Fresh buying, mainly by local investors supported Pakistan shares to close in positive territory Tuesday. BRIndex100 gained 25.74 points or 0.55 points to close at 4,680.75 points. BRIndex100 touched intraday high of 4,705.39 and intraday low of 4,655.02 points. Volumes stood at 169.594 million shares.
BRIndex30 increased by 185.61 points or 0.77 percent to 24,414.92 points with a turnover of 116.793 million shares. The benchmark KSE-100 index surged by 175.28 points to 43,690.36 points. Trading activity however remained low as daily volumes on the ready counter decreased to 203.686 million shares as compared to 215.319 million shares traded Monday.
Foreign investors however remained net sellers of shares worth $7.0 million. The market capitalization increased by Rs 29 billion to Rs 9.079 trillion. Out of total 354 active scrips, 183 closed in negative, 157 in positive while the value of 14 stocks remained unchanged.
Azgard Nine was the volume leader with 13.902 million shares. It gained Re 1.00 to close at Rs 18.88 followed by Engro Polymer that gained Re 0.82 to close at Rs 28.43 with 13.469 million shares. Khyber Tobacco and Hinopak Motor were the top gainers with Rs 32.77 and Rs 31.50, respectively to close at Rs 688.17 and Rs 1,211.75. United Brands and Service Industries were the top losers with Rs 30.06 and Rs 21.99, respectively to close at Rs 571.33 and Rs 893.00. BR Commercial Banks Index increased by 104.48 points or 1.21 percent to close at 8,739.51 points with total turnover of 13.665 million shares.
BR Cement Index lost 22.9 points or 0.39 percent to close at 5,782.50 points with 16.143 million shares. BR Oil and Gas Index gained 7.68 points or 0.15 percent to close at 5,206.67 points with 6.927 million shares. BR Tech. & Comm. Index closed at 1,249.28 points, up 1.16 points or 0.09 percent with 22.087 million shares.
BR Power Generation and Distribution Index decreased by 7.55 points or 0.12 percent to close at 6,542.07 points with 5.851 million shares. Ahsan Mehanti at Arif Habib Corporation said that stocks showed recovery on institutional speculations in the earnings season on strong valuations. Mid-session pressure witnessed on concerns for ongoing foreign outflows, dip in auto sector after government decision on import allowance of 3 year old used car in accordance with previous policy and weak global equities. He said upbeat data on textile exports, remittances and cement dispatches for July-December 2017 and robust financial results played a catalyst role in bullish close.
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