Profit selling grips PSX: BRIndex100 inches up

BRIndex100 gained 11.55 points or 0.33 percent to close at 3,507.08 points. BRIndex100 touched intraday high of 3,551.78 and intraday low of 3,491.14 points. Volumes stood at 232.169 million shares.

BRIndex30 increased by 153.06 points or 0.85 percent to close at 18,266.20 points with total turnover of 190.765 million shares.

The KSE-100 Index closed at 33,992.75 points, up 76.11 points or 0.22 percent. Trading activity also improved as daily volumes on the ready counter increased to 261.325 million shares as compared to 216.619 million shares traded Monday.

The market capitalization increased by Rs 25 billion to Rs 6.397 trillion. Out of total 341 active scrips, 181 closed in positive, 131 in negative while the value of 29 stocks remained unchanged.

Hascol Petroleum was the volume leader with 33.832 million shares and gained Re 0.68 to close at Rs 15.62 followed by Unity Foods that closed at Rs 12.62, up Re 0.73 with 25.445 million shares. Unilever Foods and Nestle Pakistan were the top gainers with Rs 727.00 and Rs 129.13, respectively to close at Rs 10,577.00 and Rs 5,829.13. Colgate Palmolive and Indus Dyeing were the top losers with Rs 153.10 and Rs 32.83, respectively to close at Rs 2,169.70 and Rs 618.05.

BR Automobile Assembler Index gained 26.91 points or 0.49 percent to close at 5,539.55 points with total turnover of 4.301 million shares.

BR Cement Index decreased 55 points or 1.29 percent to close at 4,204.28 points with 58.496 million shares.

BR Commercial Banks Index lost 27.5 points or 0.4 percent to close at 6,805.36 points with 11.905 million shares.

BR Power Generation and Distribution Index closed at 4,561.29 points, down 4.64 points or 0.1 percent with 11.766 million shares. BR Oil and Gas Index increased by 76.95 points or 2.2 percent to close at 3,578.44 points with 51.947 million shares.

BR Tech. & Comm. Index inched up by 14.62 points or 1.59 percent to close at 934.09 points with 26.969 million shares.

Maaz Mullah at JS Global Capital said that the KSE-100 Index witnessed positive investor sentiment in the session, making an intraday high of plus 469 points. However, profit-booking was witnessed, which dragged the index down to close at 33,993 levels.

E&P sector witnessed heavy participation as crude oil prices recovered in the international market where OGDC (up 1.8 percent), PPL (up 2.5 percent) and POL (up 2.0 percent) were the major movers of the mentioned sector. Pressure was witnessed in the cement sector as investors opted to book profit where PIOC (down 4.7 percent), CHCC (down 4.1 percent), MLCF (down 2.2 percent), DGKC (down 2.0 percent), KOHC (down 2.8 percent) and LUCK (down 0.1 percent) were the major loser of the mentioned sector.

Copyright Business Recorder, 2020

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