KARACHI: Pakistan Stock Exchange Monday witnessed a mixed trend but closed on a negative note due to selling in various sectors.
BRIndex100 lost 2.52 points or 0.06 percent to close at 4,190.36 points. BRIndex100 hit intraday high of 4,222.14 and intraday low of 4,186.27 points. Volumes stood at 160.985 million shares.
BRIndex30 decreased by 23.96 points or 0.11 percent to close at 21,180.43 points with a turnover of 120.425 million shares.
The KSE-100 Index declined by 64.60 points or 0.16 percent to close at 40,504.75 points. Trading activity remained low as daily volumes on the ready counter decreased to 181.446 million shares as compared to 243.084 million shares traded last Friday. Foreign investors also remained net sellers of shares worth $3.763 million. Total market capitalization declined by Rs 14 billion to Rs 7.451 trillion. Out of total 366 active scrips, 202 closed in negative and 142 in positive while the value of 22 stocks remained unchanged.
K-Electric was the volume leader with 24.905 million shares and gained Rs 0.18 to close at Rs 3.75 followed by Maple Leaf that lost Rs 0.33 to close at Rs 40.03 with 14.488 million shares. Unilever Foods and Island Textile were the top gainers increasing by Rs 249.00 and Rs 107.06 respectively to close at Rs 12749.00 and Rs 1534.59 while Wyeth Pak and Pak Engineering were the top losers declining by Rs 55.52 and Rs 16.41 respectively to close at Rs 1058.77 and Rs 203.01.
BR Automobile Assembler Index lost 18.23 points or 0.23 percent to close at 7,775.40 points with total turnover of 1.756 million shares.
BR Cement Index decreased by 25.42 points or 0.43 percent to close at 5,865.60 points with 24.073 million shares.
BR Commercial Banks Index fell by 11.57 points or 0.14 percent to close at 8,427.77 points with 23.161 million shares.
BR Power Generation and Distribution Index declined by 41.82 points or 0.86 percent to close at 4,913.26 points with 26.573 million shares.
BR Oil and Gas Index closed at 3,691.41 points, down 22.5 points or 0.61 percent with 20.730 million shares.
BR Tech. & Comm. Index lost 10.03 points or 0.52 percent to close at 1,919.24 points with 17.458 million shares.
An analyst at Arif Habib Limited said that investors maintained the same somber view on market which was witnessed on last trading day with the Index oscillating between minus 99 points and plus 221 points, closing the session down 65 points. Banks, E&P and Cement sector stocks kept all the attempts to break free the ceiling despite international crude oil prices posting 2 percent growth during the trading session. Investors also seem perturbed by developing law and order situation in and around the Capital, Islamabad as well as political wrangling between the opposition and the incumbent government. SNGPL recovered from the disdain shown by Investors on the last trading day and after trading below LDCP posted intra-session gains to cross LDCP.
Sectors contributing to the performance include E&P (down 48 points), Textile (down 25 points), Cement (down 16 points), Power (up 19 points) and Banks (up 14 points).
Stocks that contributed positively to the index include UBL (up 20 points), KEL (up 10 points), FFC (up 9 points), FCCL (up 9 points) and HUBC (up 9 points). Stocks that contributed negatively include PPL (down 19 points), OGDC (down 17 points), LUCK (down 17 points), POL (down 9 points) and SYS (down 9 points).
Copyright Business Recorder, 2020
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