Pakistan Stock Exchange Monday witnessed a bullish trend due to healthy buying at low levels in almost all sectors. BRIndex100 gained 90.17 points or 2.21 percent to close at 4,161.58 points. BRIndex100 touched intraday high of 4,181.49 and intraday low of 4,071.37 points. Volumes stood at 143.276 million shares.
BRIndex30 increased by 518.42 points or 2.44 percent to close at 21,740.04 points with a turnover of 102.157 million shares.
KSE-100 index surged by 737.58 points or 1.91 percent to close at 39,299.63 points. Trading activity also improved as daily volumes on the ready counter increased to 154.173 million shares as compared to 128.530 million shares traded Friday.
Foreign investors however remained net sellers of shares worth $2.3 million. The market capitalization increased by Rs 124 billion to Rs 7.906 trillion. Out of total 356 active scrips, 242 closed in positive, only 93 in negative while the value of 21 stocks remained unchanged.
K-Electric was the volume leader with 34.681 million shares. It gained Re 0.45 to close at Rs 5.98 followed by Engro Polymer that increased by Rs 1.01 to close at Rs 37.80 with 7.949 million shares.
Philip Morris Pak and Wyeth Pak were the top gainers with Rs 60.55 and Rs 47.59, respectively to close at Rs 3,500.00 and Rs 1,048.59. Rafhan Maize and Pak Tobacco were the top losers with Rs 339.99 and Rs 25.00, respectively to close at Rs 6,760.01 and Rs 2,349.00.
BR Commercial Banks Index gained 71.35 points or 0.85 percent to close at 8,452.34 points with total turnover of 12.989 million shares.
BR Cement Index inched up by 65.94 points or 1.55 percent to close at 4,329.61 points with 23.531 million shares.
BR Oil and Gas Index increased by 179.36 points or 3.82 percent to close at 4,878.45 points with 10.281 million shares.
BR Tech. & Comm. Index closed at 1,084.90 points, up 29.08 points or 2.75 percent with 9.531 million shares.
BR Power Generation and Distribution Index surged by 219.93 points or 3.73 percent to close at 6,121.65 points with 35.364 million shares.
Danish Ladhani at JS Global Capital said that Pakistan equities closed on a positive note with KSE-100 Index gaining plus 737 points to finally settle at 39,299, up 1.9 percent. "Market remained positive throughout the trading sessions as we believe attractive valuation has stirred value hunting where buying interest was seen Financials where HBL (up 3.4 percent), MCB (up 0.7 percent) and UBL (up 1.6 percent) closed in the green zone", he said. Energy stocks also gained on the back of the news that the Opec and Russia has reached a deal to cut production where PPL (up 5.0 percent) closed limit up whereas OGDC (up 4.4 percent) and POL (up 4.2 percent) closed near upper circuit as well. Furthermore, a high-level delegation of Pakistan Stock Exchange called on Prime Minister Imran Khan here over the weekend where it was proposed to revive investors' confidence at PSX.
Interest was observed in Cements where LUCK (up 2.3 percent) and DGKC (up 0.1 percent) closed positive. Major stocks PPL (up 5.0 percent), OGDC (up 4.4 percent), HBL (up 3.4 percent), POL (up 4.2 percent), LUCK (up 2.3 percent), FFC (up 1.9 percent) and ENGRO (up 1.4 percent) cumulatively contributed plus 389 points towards the close.
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