BRIndex30 increased by 359 points or 2.18 percent to close at 16,824.83 points with a turnover of 67.612 million shares. The KSE-100 Index surged by 487.63 points or 1.60 percent to close at 30,954.83 points. Trading activity also improved as daily volumes on the ready counter increased to 99.661 million shares as compared to 48.205 million shares traded in previous session.
The market capitalization increased by Rs 52 billion to Rs 6.239 trillion. Out of total 346 active scrips, 184 closed in negative, 142 in positive while the value of 20 stocks remained unchanged.
Maple Leaf was the volume leader with 11.505 million shares. However, it lost Re 0.78 to close at Rs 16.45 followed by OGDC that increased by Rs 5.45 to close at Rs 119.01 with 8.795 million shares. Colgate Palmolive and Millat Tractors were the top gainers with Rs 94.99 and Rs 21.06, respectively to close at Rs 1,994.99 and Rs 724.18. Nestle Pakistan and Sapphire Fiber were the top losers with Rs 189.36 and Rs 42.25, respectively to close at Rs 5,619.64 and Rs 802.75.
BR Automobile Assembler Index gained 42.95 points or 0.89 percent to close at 4,848.05 points with total turnover of 999,110 shares.
BR Cement Index decreased by 41.54 points or 1.55 percent to close at 2,636.89 points with 18.117 million shares. BR Commercial Banks Index surged by 175.31 points or 2.4 percent to close at 7,476.64 points with 10.158 million shares.
BR Power Generation and Distribution Index increased by 115.27 points or 2.71 percent to close at 4,371.54 points with 6.498 million shares.
BR Oil and Gas Index closed at 3,424.96 points, up 100.67 points or 3.03 percent with 16.475 million shares.
BR Tech. & Comm. Index lost 0.5 points or 0.08 percent to close at 636.49 points with 11.079 million shares.
Maaz Mulla at JS Global Capital said that market observed a bullish momentum throughout the day making an intraday high of plus 553 points, where KSE-100 Index closed at 30,955 levels, up 488 points.
Major positive contribution came from the oil sector, on the back of rising oil prices on global expectations of output cuts. POL (up 1.3 percent), OGDC (up 4.8 percent) and PPL (up 5.0 percent) from the aforementioned sector contributed to sector gains.
Banking sector heavyweights experienced a stock price hike as well, including UBL (up 2.3 percent), HBL (up 4.7 percent) and MCB (up 3.1 percent). LUCK (down 1.1 percent), DGKC (down 3.0 percent) and MLCF (down 4.5 percent) from the Cement sector recorded losses as profit-booking continued from the last trading day.