After witnessing bearish trend during the last three consecutive sessions, Pakistan Stock Exchange Thursday closed in green with healthy gains on the back of fresh buying in oversold market. BRIndex100 gained 43.59 points or 1.2 percent to close at 3,678.98 points. During the session, the BRIndex100 touched an intraday high of 3,693.61 and an intraday low of 3,635.98 points. Total volumes stood at 155.744 million shares.
BRIndex30 increased by 224.87 points or 1.21 percent to close at 18,795.01 points with total turnover of 98.441 million shares. KSE-100 Index surged by 339.79 points or 0.98 percent and closed at 34,995.91 points. Trading activities also improved as daily volumes on ready counter increased to 163.028 million shares as compared to 99.345 million shares traded on Wednesday.
Total market capitalization increased by Rs 44 billion to Rs 7.035 trillion. Out of total 340 active scrips, 225 closed in positive and 101 in negative while the value of 14 stocks remained unchanged.
Summit Bank was the volume leader with 19.374 million shares and closed at Re 0.65, up Re 0.01 followed by WorldCall Telecom that gained Re 0.04 to close at Re 0.79 with 17.183 million shares. Unilever Foods and Sapphire Textile were the top gainers increasing by Rs 229.00 and Rs 60.05 respectively to close at Rs 5399.00 and Rs 1279.98 while Nestle Pakistan and Rafhan Maize were the top losers declining by Rs 149.00 and Rs 65.00 respectively to close at Rs 6700.00 and Rs 6000.00.
BR Commercial Banks Index increased by 64.73 points or 0.79 percent to close at 8,222.51 points with total turnover of 24.261 million shares. BR Cement Index surged by 65.12 points or 2.05 percent to close at 3,235.04 points with 22.426 million shares.
BR Oil and Gas Index gained 40.86 points or 0.99 percent to close at 4,154.09 points with 11.738 million shares. BR Tech & Comm Index inched up by 15.34 points or 1.95 percent to close at 802.15 points with 29.058 million shares.
BR Power Generation and Distribution Index closed at 4,848.84 points, up 26.04 points or 0.54 percent with 13.347 million shares. BR Automobile Assembler Index increased by 127.84 points or 2.2 percent to close at 5,937.44 points with 1.276 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the bullish activity witnessed in oversold market amid bullish trend in global equities and upbeat data on current account deficit shrinking by 29 percent during July-May FY2019 at $12.67 billion. Mid-session pressure remained on weak exports, FDIs and auto sales data in May 2019. He said recovery in global crude prices, reports of likely execution of market support funds next week and surging remittances data in May 2019 played a catalyst role in bullish close.