KARACHI: Pakistan Stock Exchange (PSX) Monday closed on a bullish note due to a positive sentiment in the market.

BRIndex100 increased by 103.14 points or 2.32 percent to close at 4,552.11 points compared to 4,448.97 points Friday. BRIndex100 touched intraday high of 4,557.74 points and intraday low of 4,448.97 points. Volume at BRIndex was 563.521 million and Pakistan Refinery was the most traded company in BRIndex100 with a volume of 57.48 million shares.

BRIndex30 also gained 488.11 points or 2.17 percent to reach 22,963.95 points. It hit an intraday high of 23,000.42 points and an intraday low of 22,475.84 points. Overall turnover at BRIndex was 318.193 million shares. Hascol Petroleum was the most traded company in BRIndex30 with a volume of 46.848 million.

The benchmark KSE-100 Index, making a high of 846 points during the intraday trading, closed at 43,266 points, up 796 points. Share trading volumes on ready counter surged to 629.5 million shares on Monday compared to 557.610 million on Friday.

The market capitalization increased by Rs 126 billion to Rs 7.901 trillion. Average traded value also increased by 11 percent to reach $ 164.7 million as against $ 149 million. Out of total 413 active scrips, 320 closed in positive and 76 in negative while the value of 17 stocks remained unchanged.

Ahsan Mehanti of Arif Habib Corp said that bullish activity witnessed at PSX amid record trades as investor weigh bull run in global equities and surging global crude oil prices.

He said that upbeat data on $2.34 billion home remittances in Nov'20, reports of 11 million daily receipts in Roshan Digital Account, Moody's upgrade on blue chip banks and ADB report on likely economic growth to 2.8pc played a catalyst role in bullish close.

Pak Refinery was the volume leader with 57.48 million shares and closed at Rs 22.74 followed by Hascol Petrol that closed at Rs 15.62 with 46.84 million shares. Azgard Nine ranked third with 30.9 million shares and closed at25.75.

Island Textile and Philips Morris Pak were the top gainers increasing by Rs 108.50 and Rs 39.98 respectively to close at Rs 1,596.50 and Rs 1,489.99 respectively. Khyber Tobacco and Otsuka Pak were the top losers declining by Rs 12.04 and Rs 11.50 respectively to close at Rs 400.62 and Rs 300.00.

BR Automobile Assembler Index closed at 8,506.37 points with a net positive change of 132.98 points or a percentage change of 1.59 and a total turnover of 8.346 million. BR Cement Index gained 142.86 points to close at 6,214.59 points with a total turnover of 59.898 million shares.

BR Commercial Banks Index surged by 103.43 points to close at 8,841.41 points a total turnover of 27.23 million shares. BR Power Generation and Distribution Index closed at 5,131.49 points with a net positive change of 69.87 points or a percentage change of 1.38 and a total turnover of 17.171 million.

BR Oil and Gas Index mounted up by 94.4 points to reach at 4,070.96 points with a total turnover of 64.649 million shares. BR Tech. & Comm. Index closed at 2,355.60 points with a net positive change of 30.3 points or a percentage change of 1.3 and a total turnover of 69.519 million shares.

According to JS analysts local bourse lived high post PDM Lahore rally. Investor took positions in second and third tier stocks where top contributors to total volume were PRL (7.3%), HASCOL (6.0%), ANL (7.5%), PIBTL (1.7%), MLCF (3.4%), TRG (0.5%) and FFL (6.4%), which accumulated to 236 million shares.

E&Ps, Fertilizers and Financial stocks were the major movers of the index where FFC (, OGDC, PPL, ENGRO, BAHL, MCB and UBL added 251 points towards the positive movement.

Analysts at Arif Habib Research said that an unimpressive power show by the opposition parties contributed more to the buoyant investor sentiment than the fundamental drivers that have come to fruition since in the past 30 days.

They said that Pakistan has been scoring high on external front every now and then, especially on account of RDA (Roshan Digital Account) that has reportedly seen healthy influx of $ 150 million and growing success of Naya Pakistan Certificates that offer competitive yields on different tenors to Pakistani expatriates.

International crude oil prices contributed positively to the E&P sector stocks, as did the Fertilizer sector to the KSE100 Index. Cement sector also contributed positively to the potential of opening up of South African market.

Copyright Business Recorder, 2020