Pakistan Stock Exchange witnessed a positive trend following fresh buying in oversold market Friday. BRIndex100 gained another 70.85 points or 1.64 percent to close at 4,402.94. BRIndex100 touched intraday high of 4,409.56 and intraday low of 4,328.18 points. Total volumes stood at 106.422 million shares. BRIndex30 increased by 289.49 points or 1.36 percent to 21,538.40 points with a turnover of 81.072 million shares.
The benchmark KSE-100 index surged by 565.13 points to 41,064.00 points. Daily trading volumes stood at 115.492 million shares as compared to 116.556 million shares traded Thursday.
The market capitalization increased by Rs 85 billion to Rs 8.476 trillion. Out of total 372 active scrips, 266 closed in positive, only 87 in negative while the value of 19 stocks remained unchanged.
WorldCall Telecom was the volume leader with 14.545 million shares. It gained Re 0.06 to close at Rs 2.97 followed by Pak Elektron that increased by Rs 2.80 to close at Rs 58.92 with 10.135 million shares.
Bata Pak and Millat Tractors were the top gainers with Rs 42.62 and Rs 37.17, respectively to close at Rs 2,562.00 and Rs 1,138.42. Sapphire Textile and Khyber Tobacco were the top losers with Rs 99.58 and Rs 73.30, respectively to close at Rs 1,892.09 and Rs 1,392.82.
BR Commercial Banks Index gained 99.57 points or 1.29 percent to close at 7,813.55 points with total turnover of 8.058 million shares.
BR Cement Index surged by 95.46 points or 1.88 percent to close at 5,167.47 points with 6.531 million shares.
BR Oil and Gas Index closed at 5,194.15 points, up 66.57 points or 1.3 percent with 12.030 million shares.
BR Tech. & Comm. Index gained 23.37 points or 2.08 percent to close at 1,147.10 points with 25.622 million shares.
BR Power Generation and Distribution Index closed at 6,373.39 points, up 26.72 points or 0.42 percent with total turnover of 5.335 million shares.
Bull Market Drivers
Ahsan Mehanti at Arif Habib Corporation said that stocks closed bullish in the post earnings season rally at PSX as investors weigh on oil, banking and cement stocks amid higher global crude prices, rising local cement prices and higher regulatory duties on luxury auto imports. Foreign inflows, upbeat CPI Inflation data for Oct''17 and investor interest on renewed foreign inflows. He said institutional interest in oversold fertilizer scrips amid speculations on likely upbeat data for October 2017 played a catalyst role in bullish close at PSX.
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