Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended January 25, 2019 on the back of healthy buying in various sectors. BRIndex100 gained 118.88 points on week-on-week basis to close at 4,283.02 points. Average daily volumes stood at 159.547 million shares. BRIndex30 increased by 494.78 points to close at 22,482.82 points with average daily turnover of 118.543 million shares.
KSE-100 index surged by 958.28 points on week-on-week basis and closed at 40,264.78 points. Trading activities also improved as average daily volumes on ready counter increased by 42.8 percent to 168.45 million shares as compared to previous week's average of 117.97 million shares. Average daily trading value increased by 32.1 percent to Rs 7.29 billion.
The foreign investors remained net buyers of shares worth $17 million during the week. Total market capitalization increased by Rs 125 billion to Rs 8.051 trillion.
An analyst at AKD Securities said that the stock market opened the week positive in anticipation of a successful visit of PM Khan to Qatar while the unveiling of much-awaited 'mini budget' during the week kept the momentum positive. The same reflected in the stock market's performance as the bourse closed the week at 40,265 points, up 2.44 percent on week-on-week basis.
Gainers at the bourse under AKD universe included PSMC (up 23.8 percent), HBL (up 11.4 percent), UBL (up 9.9 percent), MCB (up 4.7 percent) and PPL (up 3.7 percent), whereas laggards were APL (down 3.4 percent), GWLC (down 2.2 percent), EFERT (down 1.6 percent), PIOC (down 1.3 percent) and FATIMA (down 1.3 percent).
An analyst at JS Global Capital said that the KSE-100 index continued its growth trajectory for the second week, closing at 40,264 levels, up 958 points.
During the week, Transport (up 6.2 percent), Banks (up 4.5 percent) and Autos (up 3.0 percent) outperformed the market.
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