KARACHI: Pakistan Stock Exchange Monday remained under pressure and closed on a negative note due to investor concerns over prevailing political situation in the country.
BRIndex100 decreased by 61.14 points or 1.26 percent to close at 4,810.55 points. BRIndex100 hit intraday high of 4,871.69 and an intraday low of 4,781.78 points. Volumes stood at 345.438 million shares.
BRIndex30 declined by 574.78 points or 2.24 percent to close at 25,113.49 points with a turnover of 242.628 million shares.
The KSE-100 Index plunged by 392.06 points or 0.87 percent and closed below 45,000 level at 44,913.57 points. Daily trading volumes on ready counter however increased to 363.097 million shares as compared to 173.522 million shares traded on previous session.
Foreign investors however remained net buyers of shares worth $244,027. Total market capitalization declined by Rs 53 billion to Rs 7.851 trillion. Out of total 379 active scrips, 255 closed in negative and 109 in positive while the value of 15 stocks remained unchanged.
WorldCall Telecom was the volume leader with 101.378 million shares and gained Rs 0.13 to close at Rs 1.69 followed by Byco Petroleum that inched up by Rs 0.17 to close at Rs 10.19 with 24.252 million shares. Mari Petroleum and Rafhan Maize were the top gainers increasing by Rs 46.00 and Rs 44.50 respectively to close at Rs 1615.56 and Rs 9250.00 while Colgate Palmolive and Nestle Pakistan were the top losers declining by Rs 90.00 and Rs 56.82 respectively to close at Rs 2660.00 and Rs 5710.00.
BR Automobile Assembler Index lost 17.42 points or 0.19 percent to close at 9,001.75 points with total turnover of 3.129 million shares.
BR Cement Index decreased by 49.41 points or 0.68 percent to close at 7,215.85 points with 10.477 million shares.
BR Commercial Banks Index fell by 46.67 points or 0.54 percent to close at 8,549.72 points with 23.658 million shares.
BR Power Generation and Distribution Index declined by 69.34 points or 1.26 percent to close at 5,452.46 points with 8.623 million shares.
BR Oil and Gas Index closed at 3,960.20 points, down 17.67 points or 0.44 percent with 8.625 million shares.
BR Tech. & Comm. Index plunged by 173.06 points or 4.37 percent to close at 3,785.15 points with 158.218 million shares.
"Following the turmoil developed over the weekend on the law and order front, the KSE-100 Index dropped by 694 points during the session, however, recovered roundabout 600 points afterwards", an analyst at Arif Habib Limited said.
New Finance Minister taking the charge, helped boost investors' confidence, however, selling pressure kept the recovery in Index in check, he added.
Among Fertilizer sector, EFERT announced financial results with a healthy dividend payout that helped the stock perform.
The Index closed at 44,914 points as against 45,306 points showing a decline of 392 points.
Sectors contributing to the performance include Technology (down 128 points), Banks (down 54 points), Power (down 36 points), Textile (down 33 points) and Cement (down 30 points).
Stocks that contributed positively to the index include MARI (up 29 points), EFERT (up 21 points), ENGRO (up 17 points), ABOT (up 8 points) and HCAR (up 7 points). Stocks that contributed negatively include TRG (down 126 points), HUBC (down 31 points), FFC (down 22 points), HBL (down 19 points) and PSO (down 16 points).
Copyright Business Recorder, 2021
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