KARACHI: Pakistan Stock Exchange Thursday witnessed a bearish trend and closed on a negative note as investors opted to book profits on available margins.
BRIndex100 lost 40.79 points or 0.94 percent to close at 4,293.52 points. BRIndex100 hit intraday high of 4,371.00 and intraday low of 4,285.37 points. Volumes stood at 473.409 million shares.
BRIndex30 decreased by 343.31 points or 1.55 percent to close at 21,758.65 points with a turnover of 333.604 million shares.
The KSE-100 Index declined by 336.90 points or 0.81 percent to close at 41,199.02 points. Trading activity remained low as daily volumes on ready counter decreased to 500.098 million shares as compared to 661.276 million shares traded on Wednesday.
Foreign investors also remained net sellers of shares worth $1.745 million. Total market capitalization declined by Rs 62 billion to Rs 7.627 trillion. Out of total 408 active scrips, 261 closed in negative and 124 in positive while the value of 23 stocks remained unchanged.
Unity Foods was the volume leader with 61.308 million shares and gained Rs 0.77 to close at Rs 21.77 followed by Pak Int. Bulk Terminal that lost Rs 0.88 to close at Rs 13.08 with 56.291 million shares. Gatron Industries and Khyber Tobacco were the top gainers increasing by Rs 40.00 and Rs 23.96 respectively to close at Rs 700.00 and Rs 343.49 while Bhanero Textile and Mari Petroleum were the top losers declining by Rs 74.99 and Rs 26.65 respectively to close at Rs 925.00 and Rs 1306.37.
BR Automobile Assembler Index gained 6.85 points or 0.09 percent to close at 7,962.67 points with total turnover of 4.681 million shares.
BR Cement Index inched up by 21.53 points or 0.37 percent to close at 5,868.64 points with 73.567 million shares.
BR Commercial Banks Index closed at 8,587.76 points, up 1.24 points or 0.01 percent with 35.648 million shares.
BR Power Generation and Distribution Index plunged by 157 points or 3.16 percent to close at 4,807.79 points with 13.247 million shares.
BR Oil and Gas Index declined by 86.08 points or 2.19 percent to close at 3,845.79 points with 49.435 million shares.
BR Tech. & Comm. Index lost 21.4 points or 1.17 percent to close at 1,807.47 points with 43.971 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bearish amid slump in global equities and uncertainty over FATF decision on exclusion of Pakistan from grey list. Early session support witnessed on rupee recovery amid G20 decision over debt repayment extension and current account surplus for July-September 2020.
He said investors' concerns over political noise, hike in power tariff and weak earnings outlook for the quarter end announcements catalyst role for bearish close.
Copyright Business Recorder, 2020
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