Pakistan Stock Exchange Friday witnessed a positive trend on the back of fresh buying in certain sectors on available attractive low levels. BRIndex100 gained 51.23 points or 1.27 percent to 4,087.51 points. BRIndex100 touched intraday high of 4,126.77 and intraday low of 4,030.67 points. Volumes stood at 119.380 million shares.
BRIndex30 increased by 300.92 points or 1.51 percent to 20,259.72 points with a turnover of 87.117 million shares. The benchmark KSE-100 index surged by 422.35 points to 38,645.90 points. Daily trading volumes increased to 139.767 million shares as compared to 92.946 million shares traded Thursday.
The market capitalization increased by Rs 38 billion to Rs 8.242 trillion. Out of total 349 active scrips, 222 closed in positive, only 98 in negative while the value of 29 stocks remained unchanged.
TRG Pak was the volume leader with 17.954 million shares. It gained Re 0.35 to close at Rs 30.57 followed by Pak Elektron that increased by Rs 1.40 to close at Rs 45.40 with 11.333 million shares. Colgate Palmolive and Sapphire Fiber were the top gainers with Rs 51.00 and Rs 33.75, respectively to close at Rs 2,641.00 and Rs 812.50. Nestle Pakistan and Jubilee Life Ins were the top losers with Rs 635.00 and Rs 36.50, respectively to close at Rs 12,065.00 and Rs 693.50.
BR Commercial Banks Index gained 58.86 points or 0.79 percent to close at 7,471.73 points with total turnover of 22.537 million shares. BR Cement Index inched up by 25.04 points or 0.55 percent to close at 4,549.70 points with total volumes 10.624 million shares.
BR Oil and Gas Index closed at 4,876.44 points, up 35.11 points or 0.73 percent with 11.015 million shares. BR Tech. & Comm. Index gained 19.93 points or 1.88 percent to close at 1,082.08 points with 21.016 million shares. BR Power Generation and Distribution Index increased by 53.68 points or 0.88 percent to close at 6,176.89 points with 12.277 million shares.
An analyst at Arif Habib Limited said that the market reflected the excitement that investors had with the expectations from Supreme Court to disqualify or acquit Imran Khan and also the decision about Hudaibiya Mills. Delay in announcement of decision by Court and minute to minute twists and turns in Index levels were carrying investor sentiments. Activity picked pace with dismissal of Court''s decision in favour of PML (N) and continued with Imran Khan''s acquittal coupled with Jahangir Tareen''s ineligibility. Politics undoubtedly dominated the day, and relative calm from PKR Kerb market helped market maintain positive direction.
Besides all the political drama, the day was marked by significant activity from foreign funds due to FTSE rebalancing. Foreigners were seen taking active bids on fundamentally sound scrips. KSE-100 index ended the session at 38,645 points, showing an upside of 422 points.
Sectors driving the market include Fertilizer, Commercial Banks and Oil & Gas.
Scrips that contributed positively include ENGRO (up 61 points), HBL (up 54 points), DAWH (up 37 points), DGKC (up 25 points) and PPL (up 23 points). Stocks that contributed negatively include LUCK (down 38 points), NESTLE (down 30 points), MCB (down 15 points), JLICL (down 9 points) and BAHL (down 6 points).