Bull run continued on Pakistan Stock Exchange on the second consecutive day of the new year on the back of aggressive buying mainly by local investors.
BRIndex100 gained 124.77 points or 2.88 percent to close at 4,462.02 points on Thursday. During the session, the BRIndex-100 touched an intraday high of 4,470.55 and an intraday low of 4,361.93 points. Total volumes stood at 367.288 million shares.
BRIndex30 increased by 738.74 points or 3.25 percent to close at 23,450.14 points with total turnover of 256.070 million shares.
KSE-100 index surged by 1080.76 points or 2.61 percent and closed at 42,480.76 points. Trading activities also improved significantly as daily volumes on ready counter increased to 412.354 million shares.
Total market capitalization increased by Rs 159 billion to Rs 8.043 trillion. Out of total 380 active scrips, 297 closed in positive and only 72 in negative while the value of 11 stocks remained unchanged.
K-Electric was the volume leader with 46.828 million shares and closed at Rs 4.77, up Rs 0.01 followed by Bank of Punjab that inched up by Rs 0.31 to close at Rs 12.04 with 27.923 million shares. Nestle Pakistan and Colgate Palmolive were the top gainers increasing by Rs 200.00 and Rs 119.95 respectively to close at Rs 8250.00 and Rs 2519.95 while Faisal Spinning and EFU Life were the top losers declining by Rs 14.00 and Rs 9.50 respectively to close at Rs 266.00 and Rs 212.15.
BR Automobile Assembler Index gained 77.06 points or 1.22 percent to close at 6,409.65 points with total turnover of 2.407 million shares.
BR Cement Index increased by 136.47 points or 3.7 percent to close at 3,827.83 points with 36.308 million shares.
BR Commercial Banks Index surged by 283.83 points or 2.96 percent to close at 9,870.43 points with 58.288 million shares.
BR Power Generation and Distribution Index closed at 5,802.15 points, up 192.62 points or 3.43 percent with 58.827 million shares.
BR Oil and Gas Index inched up by 120.95 points or 2.51 percent to close at 4,934.73 points with 31.036 million shares.
BR Tech & Comm Index gained 35.56 points or 3.52 percent to close at 1,046.22 points with 32.044 million shares.
Maaz Mulla at JS Global Capital said that the new year 2020 has so far been lucky for PSX as the KSE-100 Index continued its bull run for second consecutive day, making a high of 42,544 (up 1,144) points to close at 42,481 (up 1,081 points) level. On the news front, the federal cabinet at an urgent meeting approved proposed amendments to the Constitution and the army act in order to give a three-year extension to Chief of the Army Staff (COAS) General Qamar Javed Bajwa.
Major market movers of the day were HUBC (up 5.0 percent), HBL (up 3.2 percent), ENGRO (up 3.3 percent), UBL (up 3.9 percent), PPL (up 3.3 percent), LUCK (up 5.0 percent) and OGDC (up 3.0 percent). Moreover investor's interest was witnessed in the cement and banking sectors where LUCK (up 5.0 percent), DGKC (up 4.2 percent), FCCL (up 2.7 percent), CHCC (up 2.8 percent), BAHL (up 4.4 percent), UBL (up 3.9 percent), BAFL (up 3.4 percent), FABL (up 4.6 percent) and MCB (up 2.3 percent) were the major gainers.
Steel sector also enjoyed the bull run where MUGHAL (up 5.0 percent), INIL (up 5.0 percent), ASTL (up 4.5 percent), ASL (up 4.0 percent) and ISL (up 3.2 percent) closed higher than their previous day close.
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