KARACHI: Pakistan Stock Exchange Thursday opened on a positive note, however could not sustain this momentum and again closed in the red due to profit-taking opted by local investors.
BRIndex100 lost 11.09 points or 0.26 percent to close at 4,210.93 points. BRIndex100 hit intraday high of 4,225.40 and intraday low of 4,157.82 points. Volumes stood at 461.546 million shares.
BRIndex30 however increased by 113.05 points or 0.52 percent to close at 21,855.90 points with a turnover of 331.015 million shares.
The KSE-100 Index declined by 182.44 points or 0.45 percent to close at 40,290.74 points. Trading activity also remained low as daily volumes on the ready counter decreased to 556.146 million shares as compared to 591.172 million shares traded Wednesday.
Foreign investors however remained net buyers of shares worth $2.001 million. The market capitalization declined by Rs 23 billion to Rs 7.434 trillion. Out of total 419 active scrips, 220 closed in negative, 179 in positive while the value of 20 stocks remained unchanged.
Unity Foods was the volume leader with 60.265 million shares. It increased by Re 1.00 to close at 13.90 followed by Hascol Petroleum that gained Re 0.99 to close at Rs 16.50 with 50.870 million shares. Sapphire Fiber and Premier Sugar were the top gainers with Rs 59.00 and Rs 32.00, respectively to close at Rs 871.00 and Rs 550.00. Sapphire Textile and Bata Pak were the top losers with Rs 70.49 and Rs 48.00, respectively to close at Rs 869.50 and Rs 1,600.00.
BR Automobile Assembler Index closed at 7,951.10 points, down 0.06 points with total turnover of 6.422 million shares.
BR Cement Index gained 13.19 points or 0.24 percent to close at 5,504.25 points with 36.100 million shares.
BR Commercial Banks Index decreased by 16.25 points or 0.2 percent to close at 8,253.17 points with 28.022 million shares.
BR Power Generation and Distribution Index increased by 36.6 points or 0.69 percent to close at 5,312.23 points with 30.144 million shares.
BR Oil and Gas Index inched up by 27.52 points or 0.68 percent to close at 4,082.15 points with 84.305 million shares.
BR Tech. & Comm. Index surged by 45.02 points or 2.81 percent to close at 1,648.99 points with 81.137 million shares.
Danish Ladhani at JS Global Capital said that the market opened on a positive note on the opening bell with up 70 points and 2.8 million shares. The index tumbled afterwards as Supreme Court announced the decision on GIDC, which required industries to pay Rs 457 billion on account of GIDC over a period of two years.
Investors took it as cue to book profits, which brought the index down by 575 points during the session. The index staged recovery twice afterwards to erase all the losses but profit booking kept unabated that ended the session down 182 points.
E&P, O&GMCs and Tech stocks largely remained unharmed, among which TRG and UNITY hit upper circuits. Fertilizer, Cement and Banking sector stocks remained under pressure throughout the session. Vanaspati sector led the volumes with 110 million shares, courtesy of UNITY (including the trading volume of its Right Shares). This was followed by Technology (81.1 million shares) and O&GMCs (72.8 million shares).
Sectors contributing to the performance include Fertilizer (down 201 points), Inv Banks (down 27 points), Banks (down 19 points), Textile (down 19 points), Technology (up 31 points), O&GMcs (up 29 points), Power (up 22 points) and E&P (up 18 points).
Stocks that contributed positively to the index include TRG (up 37 points), HUBC (up 22 points), BAHL (up 20 points), SNGP (up 15 points) and HASCOL (up 13 points). Stocks that contributed negatively include FFC (down 114 points), ENGRO (down 44 points), MCB (down 27 points), EFERT (down 26 points) and DAWH (down 24 points).
Copyright Business Recorder, 2020
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