KARACHI: A bullish trend continued on Pakistan Stock Exchange Tuesday on the back of healthy buying, mainly by local investors. BRIndex100 gained 26.97 points or 0.55 percent to close at 4,910.19 points. BRIndex100 hit intraday high of 4,925.17 and intraday low of 4,888.34 points. Volumes stood at 551.504 million shares.

BRIndex30 increased by 243.19 points or 0.97 percent to close at 25,362.75 points with a turnover of 388.556 million shares.

The KSE-100 Index surged by 199.74 points or 0.43 percent to close at 46,287.38 points. Trading activity also improved as daily volumes on ready counter increased to 603.240 million shares as compared to 470.060 million shares traded Monday.

Foreign investors however remained on the selling side and withdrew $2.209 million from Pakistan capital market. Total market capitalization increased by Rs 21 billion to Rs 8.364 trillion. Out of total 413 active scrips, 203 closed in negative and 199 in positive while the value of 11 stocks remained unchanged.

JS Bank was the volume leader with 65.348 million shares however lost Rs 0.25 to close at Rs 7.26 followed by TRG Pak that increased by Rs 3.46 to close at Rs 118.39 with 36.198 million shares. Colgate Palmolive and Nestle Pakistan were the top gainers increasing by Rs 75.01 and Rs 50.00 respectively to close at Rs 3175.00 and Rs 6470.00 while Rafhan Maize and Mitchell’s Fruit were the top losers declining by Rs 390.00 and Rs 32.56 respectively to close at Rs 10500.00 and Rs 439.15.

BR Automobile Assembler Index gained 49.02 points or 0.58 percent to close at 8,537.66 points with total turnover of 8.069 million shares.

BR Cement Index surged by 128.21 points or 2.02 percent to close at 6,474.93 points with 70.623 million shares.

BR Commercial Banks Index lost 29.18 points or 0.31 percent to close at 9,475.90 points with 86.902 million shares.

BR Power Generation and Distribution Index inched up by 2.07 points or 0.04 percent to close at 5,869.47 points with 38.615 million shares.

BR Oil and Gas Index closed at 4,201.08 points, up 33.54 points or 0.8 percent with 46.176 million shares.

BR Tech. & Comm. Index increased by 64.74 points or 2.03 percent to close at 3,259.08 points with 88.624 million shares.

An analyst at Arif Habib Limited said that the market continued the buoyant mood with an increase of 310 points during the session, and ending up 200 points.

Cement sector performed well today on the back of an expectation of increase in Cement price/bag. Similarly, E&P and O&GMCs performed due to an uptick in international crude price as well as a pending decision over revision of OMCs dealer margins, which is expected to be taken in next ECC meeting. Fertilizer sector also performed due to recent price hike in DAP prices. Tech stocks continued rallying, which helped the Index post consistent gains.

Sectors contributing to the performance include Cement (up 94 points), Technology (up 43 points), O&GMCs (up 35 points), Chemical (up 30 points) and E&P (up 22 points).

Stocks that contributed positively to the index include TRG (up 37 points), PSO (up 26 points), PIOC (up 22 points), LUCK (up 21 points) and POL (up 17 points). Stocks that contributed negatively include DAWH (down 15 points), AGP (down 12 points), UBL (down 10 points), FFBL (down 9 points) and BAFL (down 9 points).

Copyright Business Recorder, 2021