 202.50 and Rs 49.99 respectively to close at Rs 2497.50 and Rs 2450.00.
An analyst at Topline Securities said that the Pakistan equities closed the session on a positive note where the benchmark KSE-100 Index settled at 43,853 level, up 1.32 percent.
After a gap up opening, the market made an intraday high of 785 points as investors cheered the news flow regarding PDM where they deferred resignation and hold “Mahngai March” in March.
Sector-wise, initial positivity came from technology and communication sector where TRG closed at its upper circuit, followed suit by SYS which contributed 33 points in KSE-100 Index. Meanwhile, investor’s interest also witnessed in E&Ps sector on the back of higher international oil prices where OGDC, PPL and POL closed on a higher note.
BR Automobile Assembler Index gained 50.12 points or 0.6 percent to close at 8,426.33 points with total turnover of 1.182 million shares.
BR Cement Index increased by 132.37 points or 2.45 percent to close at 5,538.91 points with 10.054 million shares.
BR Commercial Banks Index inched up by 27.2 points or 0.27 percent to close at 10,003.42 points with 12.719 million shares.
BR Power Generation and Distribution Index added 31.54 points or 0.58 percent to close at 5,432.44 points with 5.854 million shares.
BR Oil and Gas Index closed at 3,729.38 points, up 78.51 points or 2.15 percent with 30.253 million shares.
BR Tech. & Comm. Index surged by 149.56 points or 4.17 percent to close at 3,738.32 points with 53.438 million shares.
After three consecutive volatile sessions, bulls made a comeback as market made an intraday high at 44,066 points, an analyst at JS Global Capital said.
E&P companies remained under limelight throughout the day over news of a probable windfall inflow where OGDC and PPL gained 4.2 percent and 3.8 percent, respectively. Traded volumes stood at 229 million shares where TELE (up 5.7 percent), TPLP (up 7.4 percent), TREET (up 4.6 percent), UNITY (up 7.5 percent) and HASCOL (up 1.2 percent) cumulatively contributed 34 percent to the total volumes.
Copyright Business Recorder, 2021
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