Energy sector leads PSX gains: BRIndex100 advances

Fresh buying in almost all sectors Monday supported the Pakistan Stock Exchange to close on strong positive note.

BRIndex100 gained 79.77 points or 1.87 percent to close at 4,350.69 points. BRIndex100 touched intraday high of 4,355.08 and intraday low of 4,270.91 points. Volumes stood at 268.552 million shares.

BRIndex30 increased by 489.55 points or 2.2 percent to close at 22,778.95 points with a turnover of 194.657 million shares.

The KSE-100 Index surged by 728.29 points or 1.78 percent to close at 41,644.88 points, which is the highest level in current calendar year. Trading activity also improved significantly as daily volumes on the ready counter increased to 357.788 million shares as compared to 270.713 million shares traded last Friday.

The market capitalization increased by Rs 149 billion to Rs 8.051 trillion. Out of total 391 active scrips, 276 closed in positive, only 96 in negative while the value of 19 stocks remained unchanged.

Hascol Petrol (R) was the volume leader with 53.275 million shares. The scrip gained Re 1.00 to close at Rs 13.66 followed by Unity Foods that inched up by Re 0.45 to close at Rs 15.81 with 31.387 million shares.

Nestle Pakistan and Rafhan Maize were the top gainers with Rs 380.00 and Rs 100.00, respectively to close at Rs 8,480.00 and Rs 7,300.00. Sapphire Textile and Sapphire Fiber were the top losers with Rs 49.99 and Rs 46.84, respectively to close at Rs 1,010.00 and Rs 890.15.

BR Automobile Assembler Index increased by 105.71 points or 1.67 percent to close at 6,442.37 points with total turnover of 2.462 million shares.

BR Cement Index gained 77.12 points or 2.1 percent to close at 3,740.98 points with 32.624 million shares.

BR Commercial Banks Index surged by 140.07 points or 1.47 percent to close at 9,660.93 points with 44.253 million shares.

BR Power Generation and Distribution Index inched up by 21.84 points or 0.4 percent to close at 5,521.40 points with 13.508 million shares.

BR Oil and Gas Index closed at 4,809.31 points, up 156.23 points or 3.36 percent with 46.813 million shares.

BR Tech. & Comm. Index gained 13.31 points or 1.34 percent to close at 1,008.06 points with 22.467 million shares.

Danish Ladhani at JS Global Capital said that the Pakistan equities closed on a positive note with the KSE-100 Index gaining 728 points, closing at 41,645 levels.

The market posted further gains, led by the oil and gas sector on the back of news that Pakistan has offered Russia to participate in the divestment of government's shareholding in the country's largest state-run oil and gas explorers - Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) - and become a strategic partner by acquiring shares.

PPL (up 5.0 percent), HBL (up 3.1 percent), OGDC (up 3.4 percent), POL (up 3.2 percent), UBL (up 1.3 percent), LUCK (up 2.0 percent), ENGRO (up 1.1 percent), MEBL (up 3.6 percent), DAWH (up 2.2 percent) and BAHL (up 1.7 percent) all cumulatively contributed towards the positive index close.