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KARACHI: Pakistan Stock Exchange Monday witnessed panic selling and closed in deep red due to investors' concerns over prevailing political situation in the country.

BRIndex100 lost 105.85 points or 2.44 percent to close at 4,227.96 points. BRIndex100 hit intraday high of 4,346.96 and intraday low of 4,210.47 points. Volumes stood at 375.144 million shares.

BRIndex30 declined by 552.27 points or 2.51 percent to close at 21,449.60 points with a turnover of 256.905 million shares.

The KSE-100 Index plunged by 960.28 points or 2.30 percent and closed below 41,000 level at 40,740.95 points. Daily trading volumes on ready counter decreased to 407.194 million shares as compared to 435.017 million shares traded on previous session.

The foreign investors also remained on selling side and withdrew $1.263 million from Pakistan capital market. Total market capitalization declined by Rs 164 billion to Rs 7.654 trillion. Out of total 418 active scrips, 351 closed in negative and only 57 in positive while the value of 10 stocks remained unchanged.

Hascol Petroleum was the volume leader with 48.688 million shares however declined by Rs 1.41 to close at Rs 20.50 followed by TRG Pak that gained Rs 0.59 to close at Rs 53.03 with 34.543 million shares. Sapphire Textile and Mitchell's Fruit were the top gainers increasing by Rs 42.92 and Rs 24.51 respectively to close at Rs 927.99 and Rs 351.44 while Rafhan Maize and Colgate Palmolive were the top losers declining by Rs 100.00 and Rs 98.99 respectively to close at Rs 8300.00 and Rs 3050.00.

BR Automobile Assembler Index plunged by 233.94 points or 3.03 percent to close at 7,492.36 points with total turnover of 4.110 million shares.

BR Cement Index declined by 203.05 points or 3.46 percent to close at 5,660.71 points with 37.957 million shares.

BR Commercial Banks Index fell by 202.75 points or 2.42 percent to close at 8,187.35 points with 30.702 million shares.

BR Power Generation and Distribution Index decreased by 93.74 points or 1.88 percent to close at 4,901.09 points with 39.426 million shares.

BR Oil and Gas Index lost 66.03 points or 1.62 percent to close at 4,005.02 points with 60.860 million shares.

BR Tech. & Comm. Index closed at 1,856.09 points, down 38.17 points or 2.02 percent with 59.758 million shares.

An analyst at Arif Habib Limited said that last week's rollover session had its trickle down impact on the trading session as well, primarily due to low settlement ratios. On top of it, political uncertainty caused by arrest of opposition leader also caused ripples that resulted in index losing 1056 points during the session.

Cement, O&GMCs, Refinery, Banks saw heavy selling pressure. Technology stocks topped the volumes with 59.7 million shares, followed by O&GMCs (54.6 million shares) and Power (38.4 millino shares).

Sectors contributing to the performance include Banks (down 227 points), Cement (down 137 points), Fertilizer (down 75 points), Textile (down 59 points) and E&P (down 58 points).

Stocks that contributed positively to the index include TRG (up 6 points), EFUG (up 3 points), MTL (up 2 points) and SRVI (up 1 point). Stocks that contributed negatively include HBL (down 79 points), MARI (down 47 points), BAHL (down 44 points), ENGRO (down 37 points) and HUBC (down 35 points).

Copyright Business Recorder, 2020

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