KSE-100 index progresses: BRIndex100 slightly up – Markets

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KARACHI: The Pakistan Stock Exchange experienced a mixed trend on Monday and, after moving both ways, closed on a positive note following further purchases, mostly by local investors.

BRIndex100 gained 30.52 points or 0.65% to close at 4.737.62 points. The BRIndex100 hit an intraday high of 4,748.75 points and an intraday low of 4,660.02 points. Volumes amounted to 221.201 million shares.

BRIndex30 rose 391.29 points or 1.73% to close at 22,981.27 points with total daily revenue of 151.224 million shares.

The KSE-100 index rose 172.80 points or 0.39% and broke through the psychological level of 45,000 to close at 45,044.50 points. Daily trading volumes on the ready meter stood at 267.219 million shares compared to 267.051 million shares traded in the previous session. Foreign investors, however, remained net sellers of shares valued at $ 3.592 million. The total market capitalization increased by 38 billion rupees to 7,846 billion rupees. Out of a total of 545 active scripts, 348 closed positive and 192 closed while the value of 5 shares remained unchanged.

Telecard Limited was the volume leader with 25.662 million shares and rose Rs 1.20 to close at Rs 19.19, followed by WorldCall Telecom which closed at Rs 2.93, up Rs 0.15 with 21.643 million shares.

Rafhan Maize and Colgate Palmolive were the main winners, increasing by Rs 400.00 and Rs 100.01 respectively to close at Rs 10,900.00 and Rs 2,400.00, while Sapphire Textile and Bata Pak were the main losers, falling by Rs 78.75 and Rs 63.33 respectively to close at Rs 971.25 and Rs. 1700.00.

The BR Automobile Assembler index rose 69.08 points or 0.8% to close at 8,754.02 points with total sales of 1.522 million shares.

The BR Cement index fell 34.44 points or 0.58% to close at 5,855.32 points with 8.639 million shares.

The BR Commercial Banks index gained 13.55 points or 0.15% to close at 9,356.51 points with 30.610 million shares.

The BR Power Generation and Distribution index rose 9.95 points or 0.18% to close at 5,497.46 points with 5.544 million shares.

The BR Oil and Gas index lost 10.61 points or 0.28% to close at 3,726.83 points with 9.917 million shares.

BR Tech. & Comm. The index closed at 4,841.38 points, up 101.53 points or 2.14% with 86.932 million shares.

An analyst from Arif Habib Limited said that the increase in foreign capital outflows (due to Pakistan’s reclassification from MSCI EM to MSCI Frontier market) in recent sessions has put additional pressure on the index. Exits from E&P, banks and the fertilizer sector kept local investors poised to experience further declines in these sectors and a reflection of this was seen in PPL, POL, HBL, SYS, EFERT.

The slight rise in NETSOL, TRG and AVN just before the start of trading in Octopus digital, helped the index turn green, which was otherwise down 310 points during the session. The lost points were recovered at the end of the session and added a net gain of 173 points.

Sectors contributing to performance include technology (up 70 points), pharmaceuticals (up 48 points), food (up 21 points), chemicals (up 18 points) and investment banks (up 13 points). Stocks that contributed positively to the index include TRG (up 49 points), SEARL (up 39 points), COLG (up 17 points), AVN (up 17 points) and ENGRO (up increase of 16 points). Stocks that contributed negatively include PPL (down 23 points), LUCK (down 21 points), POL (down 12 points), FFC (down 11 points) and CHCC (down 8 points) ).

Copyright Business Recorder, 2021


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