Aggressive buying increases the index – Markets

KARACHI: Aggressive buying at attractive lows available across all sectors on Tuesday supported the Pakistan Stock Exchange to close on a solid positive note with healthy gains.

The benchmark KSE-100 jumped 572.72 points or 1.32% to close at 43,853.49 points. Trading activity also improved, with daily volumes on the ready meter rising to 229.378 million shares, from 176.913 million shares traded on Monday.

BRIndex100 rose 89.8 points or 2.05% to close at 4,480.97 points with revenue of 198.878 million shares.

BRIndex30 gained 675.57 points or 3.98% to close at 17,641.42 with total daily trading volumes of 114.862 million shares.

Foreign investors, however, remained net sellers of shares valued at $ 496,897. Market capitalization increased by 98 billion rupees to 7,516 billion rupees. Out of a total of 347 active scripts, 247 closed in positive and only 82 in negative while the value of 18 shares remained unchanged.

Telecard Limited was the volume leader with 27.004 million shares and gained Rs 0.79 to close at Rs 14.70 followed by TPL Properties which rose by Rs 2.58 to close at Rs 37.68 with 15.710 million ‘actions.

Unilever Foods and Rafhan Maize were the main winners, increasing by Rs 449.99 and Rs 291.00 respectively to close at Rs 19949.99 and Rs 9800.00 while Allawasaya Textile and Colgate Palmolive were the main losers, decreasing by Rs 202.50 respectively. and Rs 49.99 to close at Rs 2497.50 and Rs. 2450.00.

A Topline Securities analyst said Pakistani stocks ended the session on a positive note, where the benchmark KSE-100 came in at 43,853, up 1.32%.

After a spread opening, the market hit an intraday high of 785 points as investors applauded the flow of news regarding PDM where they postponed their resignations and held “Mahngai March” in March.

On a sectoral level, the initial positivity came from the technology and communications sector where TRG closed to its upper circuit, followed by SYS which contributed 33 points to the KSE-100 index. Meanwhile, investor interest was also showing in the E&P sector due to the rise in international oil prices, where OGDC, PPL and POL closed on a higher note.

The BR Automobile Assembler index gained 50.12 points or 0.6% to close at 8,426.33 points with total sales of 1.182 million shares.

The BR Cement index rose 132.37 points or 2.45% to close at 5,538.91 points with 10.054 million shares.

The BR index of commercial banks rose 27.2 points or 0.27% to close at 10,003.42 points with 12.719 million shares.

The BR Power Generation and Distribution index added 31.54 points or 0.58% to close at 5,432.44 points with 5.854 million shares.

The BR Oil and Gas index closed at 3,729.38 points, up 78.51 points or 2.15% with 30.253 million shares.

BR Tech. & Comm. The index jumped 149.56 points or 4.17 percent to close at 3,738.32 points with 53.438 million shares.

After three consecutive volatile sessions, the bulls made a comeback as the market hit an intraday high of 44,066 points, an analyst with JS Global Capital said.

E&P companies remained in the limelight throughout the day following news of an influx of probable deals, where OGDC and PPL gained 4.2% and 3.8%, respectively . Volumes traded were 229 million shares where TELE (up 5.7%), TPLP (up 7.4%), TREET (up 4.6%), UNITY (up 7.5%) and HASCOL (up 1.2%) together contributed 34% of total volumes. .

Copyright Business Recorder, 2021

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