KARACHI: Pakistan Stock Exchange on Tuesday witnessed positive trend and closed in green with healthy gains on the back of fresh buying mainly by local investors and institutions on available attractive low levels. The benchmark KSE-100 index increased by 370.34 points or 0.86 percent and once again crossed 43,000 psychological level to close at 43,246.71 points. Trading activities also improved as daily volumes on ready counter increased to 212.350 million shares as compared to 150.389 million shares traded on Monday.
BRIndex100 gained 64.12 points or 1.48 percent to close at 4,407.97 points with total daily turnover of 188.851 million shares.
BRIndex30 surged by 655.34 points or 3.9 percent to close at 17,443.08 points with total daily trading volumes of 128.614 million shares.
The foreign investors however remained net sellers of shares worth $2.214 million. Total market capitalization increased by Rs 52 billion to Rs 7.419 trillion. Out of total 323 active scrips, 237 closed in positive and only 67 in negative while the value of 19 stocks remained unchanged.
WorldCall Telecom was the volume leader with 21.075 million shares and gained Re 0.10 to close at Rs 1.80 followed by Byco Petroleum that closed at Rs 5.99, up Re 0.34 with 16.139 million shares.
Nestle Pakistan and Sapphire Textile were the top gainers increasing by Rs 83.75 and Rs 50.18 respectively to close at Rs 5440.00 and Rs 898.97 while Gatron Industries and Sanofi-Aventis were the top losers declining by Rs 39.37 and Rs 17.07 respectively to close at Rs 485.62 and Rs 558.83.
Muhammad Mubashir at JS Global Capital said that positive activity was witnessed at the bourse. KSE-100 closed at the level of 43,247, gaining 370 points. Healthy participation was witnessed in tech stocks mainly TRG (up 7.5 percent), NETSOL (up 7.5 percent), AVN (up 6.9 percent) and TELE (up 4.6 percent).
Major contribution to the traded volume of 212 million shares came from WTL (up 5.9 percent), BYCO (up 6.0 percent), TPLP (up 4.3 percent), TELE (up 4.6 percent) and TRG (up 7.5 percent).
BR Automobile Assembler Index Closed at 8,302.36 with a net positive change of 94.61 points or a percentage change of 1.15 and a total turnover of 1,172,500.
BR Cement Index closed at 5,343.12 with a net positive change of 134.62 points or a percentage change of 2.58 and a total turnover of 12,664,940.
BR Commercial Banks Index closed at 9,817.23 with a net positive change of 14.62 points or a percentage change of 0.15 and a total turnover of 11,460,758.
BR Power Generation and Distribution Index closed at 5,414.40 with a net positive change of 40.95 points or a percentage change of 0.76 and a total turnover of 5,482,649.
BR Oil and Gas Index closed at 3,702.30 with a net positive change of 5.68 points or a percentage change of 0.15 and a total turnover of 16,331,015.
BR Tech & Comm Index closed at 3,706.13 with a net positive change of 118.77 points or a percentage change of 3.31 and a total turnover of 54,717,108.
Ahsan Mehanti at Arif Habib Corporation said the stocks showed recovery as investor weigh upbeat data on auto sales surging by 62 percent for July-November’21 and market projections for reduction in trade and current account deficit amid hike in SBP policy rate.
He said surge in remittances by 10 percent for July-November’21 to $13 billion and surging exports played a catalyst role in bullish close.
Copyright Business Recorder, 2021
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