KARACHI: Pakistan Stock Exchange witnessed bullish trend on second consecutive day and closed on positive note on Friday on the back of continuous buying mainly by local investors in almost all sectors.

BRIndex100 gained 52.08 points or 1.13 percent to close at 4,670.02 points. During the session, the BRIndex100 hit intraday high of 4,681.55 points and intraday low of 4,604.04 points. Total volumes stood at 265.885 million shares.

BRIndex30 increased by 168.89 points or 0.81 percent to close at 20,964.92 points with total daily turnover of 165.840 million shares.

KSE-100 index surged by 487.85 points or 1.10 percent and closed at 44,821.53 points. Trading activities however remained low as daily volumes on ready counter decreased to 334.328 million shares as compared to 388.597 million shares traded on Thursday.

The foreign investors however remained net sellers of shares worth $5.463 million. Total market capitalization increased by Rs 47 billion to Rs 7.794 trillion. Out of total 356 active scrips, 226 closed in positive and 116 in negative while the value of 14 stocks remained unchanged.

Service Fabrics was the volume leader with 34.261 million shares and gained Re 0.77 to close at Rs 11.71 followed by Unity Foods that increased by Rs 1.79 to close at Rs 30.29 with 26.471 million shares. Nestle Pakistan and Highnoon Lab were the top gainers increasing by Rs 50.00 and Rs 42.51 respectively to close at Rs 5900.00 and Rs 617.61 while Wyeth Pak and Pak Tobacco were the top losers declining by Rs 83.25 and Rs 47.17 respectively to close at Rs 1597.75 and Rs 1102.50.

BR Automobile Assembler Index gained 53.64 points or 0.64 percent to close at 8,435.78 points with total turnover of 2.342 million shares.

BR Cement Index increased by 90.48 points or 1.63 percent to close at 5,639.26 points with 16.607 million shares.

BR Commercial Banks Index inched up by 46.34 points or 0.48 percent to close at 9,745.58 points with 22.292 million shares.

BR Power Generation and Distribution Index added 33.78 points or 0.63 percent to close at 5,434.46 points with 6.263 million shares.

BR Oil and Gas Index surged by 91.76 points or 2.46 percent to close at 3,819.09 points with 16.939 million shares.

BR Tech & Comm Index closed at 4,312.74 points, up 10.76 points or 0.25 percent with 67.415 million shares.

Ahsan Mehanti at Arif Habib Corporation said that bullish activity continued on surging global equities and global crude oil prices.

He said FM hints over 5.0 percent growth projections for FY22, strong financial results and investor expectations for release of next IMF tranche amid resumption of $6.0 billion EFF played a catalyst role in bullish close.

Copyright Business Recorder, 2021