KSE-100 Index extends rally: BRIndex100 consolidates gains

Pakistan Stock Exchange Wednesday ended on a positive note on the back of healthy buying in various sectors. BRIndex100 gained 18.62 points or 0.55 percent to close at 3,388.84 points the BRIndex-100 touched an intraday high of 3,389.49 and intraday low of 3,360.47 points. Volumes stood at 173.436 million shares.
BRIndex30 increased by 267.76 points or 1.52 percent to close at 17,826.52 points with a turnover of 128.650 million shares. The KSE-100 Index surged by 109.03 points or 0.34 percent to close at 32,363.35 points. Daily trading volumes increased to 181.357 million shares as compared to 180.728 million shares traded Tuesday.
The market capitalization increased by Rs 10 billion to Rs 6.436 trillion. Out of total 367 active scrips, 219 closed in positive, 132 in negative while the value of 16 stocks remained unchanged.
Maple Leaf was the volume leader with 16.295 million shares. It gained Re 0.84 to close at Rs 16.48 followed by Unity Foods that inched up by Re 0.32 to close at Rs 9.50 with 15.966 million shares. Philip Morris Pak and Bata Pak were the top gainers with Rs 130.58 and Rs 62.25, respectively to close at Rs 3,199.99 and Rs 1,307.25. Colgate Palmolive and Pak Tobacco were the top losers with Rs 57.49 and Rs 15.00, respectively to close at Rs 1,942.51 and Rs 2,400.00.
BR Automobile Assembler Index gained 17.79 points or 0.37 percent to close at 4,848.67 points with total turnover of 1.761 million shares.
BR Cement Index surged by 67.86 points or 2.47 percent to close at 2,813.52 points with 46.200 million shares. BR Commercial Banks Index increased by 82.49 points or 1.09 percent to close at 7,636.97 points with 13.529 million shares. BR Power Generation and Distribution Index decreased by 16.08 points or 0.36 percent to close at 4,460.61 points with 11.131 million shares. BR Oil and Gas Index lost 15.56 points or 0.42 percent to close at 3,684.40 points with 7.784 million shares.
BR Tech. & Comm. Index closed at 684.63 points, up 4.15 points or 0.61 percent with 21.693 million shares. An analyst at Arif Habib Limited said that the market traded in a narrow range between plus 134 points and minus 74 points. Oil, as usual, had a field day with international crude prices on the decline. Refinery and OMCs remained unaffected from decline in oil prices.
Cement sector stayed in the limelight on the back of potential increase in cement price in North Region that had investors buying cement scrips consecutively. By the end of session, WTL announced intention to acquire more than 30 percent shares by Elko Broadband Inc that gave perspective to consistently high volumes in WTL. On the whole, Cement sector led the volumes table with 46.2 million shares, followed by Technology (21.7 million shares) and Vanaspati (15.9 million shares).
Sectors contributing to the performance include Banks (up 99 points), Cement (up 47 points), O&GMCs (up 18 points), E&P (down 45 points) and Fertilizer (down 19 points).
Stocks that contributed positively include HBL (up 82 points), UBL (up 20 points), NBP (up 12 points), DGKC (up 12 points) and BAFL (up 11 points). Stocks that contributed negatively include OGDC (down 20 points), DAWH (down 18 points), MCB (down 17 points), PPL (down 13 points) and POL (down 12 points).