KSE-100 Index extends gains: BRIndex100 steady

Pakistan Stock Exchange Tuesday ended on a positive note due to healthy buying in various sectors.

BRIndex100 gained 14.5 points or 0.33 percent to close at 4,365.19 points. BRIndex100 touched intraday high of 4,399.40 and intraday low of 4,281.99 points. Volumes stood at 354.281 million shares.

BRIndex30 increased by 165.15 points or 0.73 percent to close at 22,944.10 points with a turnover of 251.920 million shares.

The KSE-100 Index surged by 123.78 points or 0.30 percent to close at 41,768.66 points. Trading activity also improved as daily volumes on the ready counter increased to 412.285 million shares as compared to 357.788 million shares traded Monday.

The market capitalization however decreased by Rs 14 billion to stand at Rs 8.037 trillion. Out of total 384 active scrips, 238 closed in negative, 130 in positive while the value of 16 stocks remained unchanged.

Fauji Foods was the volume leader with 40.589 million shares. The scrip gained Re 0.88 to close at Rs 16.81 followed by Hascol Petrol (R) that lost Re 0.80 to close at Rs 12.86 with 35.641 million shares. Rafhan Maize and Colgate Palmolive were the top gainers with Rs 96.00 and Rs 50.00, respectively to close at Rs 7,396.00 and Rs 2,350.00. Nestle Pakistan and Pak Tobacco were the top losers with Rs 280.00 and Rs 134.00, respectively to close at Rs 8,200.00 and Rs 2,546.00.

BR Automobile Assembler Index declined by 57.85 points or 0.9 percent to close at 6,384.52 points with total turnover of 4.031 million shares.

BR Cement Index decreased by 52.24 points or 1.4 percent to close at 3,688.74 points with 42.074 million shares.

BR Commercial Banks Index increased by 79.9 points or 0.83 percent to close at 9,740.83 points with 28.680 million shares.

BR Power Generation and Distribution Index plunged by 81.84 points or 1.48 percent to close at 5,439.56 points with 25.836 million shares.

BR Oil and Gas Index surged by 126.17 points or 2.62 percent to close at 4,935.48 points with 56.465 million shares.

BR Tech. & Comm. Index closed at 1,007.70 points, down 0.36 points or 0.04 percent with 30.456 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed higher amid record trades on upbeat economic outlook led by oil and banking scrips at PSX. Surging global equities and crude oil prices supported the market to close above session lows.

He said that the government resolve to ease circular debt crises in energy sector by tariff revisions, OGRA approvals for raise in gas prices and renewed hopes for gains in OGDC shale gas drilling played a catalyst role in bullish close.