KARACHI: Despite foreign selling, Pakistan Stock Exchange witnessed bullish trend Monday on the back of healthy buying by local investors coupled with institutional support.
BRIndex100 gained 62.34 points or 1.45 percent to close at 4,365.87 points. BRIndex100 hit intraday high of 4,369.24 and intraday low of 4,312.69 points. Volumes stood at 451.895 million shares.
BRIndex30 increased by 394.76 points or 1.81 percent to close at 22,158.89 points with a turnover of 300.975 million shares.
The KSE-100 Index surged by 584.47 points or 1.42 percent and closed at 41,850.47 points. Trading activity also improved as daily volumes on ready counter increased to 487.158 million shares as compared to 354.430 million shares traded on previous session.
Foreign investors however remained net sellers of shares worth $5.806 million. The market capitalization increased by Rs 84 billion to Rs 7.730 trillion. Out of total 430 active scrips, 307 closed in positive and 105 in negative while the value of 18 stocks remained unchanged.
Maple Leaf was the volume leader with 48.526 million shares and increased by Rs 1.74 to close at Rs 43.92 followed by Power Cement that gained Rs 0.80 to close at Rs 10.34 with 38.320 million shares. Rafhan Maize and Millat Tractors were the top gainers increasing by Rs 200.00 and Rs 57.80 respectively to close at Rs 8300.00 and Rs 979.13 while Nestle Pakistan and Premier Sugar were top losers declining by Rs 74.69 and Rs 42.69 respectively to close at Rs 6425.31 and Rs 526.56.
BR Automobile Assembler Index surged by 185.16 points or 2.31 percent to close at 8,199.31 points with total turnover of 6.052 million shares.
BR Cement Index increased by 324.16 points or 5.37 percent to close at 6,362.13 points with 148.907 million shares.
BR Commercial Banks Index lost 16.91 points or 0.2 percent to close at 8,546.78 points with 17.913 million shares.
BR Power Generation and Distribution Index gained 91.75 points or 1.92 percent to close at 4,867.05 points with 12.399 million shares.
BR Oil and Gas Index inched up by 43.12 points or 1.13 percent to close at 3,862.20 points with 31.011 million shares.
BR Tech. & Comm. Index closed at 1,881.49 points, up 81.51 points or 4.53 percent with 45.751 million shares.
Danish Ladhani at JS Global Capital said that the KSE-100 Index closed on a bullish note, gaining 584 points at 41,850 after making a high of plus 610 points.
The market remained positive post results of FATF meeting where it was decided that the country will stay on the grey list until February 2021 on the back of successfully complying with 21 out of 27 points.
LUCK (up 6.2 percent) in the Cements reported its consolidated first quarter of 2020 EPS of Rs 13.45 against EPS of Rs 3.93 in the same period last year. Moreover, CHCC (up 5.0 percent), KOHC (up 7.4 percent), FCCL (up 7.5 percent) closed in the upper circuit. NETSOL (up 7.5 percent) in the technology space closed in the upper circuit whereas AVN (up 7.4 percent) closed up as the export remittances of IT & IT-enabled Services (ITeS), comprising computer services and call centres, surged 43.55pc during the first three months (July-September). Furthermore, UBL (down 2.2 percent) in the financials announced its nine months of CY20 consolidated EPS of Rs 12.81 against EPS of Rs 12.82 in the same period last year.
Copyright Business Recorder, 2020