Pakistan Stock Exchange Thursday closed on a positive note on the second consecutive day on the back of fresh buying in various sectors. BRIndex100 gained 43.95 points or 1.14 percent to close at 3,884.74 points. BRIndex100 touched intraday high of 3,902.05 and intraday low of 3,842.36 points. Volumes stood at 100.865 million shares.
BRIndex30 increased by 364.55 points or 1.87 percent to close at 19,880.14 points with a turnover of 68.839 million shares. The KSE-100 index surged by 291.78 points or 0.80 percent to close at 36,796.03 points. Trading activity however remained low as daily volumes on the ready counter decreased to 106.814 million shares as compared to 115.987 million shares traded Wednesday.
The market capitalization increased by Rs 27 billion to Rs 7.431 trillion. Out of total 338 active scrips, 207 closed in positive, 108 in negative while the value of 23 stocks remained unchanged.
Bank of Punjab was the volume leader with 11.264 million shares. It gained Re 0.54 to close at Rs 12.55 followed by WorldCall Telecom that lost Re 0.02 to close at Rs 1.02 with 7.407 million shares. Philip Morris Pak and Faisal Spinning were the top gainers with Rs 110.46 and Rs 12.39, respectively to close at Rs 3,099.98 and Rs 267.29. Nestle Pakistan and Bata Pak were the top losers with Rs 299.00 and Rs 81.50, respectively to close at Rs 7,700.00 and Rs 1,548.50.
BR Commercial Banks Index surged by 183.07 points or 2.24 points to close at 8,343.90 points with total turnover of 25.144 million shares. BR Cement Index increased by 32.55 points or 0.99 percent to close at 3,307.60 points with 17.504 million shares.
BR Oil and Gas Index inched up by 4.98 points or 0.11 percent to close at 4,504.37 points with 5.933 million shares. BR Tech. & Comm. Index closed at 849.60 points, up 5.49 points or 0.65 percent with 12.648 million shares.
BR Power Generation and Distribution Index gained 31.26 points or 0.62 percent to close at 5,102.79 points with 6.302 million shares.
An analyst at Topline Securities said following fall of around 5.5 percent in April (till 24th), the 100 index slightly recovered 0.8 percent as amnesty scheme is likely to be presented in front of Cabinet next week. Further, likely meeting of PM Imran Khan with IMF chief in China and expected arrival of the IMF mission from April 27-30, 2019 also restored investors confidence in getting bailout package.
Banking Index (BKTi) gained 351 points (or up 2.6 percent), as higher interest rates are now actually started materializing as evident from improved profitability of Banks. UBL, HBL, and MCB cumulatively added 119 points to index.
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