BRIndex100 gains 118.37 points

Pakistan Stock Exchange witnessed a bullish day on the back of fresh buying, mainly by local investors on attractive low levels. BRIndex100 increased by 118.37 points or 2.58 percent to close at 4,705.41 points on Wednesday. BRIndex 100 touched an intraday high of 4,707.61 points and an intraday low of 4,579.01 points. The volume was 152.962 million shares.
BRIndex30 gained 677.13 points to close at 23,170.31 points with a turnover of 106.635 million shares. The benchmark KSE-100 index surged by 927.63 points to close at 42,910.79 points. However, daily trading volumes decreased to 166.773 million shares as compared to 217.012 million shares traded Tuesday.
Foreign investors remained net sellers of shares worth $2.9 million. The market capitalization increased by Rs 157 billion to Rs 8.934 trillion. Out of total 396 active scrips, 314 closed in positive, only 71 in negative while the value of 11 stocks remained unchanged. BR Commercial Banks Index closed at 8,486.06 points, up 158.74 points or 1.91 percent with total turnover of 14.417 million shares. BR Cement Index gained 162.18 points or 2.64 percent with total turnover of 21.582 million shares.
BR Oil and Gas Index increased by 78.82 points or 1.6 percent to close at 5,012.50 points with total turnover of 10.805 million shares. BR Tech. & Comm. Index closed at 1,325.07 points, up 48.18 points or 3.77 percent with total volume of 18.241 million shares. BR Power Generation and Distribution Index surged by 194.3 points or 2.9 percent to close at 6,897.88 points, with total turnover of 6.889 million shares.
An analyst at JS Global Capital said that the market witnessed recovery in the trading session as value investors took the opportunity to buy stocks at attractive prices. CHCC (up 2.9 percent) from the Cement sector announced its results for FY17, where an EPS Rs 11.08 was reported and final dividend of Rs 3.50 was announced. FCCL (up 4.9 percent) from the Cement sector closed near its upper circuit on account of the news regarding its production line-II expected to resume operations from October 2017. In the Banking sector, FABL (down 0.7 percent) and BAHL (up 4.3 percent) announced their result for first half of 2017, where the banks posted an EPS of Rs 2.17 and Rs 4.10, respectively. POL (up 2.0 percent) and PPL (up 1.6 percent) also recovered after recent correction in the respective stocks.