KARACHI: The Pakistan Stock Exchange Monday kept the bullish trend of last week and gained 354.06 points to take the tally to historic level of 46938.59 points at closing.
The stocks recorded the highest trading level of 47070.56 points and lowest level of 46584.53 points, with the volume of over 344.15 million shares and value of Rs 19.40 billion. As many as 403 companies were active; of which 193 advanced, 193 declined and 17 remained unchanged.
BoP was the volume leader with 30.22 million shares, adding Rs 0.83 to finish at Rs 18.28. It was followed by Power Cement Ltd with 26 million shares, gaining Rs 0.83 to end at Rs 14.32 and Pak Int. Bulk with 20.58 million shares, gaining Rs 1.86 to close at Rs 39.22.
The top three gainers were Sanofi-Aventis with price per share of 2420.61 (115.26), Bata (Pak) with price per share of 4700 (100) and Siemens Pak share of 1386.57 (65.90).
The top three losers were Rafhan Maize with price per share of 8001 (-199), Service Ind. Ltd with price per share of 1489.84 (-31.41) and Ismail Ind per share of 352.67 (-17.33).
Earlier, the stocks started new week keeping previous week’s bullish trend and added huge 319.31 points in early trading to reach 46903.84 points level in early trading. The PSX remained bullish till midday and gained 320.96 points to reach 46905.49 points level.
Last week, the KSE-100 index continued to trend up in spite of unabated foreign selling ($47m sold during the week). Most of the strong rally in the stocks can be attributed to continued interest from Local Mutual Funds as their buying spree continued during this week as well ($29m bought during the week).
KSE-100 index posted an all time high consecutively for the fourth day. Resultantly, the index gained 1,197 points (2.6%) over the week to close at all time high of 46,584 points, breaking the 46,000 barrier today. Average daily volumes for the outgoing week posted a decrease of 9 percent WoW to 358 million shares while average daily value increased 7 percent WoW to Rs20 billion/$190 million over the week.
Top three gainers over the outgoing week were oil and gas exploration companies, pharmaceuticals and power generation companies, which were up 9.8 percent, 5.1 percent and 3.1 percent, respectively. While top losers were fertiliser, cement and food & personal care products, which declined by 2.5 percent, 1.4 percent and 1.0 percent, respectively.
Foreigners remained net sellers of $46.8m during the week. Oil & gas exploration, cement and banking sectors saw major net selling of $20.8m, $6.3m and $4.4m, respectively while buying was seen in chemicals sector of $1.1m.
