KARACHI: Pakistan Stock Exchange recovered its overnight losses and closed on positive note on Wednesday on the back of both local and foreign investors support.

BRIndex100 gained 46.4 points or 1.13 percent to close at 4,143.41 points. During the session, the BRIndex-100 hit an intraday high of 4,150.49 and an intraday low of 4,083.01 points. Total volumes stood at 472.928 million shares.

BRIndex30 increased by 374.67 points or 1.79 percent to close at 21,272.85 points with total daily turnover of 343.812 million shares.

KSE-100 index surged by 305.16 points or 0.77 percent and closed at 39,882.78 points. Daily trading volumes stood at 501.945 million shares as compared to 593.981 million shares traded on Tuesday.

The foreign investors also remained net buyers of shares worth $620,806. Total market capitalization increased by Rs 42 billion to Rs 7.368 trillion. Out of total 405 active scrips, 248 closed in positive and 139 in negative while the value of 18 stocks remained unchanged.

Maple Leaf was the volume leader with 38.479 million shares and increased by Rs 2.28 to close at Rs 35.03 followed by Power Cement that gained Re 1.00 to close at Rs 9.73 with 37.475 million shares. Premier Sugar and Sanofi-Aventis were the top gainers increasing by Rs 35.46 and Rs 34.50 respectively to close at Rs 508.26 and Rs 868.00 while Pak Tobacco and Nestle Pakistan were the top losers declining by Rs 48.99 and Rs 40.00 respectively to close at Rs 1626.01 and Rs 6410.00.

BR Automobile Assembler Index gained 59.09 points or 0.75 percent to close at 7,988.95 points with total turnover of 9.856 million shares.

BR Cement Index surged by 245.75 points or 4.66 percent to close at 5,519.00 points with 136.070 million shares.

BR Commercial Banks Index lost 14.93 points or 0.18 percent to close at 8,152.78 points with 37.811 million shares.

BR Power Generation and Distribution Index inched up by 17.04 points or 0.35 percent to close at 4,848.10 points with 17.499 million shares.

BR Oil and Gas Index closed at 3,983.55 points, up 41.2 points or 1.05 percent with 43.103 million shares.

BR Tech & Comm Index increased by 51.82 points or 3.29 percent to close at 1,625.30 points with 62.914 million shares.

Ahsan Mehanti at Arif Habib Corporation said the stocks closed bullish amid high trades in the earnings season rally at PSX led by cement, oil and fertilizer scrips on strong valuations. He said surging global crude oil prices, upbeat data for cement sales surging by 41 percent in July 2020, exports surging by 5.8 percent on year-on-year basis and reports of surging fertilizer sales played a catalyst role in bullish close.

Copyright Business Recorder, 2020