Cement, banks lift KSE-100 Index: BRIndex100 advances

Pakistan Stock Exchange Tuesday ended on a positive note on the back of healthy buying in various sectors. BRIndex100 gained 23.82 points or 0.71 percent to close at 3,370.22 points. BRIndex100 touched intraday high of 3,377.68 and intraday low of 3,336.96 points. Volumes stood at 166.955 million shares.
BRIndex30 increased by 205.23 points or 1.18 percent to close at 17,558.76 points with a turnover of 131.496 million shares. The KSE-100 Index surged by 175.47 points or 0.55 percent to close at 32,254.32 points. Trading activity also improved as daily volumes on the ready counter increased to 180.728 million shares as compared to 166.047 million shares traded Monday.
The market capitalization increased by Rs 20 billion to Rs 6.426 trillion. Out of total 368 active scrips, 245 closed in positive, 112 in negative while the value of 11 stocks remained unchanged.
K-Electric was the volume leader with 22.886 million shares. It gained Re 0.22 to close at Rs 3.77 followed by Unity Foods that inched up by Re 0.35 to close at Rs 9.18 with 19.427 million shares.
Bata Pak and Bhanero Textile were the top gainers with Rs 45.00 and Rs 37.42, respectively to close at Rs 1,245.00 and Rs 857.13. Philip Morris Pak and Rafhan Maize were the top losers with Rs 161.54 and Rs 90.00, respectively to close at Rs 3,069.41 and Rs 6,000.00.
BR Automobile Assembler Index increased by 36.84 points or 0.77 percent to close at 4,830.88 points with 2.758 million shares.
BR Cement Index surged by 98.48 points or 3.72 percent to close at 2,745.66 points with 37.839 million shares.
BR Commercial Banks Index inched up by 24.07 points or 0.32 percent to close at 7,554.48 points with 13.306 million shares.
BR Power Generation and Distribution Index closed at 4,476.69 points, up 51.98 points or 1.17 percent with 24.680 million shares.
BR Oil and Gas Index lost 8.25 points or 0.22 percent to close at 3,699.96 points with 9.154 million shares.
BR Tech. & Comm. Index gained 12.96 points or 1.94 percent to close at 680.48 points with 17.840 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bullish led by cement and banking scrips on strong valuations. He said upbeat economic data on FX reserves, higher banking spreads, rupee stability, likely fiscal discipline amid steps on IMF program played a catalyst role in bullish close.