BRIndex100 gains 77.33 points

28 Dec, 2017

Pakistan Stock Exchange (PSX) Wednesday closed with good volumes and healthy gains to the index. BRIndex100 gained 77.33 points or 1.84 percent to close at 4,217.08 points up from 4,193.75 points Tuesday. BRIndex100 touched intraday high of 4,276.50 points and intraday low of 4,193.44 points. Volumes surged to 165.155 million on Wednesday compared to 153.668 million shares on Tuesday.
BRIndex30 increased by 274.58 points or 1.29 percent to 21,518.56 points with a turnover of 116.729 million shares. TRG Pak. was the most traded company in BRIndex30 with a volume of 17.398 million shares. The benchmark KSE-100 index surged by 620.98 points to 40,146.73 points compared to 39,525.75 Tuesday. With aggressive trading activity by investors, daily trading volumes increased to 199.343 million shares against 178.175 million shares traded Tuesday.
Analysts said that E&P stocks were triggered by increase in international crude oil price, whereas cement sector played on low PE multiples. Ahsan Mehanti of Arif Habib Corp. said that stocks closed bullish after investors cheered the appointment of advisor to PM on finance. He said that oil, cement and auto scrips outperformed on rising global crude prices on Opec supply cuts, surging local cement prices over CPEC demand and revision in local auto prices on rupee depreciation. Likely new bond issue to fund up external account and speculations ahead of year close played a catalyst role in bullish close, he added.
The market capitalization increased by Rs 96 billion to Rs 8.462 trillion. Out of total 372 active scrips, 239 closed positive, 115 negative while the value of 18 stocks remained unchanged.
Stocks that contributed significantly to the volumes included TRG, WTL, KEL, BAFL and PAEL contributing 63 million shares, reflecting 32 percent shares of total volumes. TRG Pak Ltd. was the volume leader with 17.398 million shares. It gained Rs 1.07 to close at Rs 30.82. WorldCall Telecom increased by Re 0.15 to close at Rs 2.97 with 14.208 million shares. K-Electric ranked third with 13.311 million shares losing Re 0.06 to Rs 6.27.
Sanofi-Aventis and Wyeth Pak Ltd were the top gainers with Rs 58.07 and Rs 37.45, respectively to close at Rs 1,219.60 and Rs 1,227.25. Bata (Pak) and Abbott Lab were the top losers with Rs 115.67 and Rs 34.95, respectively to reach Rs 2,259.33 and Rs 687.50. BR Commercial Banks Index closed at 7,904.45 with a net positive change of 80.08 points or a percentage change of 1.02 and a total turnover of 22,509,500.
BR Cement Index closed at 4,981.76 with a net positive change of 193.52 points or a percentage change of 4.04 and a total turnover of 18,041,350. BR Oil and Gas Index closed at 4,976.00 with a net positive change of 97.09 points or a percentage change of 1.99 and a total turnover of 10,537,100.
BR Tech. & Comm. Index closed at 1,080.24 with a net positive change of 25.39 points or a percentage change of 2.41 and a total turnover of 33,708,500. BR Power Generation and Distribution Index closed at 6,176.37 with a net positive change of 9.07 points or a percentage change of 0.15 and a total turnover of 18,415,700.

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