Pakistan Stock Exchange Wednesday turned bullish on the back of healthy buying in almost all sectors, mainly by local investors and institutions. BRIndex100 gained 117.98 points or 2.76 percent to close at 4,397.30 points. BRIndex100 touched intraday high of 4,404.69 and intraday low of 4,279.83 points. Volumes stood at 212.399 million shares.
BRIndex30 increased by 646.25 points or 3.06 percent to close at 21,778.62 points with a turnover of 132.987 million shares. The benchmark KSE-100 index surged by 964.92 points or 2.42 percent to close above 40,000 crucial level at 40,897.90 points. Trading activity also improved significantly as daily volumes on the ready counter increased to 247.827 million shares as compared to 141.973 million shares traded Tuesday.
Foreign investors however remained net sellers of shares worth $4 million. The market capitalization increased by Rs 143 billion to Rs 8.418 trillion. Out of total 378 active scrips, 307 closed in positive, only 52 in negative while the value of 19 stocks remained unchanged. Pak Int. Bulk (R) was the volume leader with 19.612 million shares. It closed at Re 0.50 followed by Engro Polymer that increased by Rs 1.40 to close at Rs 30.04 with 10.308 million shares.
Colgate Palmolive and Indus Motor Co were the top gainers with Rs 55.00 and Rs 53.86, respectively to close at Rs 3,249.00 and Rs 1,314.07. Nestle Pakistan and Philip Morris Pak were the top losers with Rs 435.00 and Rs 130.37, respectively to close at Rs 10,485.00 and Rs 2,477.86. BR Commercial Banks Index surged by 203.98 points or 2.35 percent to close at 8,894.50 points with total turnover of 31.172 million shares. BR Cement Index increased by 179.67 points or 4.37 percent to close at 4,288.84 points with 26.695 million shares.
BR Oil and Gas Index gained 87.59 points or 1.75 points to close at 5,102.18 points with 8.868 million shares. BR Tech. & Comm. Index inched up by 57.21 points or 4.95 percent to close at 1,212.26 points with 19.056 million shares. BR Power Generation and Distribution Index closed at 5,775.25 points, up 134.37 points or 2.38 percent with 4.745 million shares.
Maaz Mulla at JS Global Capital said that the bourse concluded on a positive note once again as benchmark KSE-100 index closed 965 points higher at 40,898 levels. Market kicked off positive hitting a day's high of 40,980 points. Major heavyweights namely, HBL (up 3.92 percent), UBL (up 4.48 percent), LUCK (up 4.19 percent), ENGRO (up 2.22 percent) and FFC (up 2.47 percent) cumulatively contributed plus 306 points.
For the second consecutive day the cement sector led optimism at the bourse where DGKC (up 4.96 percent), MLCF (up 5 percent), CHCC (up 5 percent), PIOC (up 5 percent) and KOHC (up 5 percent) all closed at their respective upper circuits.
Investor's interest was witnessed in the banking sector where they took the opportunity of accumulating stocks at attractive valuations. UBL (up 4.48 percent), FABL (up 4.18 percent), HBL (up 3.92 percent), BAHL (up 2.57 percent) and MCB (up 1.08 percent) closed in the green zone. Fertilizer sector closed positive on the back of news that urea prices increased by Rs 50 taking it to a total of Rs 1,630 - 1,640. As a result, EFERT (up 1.42 percent), FFC (up 2.47 percent) and FFBL (up 2.67 percent) closed in the green trajectory.