A bullish trend continued on the Pakistan Stock Exchange Thursday. The KSE-100 Index closed on a strong positive note with healthy gains on the back of fresh buying in almost all sectors. BRIndex100 gained 75.08 points or 2.33 percent to close at 3,302.79 points. BRIndex100 touched intraday high of 3,339.36 and intraday low of 3,227.29 points. Volumes stood at 177.671 million shares.
BRIndex30 increased by 356.38 points or 2.12 percent to close at 17,181.01 points with a turnover of 126.468 million shares. The KSE-100 Index surged by 591.78 points or 1.91 percent to close at 31,546.61 points. Trading activity also improved significantly as daily volumes on the ready counter increased to 185.842 million shares as compared to 99.661 million shares traded Wednesday.
The market capitalization increased by Rs 84 billion to Rs 6.323 trillion. Out of total 360 active scrips, 262 closed in positive, only 79 in negative while the value of 19 stocks remained unchanged. WorldCall Telecom was the volume leader with 18.328 million shares. It gained Re 0.13 to close at Re 0.98 followed by K-Electric that inched up by Re 0.16 to close at Rs 3.42 with 11.772 million shares.
Nestle Pakistan and Colgate Palmolive were the top gainers with Rs 130.36 and Rs 99.74, respectively to close at Rs 5,750.00 and Rs 2,094.73. Sapphire Fiber and Murree Brewery were the top losers with Rs 40.13 and Rs 35.99, respectively to close at Rs 762.62 and Rs 733.00. BR Automobile Assembler Index gained 60.62 points or 1.25 percent to close at 4,908.67 points with total turnover of 1.241 million shares.
BR Cement Index increased by 104.08 points or 3.95 percent to close at 2,740.97 points with 31.066 million shares. BR Commercial Banks Index surged by 155.78 points or 2.08 percent to close at 7,632.42 points with 22.599 million shares. BR Power Generation and Distribution Index closed at 4,471.49 points, up 99.95 points or 2.29 percent with 23.007 million shares.
BR Oil and Gas Index inched up by 50.35 points or 1.47 percent to close at 3,475.31 points with 20.253 million shares. BR Tech. & Comm. Index gained 15.59 points or 2.45 percent to close at 652.08 points with 26.409 million shares. An analyst at Topline Securities said that third consecutive session closed under green umbrella at Pakistan stock market. The KSE-100 Index continued its positive momentum as it gained 592 points/1.91 percent to close at 31,547 level. During last three sessions the market has cumulatively gained 4.4 percent or 1,332 points.
In the market timings, a rumor regarding investment of a pension fund through mutual funds was making rounds which resulted in higher demand of equities. Further, decline of 30bps at T-bills auction also shifted investors focus towards fixed income. Positive sentiment was witnessed across-the-board.
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