A bullish trend continued on Pakistan Stock Exchange on the third consecutive day after the general elections on the back of healthy buying in almost all leading sectors. BRIndex100 gained 81.33 points or 1.75 percent to close at 4,730.43 points Monday. BRIndex100 touched intraday high of 4,739.80 and intraday low of 4,649.38 points. Volumes stood at 350.834 million shares.
BRIndex30 increased by 383.72 points or 1.66 percent to close at 23,559.48 points with a turnover of 222.788 million shares.
The benchmark KSE-100 index surged by 770.18 points or 1.80 percent and closed at 43,556.63 points. Daily trading volumes decreased to 377.933 million shares as compared to 385.493 million shares traded Friday.
Foreign investors remained net sellers of shares worth $2.9 million. The market capitalization increased by Rs 170 billion to Rs 8.860 trillion. Out of total 400 active scrips, 296 closed in positive, only 91 in negative while the value of 13 stocks remained unchanged.
WorldCall Telecom was the volume leader with 35.138 million shares. It gained Re 0.15 to close at Rs 2.11 followed by Pak Int. Bulk that increased by Re 0.98 to close at Rs 13.06 with 19.613 million shares.
Nestle Pakistan Colgate Palmolive were the top gainers with Rs 496.82 and Rs 144.50, respectively to close at Rs 10,990.00 and Rs 3,034.50. Wyeth Pak and Archroma Pak were the top losers with Rs 48.79 and Rs 16.74, respectively to close at Rs 1,370.80 and Rs 498.26.
BR Commercial Banks Index gained 47.65 points or 0.51 percent to close at 9,314.62 points with total turnover of 32.467 million shares.
BR Cement Index increased by 221.48 points or 4.61 percent to close at 5,026.64 points with 35.897 million shares.
BR Oil and Gas Index surged by 84.94 points or 1.61 percent to close at 5,359.68 points with 19.627 million shares.
BR Tech. & Comm. Index closed at 1,258.91 points, up 1.54 points or 0.12 percent with 51.172 million shares.
BR Power Generation and Distribution Index inched up by 21.39 points or 0.35 percent to close at 6,050.63 points with 18.829 million shares.
An analyst at Arif Habib Limited said it was the third consecutive increase after the holding of elections, taking the market to a cumulative increase of 2,200 points. The appreciating rupee and declining parity with USD captivated investors and each slide in PKR made the sectors depending on import of raw materials attractive. Cement, Autos, Pharma were in the limelight and most of the scrips in these sectors traded at and near upper circuits. PREMA (At-Tahur Limited) debuted with Upper Cap and increasing demand from investors to buy at +2 days upper circuit, however, little volume exchanged hands. Key drivers of index included HBL, LUCK and PSO, with expectation of healthy results on PSO for the full year.
With certainty of PTI forming the coalition, the euphoria is expected to end soon and more focus towards issues is likely to take significance, which is likely to give a breather to rising trend in index.
Sectors contributing to this increase include Cement (up 158 points), Banks (up 98 points), E&P (up 82 points), O&GMCs (up 57 points) and MARI (up 47 points).
Scripts that contributed positively include HBL (up 89 points), LUCK (up 75 points), PSO (up 32 points), PPL (up 31 points) and MARI (up 30 points). Stocks that contributed negatively include UBL (down 18 points), EFERT (down 11 points), SYS (down 8 points), EFUG (down 7 points) and ABL (down 7 points).
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