Pakistan Stock Exchange witnessed bullish trend on the back of healthy buying by both local and foreign investors. BRIndex100 gained 59.27 points or 1.22 percent to close at 4,916.04 points on Tuesday. During the session, the BRIndex-100 touched an intraday high of 4,920.85 and an intraday low of 4,856.23 points. Total volumes stood at 123.843 million shares. BRIndex30 increased by 156.06 points or 0.63 percent to close at 24,853.98 points with total turnover of 76.747 million shares.
Pakistan's benchmark KSE-100 index surged by 504.74 points and closed at 45,876.70 points. Trading activities also improved as daily volumes on ready counter increased to 154.282 million shares as compared to 112.615 million shares traded on Monday. The foreign investors remained net buyers of shares worth $0.5 million. Total market capitalization increased by Rs 84 billion to Rs 9.449 trillion. Out of total 393 active scrips, 248 closed in positive and 127 in negative while the value of 18 stocks remained unchanged.
Pak Electron was the volume leader with 10.155 million shares however declined by Rs 1.99 to close at Rs 45.96 followed by Engro Polymer that lost Re 0.08 to close at Rs 38.33 with 8.570 million shares. Pak Tobacco and Colgate Palmolive were the top gainers increasing by Rs 52.33 and Rs 49.99 respectively to close at Rs 2207.33 and Rs 3450.00 while Rafhan Maize and Bata Pak were the top losers declining by Rs 196.67 and Rs 136.39 respectively to close at Rs 7903.33 and Rs 2644.61.
BR Commercial Banks Index increased by 84.35 points or 0.92 percent to close at 9,257.50 points with total turnover of 13.025 million shares. BR Cement Index gained 58.75 points or 1.0 percent to close at 5,932.90 points with 18.316 million shares. BR Oil and Gas Index surged by 95.75 points or 1.75 percent to close at 5,560.33 points with 11.138 million shares.
BR Tech. & Comm. Index inched up by 15.73 points or 1.3 percent to close at 1,227.20 points with 8.006 million shares. BR Power Generation and Distribution Index closed at 6,819.32 points, up 2.47 points or 0.04 percent with 6.033 million shares. An analyst at Arif Habib Limited said that the KSE-100 took a major stride and investors took positions without fear of heavy selling from foreigners or local institutional investors. Banks, Cement, Fertilizer, E&P and O&GMCs were major index drivers.
Result announcements of key corporates also added to the confidence and PPL, GSK, MUGHAL helped these stocks score higher prices on the bourse. News of Urea sales picking pace also helped fertilizer sector grow, besides, higher rupee dollar parity coupled with higher internal crude prices helped E&P companies extend gains. Sectors contributing to this increase include Banks (up 118 points), E&P (up 89 points), O&GMCs (up 66 points), Fertilizer (up 52 points) and Cement (up 50 points).
Scripts that contributed positively include LUCK (up 39 points), OGDC (up 38 points), UBL (up 37 points), HBL (up 36 points) and PSO (up 35 points). Stocks that contributed negatively include BAFL (down 12 points), PAEL (down 10 points), KTML (down 9 points), KEL (down 6 points) and BATA (down 5 points).
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