Pakistan Stock Exchange on Tuesday witnessed bullish trend on the back of healthy buying in various stocks. BRIndex100 gained 86.48 points or 2.0 percent to close at 4,420.10 points. During the session the BRindex-100 touched an intraday high of 4,434.46 and an intraday low of 4,310.39 points. Total volumes stood at 195.530 million shares.
BRIndex30 increased by 522.55 points or 2.39 percent to close at 22,357.00 points with total turnover of 144.031 million shares. Pakistan''s benchmark KSE-100 index surged by 775.83 points or 1.91 percent and closed at 41,486.87 points. Trading activities significantly improved as daily volumes on ready counter increased to 229.369 million shares as compared to 118.261 million shares traded on Monday.
Total market capitalisation increased by Rs 143 billion to Rs 8.714 trillion. Out of total 381 active scrips, 235 closed in positive and 124 in negative while the value of 22 stocks remained unchanged.
TRG Pak was the volume leader with 20.767 million shares however it lost Rs 1.06 to close at Rs 29.70 followed by K-Electric that gained Re 0.28 to close at Rs 6.49 with 18.297 million shares. Pak Tobacco and Mari Petroleum were the top gainers increasing by Rs 67.04 and Rs 63.30 respectively to close at Rs 2107.58 and Rs 1501.42, while Atlas Honda Limited and Jubilee Life Ins were the top losers declining by Rs 17.67 and Rs 13.00 respectively to close at Rs 548.50 and Rs 692.00.
BR Commercial Banks Index increased by 207.18 points or 2.54 percent to close at 8,355.83 points with total turnover of 29.675 million shares. BR Cement Index gained 177.77 points or 3.46 percent to close at 5,314.98 points with 36.754 million shares. BR Oil and Gas Index closed at 5,109.38 points, up 123.78 points or 2.48 percent with 12.733 million shares.
BR Tech & Comm Index lost 11.39 points or 1.04 percent to close at 1,083.69 points with 30.312 million shares. BR Power Generation and Distribution Index gained 147.06 points or 2.38 percent to close at 6,322.32 points with 22.468 million shares.
An analyst at Topline Securities said that Pak Equities shrugged of Donald Trumps absurd comments, rallying 1.9 percent/776 points and closing just shy of the 41,500 point mark. Despite US Commander-in-chief''s tweet ''no more'' regarding US aid to Pakistan, KSE-100 extended gains for the 9th consecutive session. The Santa Clause rally which started on December 20, 2017 has boosted index by 9 percent/3,567 points.
Last time KSE-100 witnessed similar rally from December 1-20, 2016 where market gained 11 percent/4,588 points over 13 green sessions. Participation is improving; volumes rose 94 percent while traded value shot up 135 percent with over Rs 10.5 billion exchanged. Last time a similar amount was traded (barring November 30, 2017 FTSE rebalancing) on November 09, 2017 (Rs 10.2 billion).
Top 10 Index point contributors were HBL (up 3.3 percent), PPL (up 2.8 percent), UBL (up 2.9 percent), MCB (up 2.7 percent), OGDC (up 2.2 percent), LUCK (up 3.4 percent), POL (up 2 7 percent) MARI (up 4.4 percent), DGKC (up 4 percent) and BAHL (up 2.6 percent); adding 456 points whereas decliners were TRG (down 3.5 percent), SNGP (down 1.4 percent), NCPL (down 5.0 percent), ATLH (down 3.1 percent), SCBPL (down 3.8 percent), JLICL (down 1.8 percent), ABOT (down 1.1 percent), EFUG (down 1.3 percent), SSGC (down 0.9 percent) and PTC (down 1.0 percent), withholding only 44points. Sector-wise; banks added 282 points, E&Ps 169 points, cement 134 points, Ferts 59 points and Power 30 points.
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