KARACHI: Pakistan Stock Exchange Monday remained under pressure due to selling in almost all sectors on uncertainty over the outcome of Pak-IMF talks and falling Pak rupee. BRIndex100 lost 40.71 points or 0.87 percent to close at 4,629.31 points. BRIndex100 hit intraday high of 4,694.55 points and intraday low of 4,614.06 points. Volumes stood at 189.826 million shares.
BRIndex30 plunged by 684.02 points or 3.26 percent to close at 20,280.90 points with total daily turnover of 124.724 million shares.
The KSE-100 Index declined by 192.08 points or 0.43 percent to close at 44,629.45 points. Trading activity remained thin as daily volumes on ready counter decreased to 248.291 million shares as compared to 334.328 million shares traded last Friday.
Foreign investors however remained net buyers of shares worth $78,444. The market capitalization declined by Rs 29 billion to Rs 7.765 trillion. Out of total 330 active scrips, 209 closed in negative and 110 in positive while the value of 11 stocks remained unchanged.
Hum Network was the volume leader with 25.097 million shares and gained Rs 0.18 to close at Rs 6.14 followed by WorldCall Telecom that lost Rs 0.11 to close at Rs 2.28 with 20.839 million shares. Sapphire Textile and Wyeth Pak were the top gainers increasing by Rs 39.55 and Rs 32.24 respectively to close at Rs 1129.00 and Rs 1629.99 while Colgate Palmolive and Systems Limited were the top losers declining by Rs 48.33 and Rs 24.37 respectively to close at Rs 2450.00 and Rs 665.04.
BR Automobile Assembler Index decreased by 35.25 points or 0.42 percent to close at 8,400.53 points with total turnover of 2.492 million shares.
BR Cement Index declined by 74.17 points or 1.32 percent to close at 5,565.09 points with 8.739 million shares.
BR Commercial Banks Index lost 35.95 points or 0.37 percent to close at 9,781.53 points with 21.522 million shares.
BR Power Generation and Distribution Index closed at 5,409.70 points, down 24.76 points or 0.46 percent with 3.983 million shares.
BR Oil and Gas Index increased by 45.44 points or 1.19 percent to close at 3,864.53 points with 29.016 million shares.
BR Tech. & Comm. Index plunged by 178.60 points or 4.14 percent to close at 4,134.14 points with 72.603 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks fell across the board on uncertainty over outcome of Pak IMF talks and slump in rupee. Mid-session support witnessed on surging global crude oil prices and upbeat data on LSM growth at 12.74 percent on year-on-year basis in August 2021.
He said economic uncertainty, surging trade deficit and ongoing political noise played a catalyst role in bearish close.
Copyright Business Recorder, 2021
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