KARACHI: Pakistan Stock Exchange Tuesday witnessed a bullish trend on the back of healthy buying by local and foreign investors.

BRIndex100 gained 59.38 points or 1.16 percent to close at 5,180.69 points. BRIndex100 hit intraday high of 5,189.18 points and intraday low of 5,132.07 points. Volumes stood at 369.547 million shares.

BRIndex30 surged by 565.41 points or 2.21 percent to close at 26,192.31 points with a turnover of 222.758 million shares.

The KSE-100 Index increased by 305.07 points or 0.64 percent to close at 47,758.32 points. Trading activity also improved as daily volumes on ready counter increased to 443.213 million shares as compared to 252.345 million shares traded Monday.

Foreign investors also remained net buyers of shares worth $1.285 million. Total market capitalization increased by Rs 48 billion to Rs 8.356 trillion. Out of total 482 active scrips, 335 closed in positive and 120 in negative while the value of 27 stocks remained unchanged.

WorldCall Telecom was the volume leader with 36.354 million shares and gained Rs 0.15 to close at Rs 3.64 followed by Telecard Limited that increased by Rs 1.18 to close at Rs 17.04 with 29.471 million shares. Unilever Foods and Bata Pak were the top gainers increasing by Rs 500.50 and Rs 75.00 respectively to close at Rs 16900.00 and Rs 1625.00 while Nestle Pakistan and Pak Tobacco were the top losers declining by Rs 31.46 and Rs 25.94 respectively to close at Rs 5878.54 and Rs 1256.06.

BR Automobile Assembler Index gained 41.23 points or 0.42 percent to close at 9,862.62 points with total daily volumes of 9.062 million shares.

BR Cement Index increased by 96.23 points or 1.34 percent to close at 7,297.30 points with 24.887 million shares.

BR Commercial Banks Index inched up by 51.65 points or 0.55 percent to close at 9,366.54 points with 14.794 million shares.

BR Power Generation and Distribution Index lost 2.13 points or 0.04 percent to close at 5,593.48 points with 9.513 million shares.

BR Oil and Gas Index closed at 3,989.22 points, up 28.41 points or 0.72 percent with 22.227 million shares.

BR Tech. & Comm. Index surged by 99.56 points or 2.15 percent to close at 4,728.53 points with 117.674 million shares.

An analyst at Arif Habib Limited said that the market continued moving up albeit with an improvement in traded volumes.

O&GMCs, Banks, Refinery, Technology and Textile sectors contributed positively to the index whereas E&P and Steel sector stocks remained under pressure.

Optimism brewed on the back of rupee depreciation that will have positive bearing on the earnings of Textile, Technology and E&P sectors; as well as upcoming financial results.

Sectors contributing to the performance include Cement (up 64 points), Technology (up 63 points), Banks (up 55 points), O&GMCs (up 42 points) and Refinery (up 26 points).

Stocks that contributed positively to the index include TRG (up 51 points), HBL (up 24 points), MEBL (up 21 points), MLCF (up 19 points) and POL (up 17 points). Stocks that contributed negatively include ENGRO (down 10 points), OGDC (down 10 points), HMB (down 9 points), PAKT (down 8 points) and HUBC (down 8 points).

Copyright Business Recorder, 2021