KARACHI: Pakistan Stock Exchange Thursday closed on a negative note due to selling by local and foreign investors.
BRIndex100 lost 8.53 points or 0.2 percent to close at 4,346.03 points. BRIndex100 hit intraday high of 4,362.10 and intraday low of 4,299.80 points. Volumes stood at 398.395 million shares.
BRIndex30 decreased by 141.56 points or 0.64 percent to close at 22,082.90 points with a turnover of 266.530 million shares.
The KSE-100 Index declined by 69.89 points or 0.17 percent to close at 41,806.37 points. Trading activity also remained low as daily volumes on ready counter decreased to 434.885 million shares as compared to 582.794 million shares traded on Wednesday.
Foreign investors also remained on selling side and withdrew $3.396 million from Pakistan capital market. Total market capitalization declined by Rs 33 billion to Rs 7.808 trillion. Out of total 423 active scrips, 258 closed in negative and 142 in positive while the value of 23 stocks remained unchanged.
K-Electric was the volume leader with 40.527 million shares however lost Rs 0.03 to close at Rs 4.18 followed by Unity Foods that gained Rs 0.03 to close at Rs 18.04 with 33.183 million shares. Ferozsons Lab and K.S.B. Pumps were the top gainers increasing by Rs 29.28 and Rs 21.49 respectively to close at Rs 419.71 and Rs 308.09 while Nestle Pakistan and Rafhan Maize were the top losers declining by Rs 278.75 and Rs 50.00 respectively to close at Rs 6611.25 and Rs 8350.00.
BR Automobile Assembler Index decreased by 50.52 points or 0.64 percent to close at 7,801.93 points with total turnover of 7.174 million shares.
BR Cement Index gained 21.45 points or 0.36 percent to close at 5,980.79 points with 51.195 million shares.
BR Commercial Banks Index lost 9.25 points or 0.11 percent to close at 8,389.09 points with 32.827 million shares.
BR Power Generation and Distribution Index fell by 36.72 points or 0.73 percent to close at 4,970.33 points with 49.812 million shares.
BR Oil and Gas Index declined by 46.59 points or 1.13 percent to close at 4,071.39 points with 45.646 million shares.
BR Tech. & Comm. Index closed at 1,926.84 points, down 22.67 points or 1.16 percent with 43.357 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower amid thin trade on concerns amid slump in global equities and pressure on futures rollovers. Industrials outperformed on reports over Rs 517 billion petitions to SC to review GIDC levies and rupee stability.
He said political uncertainty and concerns for plunge in textile, cement exports in August 2020 played a catalyst role for negative close.
Copyright Business Recorder, 2020
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