KARACHI: Pakistan Stock Exchange on Thursday ended on negative note as the investors opted to book profit on available margins.
BRIndex100 lost 37.03 points or 0.95 percent to close at 3,871.37 points. During the session, the BRIndex-100 hit an intraday high of 3,936.02 and an intraday low of 3,866.93 points. Total volumes stood at 340.466 million shares.
BRIndex30 decreased by 269.29 points or 1.34 percent to close at 19,852.33 points with total daily turnover of 216.321 million shares.
KSE-100 index declined by 226.40 points or 0.60 percent and closed at 37,578.21 points. Trading activities remained low as daily volumes decreased to 379.281 million shares as compared to 405.508 million shares traded on Wednesday.
The foreign investors remained net sellers of shares worth $1.420 million. Total market capitalization declined by Rs 37 billion to Rs 7.084 trillion. Out of total 403 active scrips, 250 closed in negative and 129 in positive while the value of 24 stocks remained unchanged.
Unity Foods was the volume leader with 38.126 million shares however lost Re 0.16 to close at Rs 12.63 followed by Azgard Nine that gained Re 0.57 to close at Rs 16.33 with 31.223 million shares. Gatron Ind and Millat Tractors were the top gainers increasing by Rs 40.00 and Rs 37.05 respectively to close at Rs 655.00 and Rs 825.41 while Nestle Pakistan and Highnoon (Lab) were the top losers declining by Rs 81.67 and Rs 27.48 respectively to close at Rs 6718.33 and Rs 601.08.
BR Automobile Assembler Index inched up by 1.87 points or 0.03 percent to close at 7,094.45 points with total turnover of 13.688 million shares.
BR Cement Index plunged by 158.99 points or 3.14 percent to close at 4,901.11 points with 30.161 million shares.
BR Commercial Banks Index gained 20.28 points or 0.28 percent to close at 7,373.08 points with 22.298 million shares.
BR Power Generation and Distribution Index declined by 68.63 points or 1.45 percent to close at 4,661.58 points with 31.113 million shares.
BR Oil and Gas Index lost 31.5 points or 0.79 percent to close at 3,949.20 points with 33.104 million shares.
BR Tech. & Comm. Index closed at 1,467.22 points, down 16.82 points or 1.13 percent with 34.079 million shares.
An analyst at Arif Habib Limited said that the market had an exciting session, which resulted in quite some fluctuation between positive and negative throughout the day and closed the session down 226 points.
Selling pressure was mainly observed in Cement, Steel, Pharma and OMCs etc. which caused the market to plunge. Banking sector stocks, MCB, HBL, UBL saw buying activity that helped Index balance a bit, however, selling pressure eroded the gains posted by banking sector stocks.
During the session, market went up by 302 points but lost these gains and declined by 264 points. Textile sector led the volumes with 41.4 million shares, followed by Vanaspati (38.1 million shares) and Technology (34.1 million shares).
Sectors contributing to the performance include Banks (up 21 points), Inv Banks (up 12 points), Cement (down 116 points), Power (down 36 points), E&P (down 30 points), O&GMCs (down 24 points) and Pharma (down 22 points).
Stocks that contributed positively to the index include MTL (up 19 points), MCB (up 18 points), DAWH (up 14 points), INDU (up 9 points) and UBL (up 8 points). Stocks that contributed negatively include LUCK (down 55 points), HUBC (down 36 points), PPL (down 25 points), ENGRO (down 15 points) and DGKC (down 14 points).
Copyright Business Recorder, 2020
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