Pakistan Stock Exchange Friday ended on a positive note on the back of select buying, mainly by local investors. BRIndex100 gained 13.58 points or 0.37 percent to close at 3,692.47 points. BRIndex100 touched intraday high of 3,709.60 and intraday low of 3,679.11 points. Volumes stood at 126.074 million shares. BRIndex30 inched up by 51.5 points or 0.27 percent to close at 18,846.51 points with a turnover of 83.364 million shares.
The KSE-100 index increased by 129.34 points or 0.37 percent to close at 35,125.25 points. Trading activity remained low as daily volumes on the ready counter decreased to 129.305 million shares as compared to 163.028 million shares traded Thursday.
The market capitalization increased by Rs 28 to Rs 7.063 trillion. Out of total 313 active scrips, 170 closed in negative, 122 in positive while the value of 21 stocks remained unchanged.
Summit Bank was the volume leader with 19.154 million shares. It closed at Re 0.66, up Re 0.01 followed by WorldCall Telecom that closed at Re 0.79 without any change with 15.891 million shares. Unilever Foods and Nestle Pakistan were the top gainers with Rs 266.00 and Rs 148.00, respectively to close at Rs 5,665.00 and Rs 6,848.00. Siemens Pak and Colgate Palmolive were the top losers with Rs 27.00 and Rs 25.00, respectively to close at Rs 593.00 and Rs 2,075.00.
BR Automobile Assembler Index gained 9.97 points or 0.17 percent to close at 5,947.41 points with total turnover of 1.078 million shares.
BR Cement Index inched up by 28.85 points or 0.89 percent to close at 3,206.19 points with 17.771 million shares.
BR Commercial Banks Index lost 3.63 points or 0.04 percent to close at 8,218.88 points with 25.955 million shares.
BR Power Generation and Distribution Index surged by 149.01 points or 3.07 percent to close at 4,997.85 points with 17.635 million shares.
BR Oil and Gas Index increased by 40.86 points or 0.98 percent to close at 4,194.95 points with 11.406 million shares.
BR Tech. & Comm. Index closed at 805.26 points, up 3.11 points or 0.39 percent with 24.627 million shares.
"As expected, FTSE rebalancing proved to be a non-event," an analyst at Arif Habib Limited said. The market remained positive throughout the session however, the gains were limited. The KSE-100 Index went up by 212 points but ended plus 129.34 just before the roll-over week begins.
Cement sector, which started the day on positive note, ended in red on the back of news that the reason for recent increase in cement price/bag does not hold good, which put a question mark on sustainability of recent price hike and therefore caused investors to sell Cement stocks.
On the other hand, power sector stood positive on the back of upcoming release of 200B Sukuk issue by the government of Pakistan that will ease pressure on OMCs and Power sector liquidity. E&P stocks, apart from PPL, also benefited from oil price increase.
Sectors contributing to the performance include Power (up 83 points), E&P (up 77 points), Food (up 19 points), Cement (down 18 points) and Banks (down 16 points).
Stocks that contributed positively include HUBC (up 76 points), POL (up 35 points), OGDC (up 34 points), EFERT (up 16 points) and NESTLE (up 14 points). Stocks that contributed negatively include HBL (down 10 points), FFC (down 10 points), BAHL (down 9 points), THALL (down 7 points) and UBL (down 6 points).
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