Pakistan Stock Exchange witnessed bearish trend on the last day of the week due to selling in various sectors. BRIndex100 lost 102.72 points or 2.4 percent to close at 4,181.97 points on Friday. During the session, the BRInex-100 touched an intraday high of 4,312.06 and an intraday low of 4,153.13 points. Total volumes stood at 143.627 million shares.
BRIndex30 decreased by 614.62 points or 2.94 percent to close at 20,278.33 points with total turnover of 110.501 million shares.
Pakistan''s benchmark KSE-100 index declined by 860.77 points or 2.15 percent and closed at 39,226.35 points. Due to selling pressure daily trading volumes increased to 154.094 million shares as compared to 110.529 million shares traded on Thursday.
Total market capitalization declined by Rs 184 billion to Rs 8.066 trillion. Out of total 367 active scrips, 311 closed in negative and only 43 in positive while the value of 13 stocks remained unchanged.
WorldCall Telecom was the volume leader with 9.335 million shares and gained Re 0.04 to close at Rs 1.68 followed by Bank of Punjab that lost Re 0.29 to close at Rs 10.97 with 8.824 million shares. Island Textile and Service Industries were the top gainers increasing by Rs 79.01 and Rs 21.21 respectively to close at Rs 1773.00 and Rs 721.99 while Nestle Pakistan and Bata Pak were the top losers declining by Rs 475.00 and Rs 84.00 respectively to close at Rs 9025.00 and Rs 1795.00.
BR Commercial Banks Index plunged by 150.71 points or 1.79 percent to close at 8,279.53 points with total turnover of 15.647 million shares.
BR Cement Index declined by 138.65 points or 3.21 percent to close at 4,178.53 points with 18.284 million shares.
BR Oil and Gas Index decreased by 93.81 points or 1.81 percent to close at 5,086.63 points with 6.976 million shares.
BR Tech & Comm Index lost 40.42 points or 3.57 percent to close at 1,092.40 points with 19.744 million shares.
BR Power Generation and Distribution Index closed at 5,562.10 points, down 124.14 points or 2.18 percent with 6.109 million shares.
An analyst at Arif Habib Limited said after back to back down sessions, the market saw a virtual blood bath where the index went down 1057 points in the second session. The first session was no different, ending at 746 points down from last day closing.
Besides IMF hinting a ''do-more'' for Pakistan''s economic managers on efforts to stabilize economy and control twin deficits, investors saw another convincing reason in Shahbaz Sharif''s arrest to worry about. Nonetheless, aggressive buying activity was observed in some blue chips close to market close. Scrips of interest include DGKC, LUCK, UBL, and SNGP. OGDC fell significantly despite positive fundamentals and outlook, however, anticipation of an increase in local float caused the concern for some local investors, which resulted in negative price performance.
Sectors contributing to the performance include Banks (down 161 points), E&P (down 119 points), Cement (down 87 points), O&GMCs (down 54 points), Autos (down 53 points).
Stocks that contributed positively include BAFL (up 9 points), EFUG (up 6 points), FFC (up 4 points), APL (up 4 points) and EFERT (up 1 point) while scripts that contributed negatively include UBL (down 62 points), OGDC (down 52 points), PPL (down 45 points), LUCK (down 36 points) and PSO (down 33 points).
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