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Pakistan Stock Exchange partially recovered its overnight losses on the back of fresh buying at attractive low levels. BRIndex100 gained 24.59 points or 0.64 percent to close at 3,892.72 points on Tuesday. BRIndex100 touched intraday high of 3,914.47 and intraday low of 3,828.92 points. Volumes stood at 128.652 million shares.
BRIndex30 increased by 337.39 points or 1.72 percent to close at 19,907.25 points with a turnover of 96.297 million shares. The KSE-100 index surged by 208.06 points or 0.56 percent to close at 37,129.97 points. Trading activity also improved as daily volumes on the ready counter increased to 160.484 million shares as compared to 106.972 million shares traded Monday.
Foreign investors remained net buyers of shares worth $0.4 million. The market capitalization increased by Rs 35 billion to Rs 7.614 trillion. Out of total 350 active scrips, 174 closed in positive, 149 in negative while the value of 27 stocks remained unchanged. Unity Foods (R) was the volume leader with 15.885 million shares. It gained Re 0.23 to close at Rs 2.78 followed by Maple Leaf that declined by Rs 1.60 to close at Rs 32.65 with 15.633 million shares.
Island Textile and Sanofi-Aventis were the top gainers with Rs 74.00 and Rs 25.03, respectively to close at Rs 1,923.00 and Rs 825.00. Bhanero Textile and Siemens Pak were the top losers with Rs 38.74 and Rs 10.00, respectively to close at Rs 736.26 and Rs 720.00. BR Commercial Banks Index gained 49.3 points or 0.61 percent to close at 8,152.00 points with total turnover of 16.148 million shares.
BR Cement Index increased by 80.11 points or 2.23 percent to close at 3,514.90 points with 40.084 million shares. BR Oil and Gas Index inched up by 29.5 points or 0.65 percent to close at 4,581.58 points with 12.471 million shares. BR Tech. & Comm. Index closed at 894.75 points, up 16.49 points 1.88 percent with 15.960 million shares.
BR Power Generation and Distribution Index surged by 202.22 points or 3.97 percent to close at 5,300.42 points with 13.259 million shares. An analyst at Topline Securities said that the market gained some confidence on the back of improved economy data. As per media reports, trade deficit reduced by 14 percent on year-on-year basis to $23.45 billion in nine months of FY19. While exports remained dull during March 2019, imports were reportedly down 24 percent (or $1.3 billion) to $4.0 billion, which is around 28-month low.
Among major sectors, cement sector continued its weak performance reducing 61 points from the index; power sector added 84 points while commercial banks ended in green after 6 trading sessions and added 56 points to the index. As compared to dull session, traded volume was up by 50 percent to 161 million shares which resulted in increased trade value by 45 percent to $42 million.

Copyright Business Recorder, 2019

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