Pakistan Stock Exchange Thursday opened on a strong positive note but failed to sustain the momentum and closed in the red due to selling in various sectors.
BRIndex100 lost 3.05 points or 0.07 percent to close at 4,465.20 points. BRIndex100 touched intraday high of 4,513.48 and intraday low of 4,458.50 points. Volumes stood at 213.114 million shares.
BRIndex30 decreased by 33.66 points or 0.14 percent to close at 23,347.24 points with a turnover of 151.866 million shares.
The KSE-100 Index declined by 54.33 points or 0.13 percent to close at 42,506.94 points. Daily trading volumes increased to 230.827 million shares as compared to 177.984 million shares traded Wednesday.
The market capitalization declined by Rs 29 billion to Rs 7.939 trillion. Out of total 368 active scrips, 190 closed in negative, 154 in positive while the value of 24 stocks remained unchanged.
Maple Leaf was the volume leader with 27.576 million shares. It gained Re 0.67 to close at Rs 22.92 followed by WorldCall Telecom that lost Re 0.03 to close at Rs 1.20 with 16.497 million shares. Colgate Palmolive and Service Ind Limited were the top gainers increasing by Rs 133.99 and Rs 44.82, respectively to close at Rs 2,583.99 and Rs 859.83.
Pak Tobacco and Siemens Pak were the top losers with Rs 115.00 and Rs 36.34, respectively to close at Rs 2,035.00 and Rs 648.64.
BR Automobile Assembler Index declined by 77.22 points or 1.25 percent to close at 6,078.37 points with total turnover of 2.071 million shares.
BR Cement Index lost 7.45 points or 0.19 percent to close at 3,906.48 points with 79.363 million shares.
BR Commercial Banks Index gained 13.87 points or 0.14 percent to close at 10,177.29 points with 21.857 million shares.
BR Power Generation and Distribution Index fell by 21.31 points or 0.37 percent to close at 5,805.56 points with 6.321 million shares.
BR Oil and Gas Index closed at 4,953.36 points, down 12.66 points or 0.25 percent with 16.651 million shares.
BR Tech. & Comm. Index inched up by 4.43 points or 0.43 percent to close at 1,034.86 points with 34.955 million shares.
Maaz Mulla at JS Global Capital said that the Pakistan equities started the day strong as the market made an intraday high of up 344 points. However, the index came under pressure to make an intraday low of down 122 points to close at 42,507 level.
Heavy participation was witnessed in the cement sector on the anticipation of an increase in the prices of cement bags. PIOC (up 1.6 percent), CHCC (up 2.0 percent) and MLCF (up 3.0 percent) were the major movers of the sector. Moreover Banking and E&P sectors also closed little higher than their previous day close where HBL (up 0.9 percent), BAFL (up 0.8 percent), NBP (up 0.2 percent), MCB (up 0.2 percent), PPL (up 0.1 percent) and POL (up 0.1 percent) all closed in the green zone.
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