KARACHI: Pakistan Stock Exchange Tuesday witnessed a bearish trend due to heavy selling from local and foreign investors.
BRIndex100 lost 50.3 points or 1.09 percent to close at 4,552.64 points. BRIndex100 hit intraday high of 4,632.62 and intraday low of 4,545.86 points. Volumes stood at 447.039 million.
BRIndex30 decreased by 301.37 points or 1.3 percent to close at 22,884.24 points with a turnover of 266.043 million shares.
The KSE-100 Index declined by 392.01 points or 0.90 percent to close at 43,282.27 points. Trading activity however improved as daily volumes increased to 503.119 million shares as compared to 463.412 million shares traded Monday.
Foreign investors remained net sellers of shares worth $39.867 million. The market capitalization declined by Rs 46 billion to Rs 7.944 trillion. Out of total 400 active scrips, 241 closed in negative and 140 in positive while the value of 19 stocks remained unchanged.
Unity Foods was the volume leader with 41.327 million shares and gained Rs 1.10 to close at Rs 31.62 followed by K-Electric that lost Rs 0.05 to close at Rs 4.02 with 38.148 million shares. Rafhan Maize and Sapphire Fiber were the top gainers increasing by Rs 100.00 and Rs 39.00 respectively to close at Rs 9450.00 and Rs 1019.00 while Bata Pak and Otsuka Pak were the top losers declining by Rs 40.00 and Rs 24.00 respectively to close at Rs 1490.00 and Rs 301.00.
BR Automobile Assembler Index decreased by 82.47 points or 0.95 percent to close at 8,572.43 points with total turnover of 10.007 million shares.
BR Cement Index declined by 85.26 points or 1.36 percent to close at 6,205.61 points with 23.000 million shares.
BR Commercial Banks Index plunged by 104.82 points or 1.17 percent to close at 8,857.25 points with 40.784 million shares.
BR Power Generation and Distribution Index lost 81.79 points or 1.62 percent to close at 4,969.43 points with 45.964 million shares.
BR Oil and Gas Index closed at 3,952.73 points, down 64.1 points or 1.6 percent with 25.790 million shares.
BR Tech. & Comm. Index lost 11.28 points or 0.43 percent to close at 2,582.95 points with 64.540 million shares.
Danish Ladhani at JS Global Capital said that the KSE-100 Index closed red at 43,282 levels, down 0.9 percent after making a high of 43,912 (up 238 points).
The market remained volatile with selling pressure coming in from the heavyweight banks HBL (down 2.3 percent), MCB (down 2.0 percent) and UBL (down 3.3 percent). Moreover, profit taking was seen in the E&Ps as well where PPL (down 1.9 percent), POL (down 2.5 percent) and OGDC (down 1.7 percent) closed in the negative trajectory.
Furthermore, major activity was seen in the side board stocks where UNITY (up 3.6 percent), KEL (down 1.2 percent), PRL (up 0.2 percent), TRG (up 0.8 percent), PAEL (up 2.1 percent), WTL (up 2.5 percent) and BYCO (up 1.2 percent) cumulatively contributed a total of 201 million shares.
NML (up 1.6 percent) and NCL (up 1.7 percent) in the Textiles closed in the green zone as the investors sentiment boosted on the news that Pakistan's textile sector has received 6-months of export orders in advance.
Copyright Business Recorder, 2020
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