Pakistan Stock Exchange Wednesday witnessed a positive trend due to fresh buying in various sectors. BRIndex100 gained 34.94 points or 0.76 percent to close at 4,641.19 points. BRIndex100 touched intraday high of 4,647.36 and intraday low of 4,606.28 points. Volumes stood at 115.482 million shares.
BRIndex30 increased by 196.45 points or 0.82 percent to 24,048.70 points with a turnover of 79.261 million shares. The benchmark KSE-100 index surged by 244.49 points to 43,239.45 points. Trading activity also improved as daily volumes increased to 151.361 million shares as compared to 144.887 million shares traded Tuesday.
The market capitalization increased by Rs 35 billion to Rs 9.023 trillion. Out of total 378 active scrips, 193 closed in positive, 165 in negative while the value of 20 stocks remained unchanged. Byco Petroleum was the volume leader with 15.512 million shares. It gained Re 0.66 to close at Rs 15.72 followed by Agritech Limited that lost Re 0.17 to close at Rs 7.68 with 14.591 million shares.
Wyeth Pak and Bata Pak were the top gainers with Rs 90.54 and Rs 74.61, respectively to close at Rs 1,901.52 and Rs 2,899.60. Mari Petroleum and Bhanero Textile were the top losers with Rs 62.97 and Rs 44.87, respectively to close at Rs 1,471.89 and Rs 852.60. BR Commercial Banks Index decreased by 66.3 points or 0.75 percent to close at 8,762.93 points with total turnover of 13.394 million shares.
BR Cement Index increased by 71.97 points or 1.31 percent to close at 5,550.21 points with 9.123 million shares. BR Oil and Gas Index gained 22.42 points or 0.44 percent to close at 5,171.05 points with 5.685 million shares. BR Tech. & Comm. Index inched up by 4.3 points or 0.35 percent to close at 1,220.31 points with 8.871 million shares. BR Power Generation and Distribution Index closed at 6,348.07 points, up 30.86 points or 0.49 percent with 2.952 million shares.
Danish Ladhani at JS Global Capital said that Pakistan equities closed the session on a positive note, with benchmark KSE-100 Index settling at 43,239 levels, up 0.6 percent. Major heavyweights, namely OGDC (up 0.56 percent), PPL (up 2.44 percent), ENGRO (up 1.75 percent), LUCK (up 1.97 percent) and HUBC (up 1.48 percent) cumulatively contributed plus 143 points to the index.
Banks came under pressure as HBL (down 0.64 percent), ABL (down 1.06 percent) and UBL (down 1.07 percent) led the decline following the Supreme Court ruling, directing the aforementioned banks to immediately raise the minimum pension to Rs 8,000 per month. The payments will be prospective, that is, from the date of the judgment. Moreover, FABL (up 3.25 percent) closed in the green as the bank has announced full year 2017 EPS at Rs 3.42 up 5 percent. The bank also announced 15 percent bonus for 2017, with no cash payout.
On the positive side, OMCs drove the index where PSO (up 2.73 percent) SHEL (up 1.87 percent) closed in the green, as prices of high-speed diesel (HSD) and petrol likely to increase by almost Rs 7 and Rs 4 per litre due to increased rates in the international market.
Comments
Comments are closed.