Pakistan Stock Exchange opened on a bearish note in continuation with the declining trend a day earlier, however late buying in select stocks supported it to close in positive territory. BRIndex100 gained 32.84 points or 0.79 percent to close at 4,208.12 points Tuesday. BRIndex100 touched intraday high of 4,217.89 and intraday low of 4,097.75 points. Volumes stood at 152.171 million shares.
BRIndex30 inched up by 31.81 points or 0.15 percent to close at 20,700.89 points with a turnover of 109.463 million shares.
The benchmark KSE-100 increased by 164.33 points to close at 39,452.81 points. Trading activity also improved as daily volumes on the ready counter increased to 167.810 million shares as compared to 123.582 million shares traded Monday.
Foreign investors remained net sellers of shares worth $9.7 million shares. The market capitalization increased by Rs 16 billion to Rs 8.197 trillion. Out of total 341 active scrips, 178 closed in negative, 152 in positive while the value of 11 stocks remained unchanged.
Fauji Cement was the volume leader with 15.246 million shares. However, it lost Re 0.13 to close at Rs 21.19 followed by Engro Polymer that decreased by Re 0.33 to close at Rs 28.03 with 13.195 million shares.
Colgate Palmolive and Ghandhara Industries were the top gainers with Rs 85.00 and Rs 26.18, respectively to close at Rs 2,800.00 and Rs 634.29. Rafhan Maize and Sanofi-Aventis were the top losers with Rs 417.50 and Rs 30.69, respectively to close at Rs 7,932.50 and Rs 917.50.
BR Commercial Banks Index increased by 72.3 points or 0.88 percent to close at 8,250.85 points with total turnover of 19.672 million shares.
BR Cement Index lost 14.35 points or 0.35 percent to close at 4,126.78 points with 39.308 million shares.
BR Oil and Gas Index gained 55.06 points or 1.1 percent to close at 5,058.67 points with 10.377 million shares.
BR Tech. & Comm. Index closed at 1,075.95 points, down 7.73 points or 0.71 percent with 9.677 million shares.
BR Power Generation and Distribution Index decreased by 17.6 points or 0.31 percent to close at 5,663.29 points with 8.624 million shares.
An analyst at Topline Security said that Pakistan equity market displayed a volatile performance with the index closing at 39,453 level, up by 164 points. The market started off negative, declining by as much as 727 points during the day. However by day end, the market had recovered and closed 0.42 percent higher than a day earlier, depicting 891 points rebound from the session's low.
Although market remains concerned with political noise and economic situation, yet value hunting due to attractive valuation levels helped market turn green. Commercial Banks and Oil & Gas Exploration Companies cumulatively pulled the market up by 198 points while Automobile Assembler and Fertilizer kept the market in check by cumulatively removing points 45 points.
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