KARACHI: Pakistan Stock Exchange Friday witnessed a rangebound activity and after moving both ways, it closed on a negative note due to selling by local and foreign investors.
BRIndex100 lost 7.66 points or 0.18 percent to close at 4,267.47 points. BRIndex100 hit intraday high of 4,282.76 and intraday low of 4,262.20 points. Volumes stood at 195.667 million shares.
BRIndex30 decreased by 82.39 points or 0.37 percent to close at 22,087.19 points with a turnover of 108.098 million shares.
The KSE-100 Index closed at 41,056.22 points, down 25.72 points or 0.06 percent. Trading activity remained low as daily volumes on the ready counter decreased to 238.567 million shares as compared to 544.662 million shares traded Thursday.
Foreign investors also remained on the selling side and withdrew $1.787 million from the Pakistan capital market. Total market capitalization however increased by Rs 8 billion to Rs 7.610 trillion. Out of total 368 active scrips, 201 closed in negative and 155 in positive while the value of 12 stocks remained unchanged.
TRG Pak was the volume leader with 26.254 million shares and increased by Rs 3.17 to close at Rs 63.21 followed by Pak Refinery that gained Rs 0.77 to close at Rs 18.86 with 15.302 million shares. Colgate Palmolive and Philip Morris Pak were the top gainers increasing by Rs 223.14 and Rs 117.37 respectively to close at Rs 3198.39 and Rs 1682.37 while Rafhan Maize and Nestle Pakistan were the top losers declining by Rs 115.00 and Rs 70.00 respectively to close at Rs 8250.00 and Rs 6000.00.
BR Automobile Assembler Index gained 17.21 points or 0.21 percent to close at 8,073.10 points with total turnover of 1.502 million shares.
BR Cement Index decreased by 48.38 points or 0.86 percent to close at 5,582.14 points with 13.391 million shares.
BR Commercial Banks Index lost 6.46 points or 0.08 percent to close at 8,382.65 points with 36.182 million shares.
BR Power Generation and Distribution Index fell by 9.72 points or 0.19 percent to close at 5,159.32 points with 7.120 million shares.
BR Oil and Gas Index closed at 4,160.98 points, down 21.33 points or 0.51 percent with 17.607 million shares.
BR Tech. & Comm. Index increased by 55.76 points or 3.13 percent to close at 1,837.99 points with 37.912 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed flat on pressure in scrips across the board on close of futures rollover week on institutional profit-taking amid economic uncertainty over surging fiscal deficit, export losses in seasonal thunderstorm.
He said pressure in global crude oil prices and concerns for weakening rupee played a catalyst role for bearish close post major earnings announcements at PSX.
Copyright Business Recorder, 2020
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