Pakistan Stock Exchange Wednesday witnessed a bullish trend on the back of local investors' and institutional support.
BRIndex100 gained 61.78 points or 1.85 percent to close at 3,406.89 points. BRIndex100 touched intraday high of 3,410.61 and intraday low of 3,345.11 points. Volumes stood at 128.106 million shares.
BRIndex30 increased by 507.26 points or 3.01 percent to close at 17,370.93 points with a turnover of 91.256 million shares.
The KSE-100 Index surged by 605.45 points or 1.86 percent to close at 33,158.84 points. Daily trading volumes decreased to 140.473 million shares as compared to 159.413 million shares traded Tuesday.
Foreign investors remained net sellers of shares worth $3.9 million. The market capitalization increased by Rs 96 billion to Rs 6.224 trillion. Out of total 342 active scrips, 226 closed in positive, only 96 in negative while the value of 20 stocks remained unchanged.
Maple Leaf was the volume leader with 18.439 million shares. It gained Re 0.38 to close at Rs 27.10 followed by Hascol Petroleum that inched up by Re 0.28 to close at Rs 14.63 with 8.217 million shares.
Unilever Foods and Rafhan Maize were the top gainers with Rs 637.50 and Rs 240.00, respectively to close at Rs 9,137.50 and Rs 6,800.00. Nestle Pakistan and Otsuka Pak were the top losers with Rs 80.33 and Rs 20.00, respectively to close at Rs 5,699.67 and Rs 300.00.
BR Automobile Assembler Index gained 84.4 points or 1.65 percent to close at 5,187.69 points with total turnover of 1.745 million shares.
BR Cement Index inched up by 90.75 points or 2.18 percent to close at 4,258.24 points with 43.979 million shares.
BR Commercial Banks Index lost 23.5 points or 0.35 percent to close at 6,746.96 points with 9.013 million shares.
BR Power Generation and Distribution Index surged by 212.8 points or 4.89 percent to close at 4,565.87 points with 7.542 million shares. BR Oil and Gas Index increased by 108.9 points or 3.44 percent to close at 3,270.12 points with 22.683 million shares.
BR Tech. & Comm. Index closed at 878.58 points, up 31.58 points or 3.73 percent with 5.110 million shares.
Danish Ladhani at JS Global Capital said that the KSE-100 Index closed at 33,159 levels, up 1.9 percent following a bleak trading session. Overall, the volumes remained dry with petite participation from the investors due to Ramazan. In the E&Ps, OGDC (up 4.5 percent), PPL (up 3.0 percent) and POL (up 6.3 percent) closed in the green zone as the U.S. crude prices inched up ahead of U.S. stockpile data.
NML (up 6.3 percent) announced its nine month of FY20 consolidated EPS of Rs 14.06 against EPS of Rs 16.18 in the same period last year with no cash payout. PIOC (up 2.5 percent) announced its nine months of FY20 LPS of Rs 2.30 against EPS 3.63 in the same period last year with no cash dividend. LUCK (up 3.0 percent) in the cements also closed in the green trajectory. PSO (down 0.3 percent) in the OMCs announced its nine months of FY20 consolidated LPS of Rs 2.19 against EPS 12.62 in the same period last year with no cash dividend due to hefty inventory losses.
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