A bullish trend continued on Pakistan Stock Exchange on the back of fresh buying by local and foreign investors on Friday.
BRIndex100 gained 19.67 points or 0.56 percent to close at 3,503.78 points. BRIndex100 touched intraday high of 3,507.53 and intraday low of 3,483.14 points. Volumes stood at 170.045 million shares.
BRIndex30 increased by 242.83 points or 1.34 percent to close at 18,316.93 points with a turnover of 113.292 million shares.
The KSE-100 Index surged by 203.43 points or 0.60 percent to close at 34,008.33 points. Daily trading volumes however decreased to 213.284 million shares as compared to 240.208 million shares traded on Thursday.
Foreign investors remained net buyers of shares worth $0.1 million. Total market capitalization increased by Rs 48 billion to Rs 6.429 trillion. Out of total 339 active scrips, 180 closed in positive, 146 in negative while the value of 13 stocks remained unchanged.
Hascol Petroleum was the volume leader with 14.800 million shares. However, it lost Re 0.25 to close at Rs 14.58 followed by K-Electric that gained Re 0.10 to close at Rs 3.06 with 12.218 million shares. Unilever Foods and Nestle Pakistan were the top gainers with Rs 499.00 and Rs 342.50, respectively to close at Rs 9,599.00 and Rs 6,690.00. Pak Tobacco and Indus Dyeing were the top losers with Rs 44.83 and Rs 37.00, respectively to close at Rs 1,600.17 and Rs 491.00.
BR Automobile Assembler Index lost 33.89 points or 0.61 percent to close at 5,501.98 points with total turnover of 3.603 million shares.
BR Cement Index increased by 66.63 points or 1.58 percent to close at 4,270.61 points with 29.725 million shares. BR Commercial Banks Index decreased by 55.04 points or 0.82 percent to close at 6,663.46 points with 18.382 million shares.
BR Power Generation and Distribution Index surged by 99.27 points or 2.28 percent to close at 4,446.95 points with 17.737 million shares. BR Oil and Gas Index gained 60.71 points or 1.72 percent to close at 3,586.38 points with 26.362 million shares. BR Tech. & Comm. Index closed at 1,137.67 points, up 33.82 points or 3.06 percent with 26.260 million shares.
Maaz Mulla at JS Global Capital said that bears were defeated in the session as the market remained in green trajectory. The KSE-100 index opened positive and touched a high of plus 236 points as institutional participation was witnessed mainly in the main board stocks. The market remained green throughout the day and closed at 34,008, up 203 points level. Positive sentiments in the market can be attributed to attractive valuations of the KSE-100 index stocks.
Buying was largely driven by value hunters with heavyweights such as HUBC (up 3.3 percent), MARI (up 4.8 percent), POL (up 3.3 percent), OGDC (up 1.7 percent), PPL (up 1.6 percent) and LUCK (up 1.5 percent) leading the charts. Moreover cement sector closed in the green region where DGKC (up 1.8 percent), CHCC (up 6.5 percent), PIOC (up 2.7 percent), KOHC (up 2.0 percent) and LUCK (up 1.5 percent) were the major movers of the mentioned sector.
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