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Home »Stocks and Bonds » Pakistan » KSE-100 Index rallies on FATF: BRIndex100 stays buoyant
Pakistan Stock Exchange Monday witnessed a bullish trend on the back of healthy buying, mainly by local investors in almost all sectors. BRIndex100 gained 78.03 points or 2.24 percent to close at 3,553.91 points. BRIndex100 touched intraday high of 3,583.13 and intraday low of 3,473.29 points. Volumes stood at 360.677 million shares.

BRIndex30 increased by 325.1 points or 1.78 percent to close at 18,585.46 points with a turnover of 237.789 million shares. The KSE-100 Index surged by 603.50 points or 1.83 percent to close at 33,636.82 points. Trading activity improved significantly as daily volumes on the ready counter increased to 392.157 million shares as compared to 261.816 million shares traded Friday.

Foreign investors however remained net sellers of shares worth $2.1 million. The market capitalization increased by Rs 73 billion to Rs 6.626 trillion. Out of total 422 active scrips, 321 closed in positive, only 84 in negative while the value of 17 stocks remained unchanged.

Bank of Punjab was the volume leader with 39.949 million shares. It gained Re 0.70 to close at Rs 9.82 followed by Unity Foods that inched up by Re 0.27 to close at Rs 10.20 with 24.708 million shares. Rafhan Maize and Unilever Foods were the top gainers with Rs 288.99 and Rs 150.00, respectively to close at Rs 6,200.00 and Rs 5,800.00. Philip Morris Pak and Pak Tobacco were the top losers with Rs 159.99 and Rs 93.00, respectively to close at Rs 3,040.00 and Rs 2,307.00.

BR Automobile Assembler Index gained 54.64 points or 1.11 percent to close at 4,990.66 points with total turnover of 3.717 million shares.

BR Cement Index increased by 97.48 points or 3.31 percent to close 3,039.51 points with 44.301 million shares.

BR Commercial Banks Index surged by 180.77 points or 2.33 percent to close at 7,933.29 points with 68.155 million shares. BR Power Generation and Distribution Index inched up by 32.59 points or 0.71 percent to close at 4,631.22 points with 20.668 million shares. BR Oil and Gas Index closed at 3,853.01 points, up 86.95 points or 2.31 percent with 21.214 million shares.

BR Tech. & Comm. Index gained 20.07 points or 2.81 percent to close at 734.91 points with 39.862 million shares. Danish Ladhani at JS Global Capital said that the Pakistan equities market showed relief on the building consensus that FATF is likely to keep Pak in the grey list as there is progress on most of the regulations that the task force wants Pakistan to implement. Moreover, the business community that recently met the COAS and shared their concerns on the economic conditions, was buoyant after their meeting with him.

E&Ps were the major gainers in the trading session where OGDC (up 0.9 percent), PPL (up 2.7 percent) and POL (up 1.7 percent) closed in the positive trajectory. Moreover, in the Financials BAHL (up 3.7 percent), UBL (up 2.4 percent) and MEBL (up 4.0 percent), HBL (up 0.4 percent) and MCB (up 1.2 percent) closed in the positive zone.

Rally was seen in the cements where CHCC (up 5.0 percent) and PIOC (up 5.0 percent) closed in the upper circuit. LUCK (up 3.6 percent) and DGKC (up 4.4 percent) were the major gainers in the aforementioned sector.

Copyright Business Recorder, 2019

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