Pakistan Stock Exchange Thursday closed on strong positive note on the back of local investors' and institutions' support.
BRIndex100 gained 35.86 points or 1.07 percent to close at 3,377.98 points. BRIndex100 touched intraday high of 3,397.79 and intraday low of 3,333.58 points. Volumes stood at 180.659 million shares.
BRIndex30 increased by 460.62 points or 2.78 percent to close at 17,052.22 points with total turnover of 139.307 million shares.
The KSE-100 Index surged by 386.60 points or 1.19 percent and closed at 32,850.83 points. Trading activity however remained low as daily volumes on ready counter decreased to 204.362 million shares as compared to 239.873 million shares traded on Wednesday.
The market capitalization increased by Rs 87 billion to Rs 6.192 trillion. Out of total 333 active scrips, 160 closed in positive and 151 in negative while the value of 22 stocks remained unchanged.
Maple Leaf was the volume leader with 25.623 million shares however declined by Rs 1.27 to close at Rs 26.72 followed by Hascol Petroleum that increased by Rs 1.04 to close at Rs 14.93 with 22.539 million shares. Unilever Foods and Mari Petroleum were the top gainers increasing by Rs 527.25 and Rs 64.13 respectively to close at Rs 7557.25 and Rs 1080.78 while Bata Pak and Otsuka Pak were the top losers declining by Rs 46.75 and Rs 23.00 respectively to close at Rs 1402.00 and Rs 320.00.
BR Automobile Assembler Index gained 22.57 points or 0.44 percent to close at 5,110.07 points with total turnover of 662,680 shares.
BR Cement Index declined by 127.68 points or 2.95 percent to close at 4,193.28 points with 71.905 million shares.
BR Commercial Banks Index decreased by 51.67 points or 0.75 percent to close at 6,877.63 points with 15.193 million shares.
BR Power Generation and Distribution Index increased by 100.79 points or 2.39 percent to close at 4,324.89 points with 5.012 million shares.
BR Oil and Gas Index surged by 196.81 points or 6.5 percent to close at 3,222.55 points with 43.359 million shares.
BR Tech. & Comm. Index closed at 858.20 points, down 5.5 points or 0.64 percent with 14.259 million shares.
An analyst at Arif Habib Limited said that the market traded range bound for most of the session, with Cement, Banks and Engineering (Steel) sectors facing selling pressure, whereas Oil & Gas stocks trading green.
International crude price rebounded overnight for WTI to trade up 15 percent from its previous close and helped OGDC, PPL and HASCOL hitting upper circuits. Sentiment on banking sector turned negative due to SBP's direction to the Banks to conserve capital by not declaring dividends. Cement sector, on the other hand, saw profit booking amid poor financial results of some Cement players.
Cement sector led the volumes with 70.4 million shares, followed by O&GMCs (28.1 million shares) and Banks (14.7 million shares).
Sectors contributing to the performance include E&P (up 265 points), O&GMCs (up 74 points), Fertilizer (up 65 points), Power (up 55 points), Pharma (up 24 points), Cement (down 96 points) and Banks (down 58 points).
Stocks that contributed positively to the index include OGDC (up 92 points), PPL (up 84 points), POL (up 51 points), ENGRO (up 45 points) and MARI (up 38 points). Stocks that contributed negatively include LUCK (down 32 points), MCB (down 29 points), DGKC (down 23 points), CHCC (down 15 points) and KOHC (down 14 points).
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