Pakistan Stock Exchange Tuesday rebounded. Although the market dipped again after positive opening, however it turned bullish and remained in the positive territory and closed in green zone with healthy gains. BRIndex100 gained 68.81 points or 1.79 percent to close at 3,915.17 points. BRIndex100 touched intraday high of 3,918.02 and intraday low of 3,844.34 points. Volumes stood at 257.805 million shares.
BRIndex30 increased by 140.65 points or 0.73 percent to close at 19,328.32 points with daily turnover of 192.044 million shares. The KSE-100 Index surged by 636.80 points or 1.72 percent to close at 37,695.75 points. Trading activity however remained low as daily volumes on the ready counter decreased to 274.483 million shares as compared to 307.960 million shares traded Monday.
Foreign investors remained net sellers of equities worth $5.1 million. The market capitalization declined by Rs 76 billion to Rs 7.048 trillion. Out of total 358 active scrips, 225 closed in positive, 114 in negative while the value of 19 stocks remained unchanged.
Maple Leaf was the volume leader with 27.881 million shares. It gained Re 0.76 to close at Rs 30.74 followed by Pak Petroleum that declined by Rs 5.81 to close at Rs 98.25 with 23.618 million shares. Colgate Palmolive and Philip Morris Pak were the top gainers with Rs 155.99 and Rs 88.97, respectively to close at Rs 2,387.99 and Rs 2,037.95. Unilever Foods and Sapphire Fiber were the top losers with Rs 190.00 and Rs 50.12, respectively to close at Rs 7,210.00 and Rs 711.00.
BR Automobile Assembler Index increased by 144.87 points or 2.55 percent to close at 5,822.57 points with total turnover of 2.973 million shares.
BR Cement Index gained 46.69 points or 1.02 percent to close at 4,615.12 points with 86.239 million shares. BR Commercial Banks Index surged by 295.51 points or 3.48 percent to close at 8,791.03 points with 28.861 million shares.
BR Power Generation and Distribution Index inched up by 62.37 points or 1.29 percent to close at 4,886.59 points with 20.719 million shares. BR Oil and Gas Index lost 33.69 points or 0.91 percent to close at 3,679.38 points with 56.128 million shares.
BR Tech. & Comm. Index closed at 964.16 points, up 20.1 points or 2.13 percent with 10.239 million shares. An analyst at Arif Habib Limited said that the market rebounded erasing most of the losses sustained Monday. The market opened on a positive note with plus 145 points, however, dipped again and lost 145 points during intra-day trading.
Oil & gas stocks kept the selling pressure on, due to low oil prices that maintained a plateau of 34/bbl. Interestingly, both OGDC and PPL, which were offered in huge quantities at lower lock on Monday got disposed off at and around Tuesday's lower circuit breakers. PSO turned out to be the head turner with a positive opening and closing the session at upper circuit. Cyclicals, Cement and Steel sector stocks were on back burner in relative terms, although leading stocks managed to post decent volumes.
Cement sector posted volumes of 86.2 million shares, followed by O&GMCs (43.5 million shares) and Banks (28.8 million shares). Sectors showing performance include E&P (down 152 points), Banks (up 353 points), Fertilizer (up 112 points), O&GMCs (up 93 points), Chemical (up 39 points) and Pharma (up 32 points).
Stocks that contributed positively include HBL (up 101 points), BAHL (up 64 points), MCB (up 60 points), PSO (up 50 points) and ENGRO (up 45 points). Stocks that contributed negatively include PPL (down 85 points), POL (down 61 points), OGDC (down 36 points), LUCK (down 19 points) and HMB (down 8 points).
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