PSX extends gains: BRIndex100 advances

A bullish trend continued on Pakistan Stock Exchange on the back of healthy buying in various sectors.

BRIndex100 gained 23.45 points or 0.63 percent to close at 3,736.74 points on Wednesday. BRIndex100 touched intraday high of 3,786.02 and intraday low of 3,727.65 points. Volumes stood at 270.066 million shares.

BRIndex30 increased by 146.7 points or 0.75 percent to close at 19,661.42 points with a turnover of 182.824 million shares.

The KSE-100 Index surged by 295.02 points or 0.83 percent to close at 35,653.33 points. Daily trading volumes on the ready counter stood at 298.062 million shares as compared to 308.484 million shares traded Tuesday.

The market capitalization increased by Rs 72 billion to Rs 6.919 trillion. Out of 379 active scrips, 248 closed in positive, 115 in negative while the value of 16 stocks remained unchanged.

WorldCall Telecom was the volume leader with 15.795 million shares. It gained Re 0.01 to close at Rs 1.49 followed by Fauji Cement that increased by Re 0.54 to close at Rs 16.36 with 15.656 million shares.

Nestle Pakistan and Pak Tobacco were the top gainers with Rs 314.00 and Rs 110.98, respectively to close at Rs 6,779.00 and Rs 2,393.00. Philip Morris Pak and Island Textile were the top losers with Rs 110.28 and Rs 71.58, respectively to close at Rs 2,580.00 and Rs 1,584.33.

BR Automobile Assembler Index increased by 116.77 points or 2.31 percent to close at 5,164.92 points with total turnover of 3.102 million shares.

BR Cement Index surged by 75.83 points or 2.36 percent to close at 3,289.31 points with 45.099 million shares.

BR Commercial Banks Index gained 20.59 points or 0.25 percent to close at 8,242.64 points with 13.815 million shares.

BR Power Generation and Distribution Index inched up by 38.56 points or 0.83 percent to close at 4,701.26 points with 19.638 million shares.

BR Oil and Gas Index closed at 4,135.75 points, up 9.23 points or 0.22 percent with 25.337 million shares.

BR Tech. & Comm. Index gained 8.61 points or 1.12 percent to close at 776.64 points with 27.997 million shares.

An analyst at Topline Securities said that the KSE-100 Index continued its momentum recording gain of 0.83 percent/295 points to close at 35,653 level. Equities are at the centre of attention for investors after recent reduction in yields of T-bills & PIBs which has also led to a decline to the tune of (170bps-228bps) in profit rates on all nation savings schemes.

Dawood Hercules Corporation (DAWH) was the top contributor to the index with 42 points, followed by PAKT and PPL which contributed 31 and 22 points, respectively.