BRIndex100 turns green

Pakistan Stock Exchange Friday ended the week on a strong note on the back of healthy buying in various sectors.
BRIndex100 gained 120.19 points or 2.87 percent to close at 4,312.16 points. BRIndex100 touched intraday high of 4,312.16 and intraday low of 4,167.90 points. Volumes stood at 350.984 million shares.
BRIndex30 increased by 664.07 points or 3.01 percent to close at 22,711.35 points with a turnover of 269.464 million shares.
The benchmark KSE-100 index rose by 924.54 points or 2.33 percent to close well above 40,000 psychological level at 40,556.45 points. Trading activity also improved as daily volumes on the ready counter increased to 368.349 million shares as compared to 343.852 million shares traded Thursday.
Foreign investors however remained net sellers of shares worth $2.9 million. The market capitalization increased by Rs 158 billion to Rs 8.167 trillion. Out of total 396 active scrips, 278 closed in positive, 104 in negative while the value of 14 stocks remained unchanged.
Bank of Punjab was the volume leader with 53.514 million shares. It gained Re 0.16 to close at Rs 12.12 followed by Lotte Chemical that increased by Re 0.70 to close at Rs 19.92 with 25.048 million shares.
Nestle Pakistan and Rafhan Maize were the top gainers with Rs 445.00 and Rs 258.75, respectively to close at Rs 9,445.00 and Rs 7,458.75. Colgate Palmolive and Sanofi-Aventis were the top losers with Rs 127.00 and Rs 45.75, respectively to close at Rs 2,453.00 and Rs 869.38.
BR Commercial Banks Index increased by 199.63 points or 2.46 percent to close at 8,321.42 points with total turnover of 74.854 million shares.
BR Cement Index surged by 178.04 points or 4.2 percent to close at 4,414.28 points with 43.942 million shares.
BR Oil and Gas Index closed at 5,381.97 points, up 165.55 points or 3.17 percent with 19.070 million shares.
BR Tech. & Comm. Index gained 35.17 points or 3.07 percent to close at 1,180.91 points with 29.801 million shares.
BR Power Generation and Distribution Index inched up by 24.79 points or 0.41 percent to close at 6,071.37 points with 18.022 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bullish led by scrips across the board on strong valuations. Investor speculations remained in blue chips stocks ahead of PM visit to China to prop up finances. He said strong financial results in cement, steel and energy sector, recovery in global crude oil prices, likely surge in foreign reserves and remittances in FY19 played a catalyst role in bullish close.