PSX obtains mixed posture: BRIndex100 extends gains

Pakistan Stock Exchange Friday witnessed a mixed trend and closed on a positive note on the back of local investor support.

BRIndex100 gained 19.18 points or 0.58 percent to close at 3,300.07 points on Friday. BRIndex100 touched intraday high of 3,301.85 and intraday low of 3,227.92 points. Volumes stood at 117.352 million shares.

BRIndex30 however lost 13.22 points or 0.08 percent to close at 16,766.53 points with a turnover of 91.910 million shares.

The KSE-100 Index increased by 195.91 points or 0.62 percent to close at 32,033.21 points. Trading activity however remained very thin as daily volumes on ready counter decreased to 127.065 million shares as compared to 216.513 million shares traded on Thursday.

Foreign investors remained on selling side and withdrew $0.7 million from the local equity market. Total market capitalization increased by Rs 6 billion to Rs 6.055 trillion. Out of total 328 active scrips, 192 closed in positive and 118 in negative while the value of 18 stocks remained unchanged.

Hascol Petroleum was the volume leader with 11.938 million shares however lost Rs 0.35 to close at Rs 15.15 followed by K-Electric that gained Rs 0.02 to close at Rs 2.90 with 10.549 million shares. Rafhan Maize and Philip Morris Pak were the top gainers increasing by Rs 160.81 and Rs 61.05 respectively to close at Rs 6550.00 and Rs 1960.00 while Bhanero Textile and Pak Tobacco were the top losers declining by Rs 49.00 and Rs 42.45 respectively to close at Rs 641.00 and Rs 1536.00.

BR Automobile Assembler Index gained 36.69 points or 0.79 percent to close at 4,661.19 points with total turnover of 791,240 shares.

BR Cement Index inched up by 28.13 points or 0.76 percent to close at 3,731.23 points with 33.167 million shares.

BR Commercial Banks Index increased by 93.74 points or 1.33 percent to close at 7,140.36 points with 9.587 million shares.

BR Power Generation and Distribution Index closed at 4,487.24 points, up 10.08 points or 0.23 percent with 12.418 million shares.

BR Oil and Gas Index lost 53.84 points or 1.64 percent to close at 3,234.47 points with 24.903 million shares.

BR Tech. & Comm. Index surged by 34.44 points or 4.59 percent to close at 784.68 points with 10.000 million shares.

Danish Ladhani at JS Global Capital said that the stock market opened on a negative note on the last trading day of the week and made an intraday high and low of plus 248 and minus 460 points, respectively before closing at 32,033 levels, up 0.6 percent.

Overall, the market remained mixed in line with the regional peers as an agreement between Saudi Arabia and Russia for record oil-production cuts was at risk as Mexico refused to participate in the curbs and left the meeting without approving the deal.

OGDC (down 2.7 percent), PPL (down 2.6 percent) and POL (down 1.7 percent) in the E&Ps remained under pressure due to the tumbling oil prices in the international market. HBL (up 0.5 percent), UBL (up 1.4 percent), MCB (up 1.4 percent), ENGRO (up 1.7 percent), FFC (up 1.2 percent) and LUCK (up 0.7 percent) cumulatively contributed towards the positive index close.