KARACHI: Pakistan Stock Exchange Thursday again nosedived due to panic selling in almost all sectors on investors concerns over prevailing political situation in the country.
BRIndex100 fell by 135.1 points or 2.89 percent to close at 4,537.18 points. BRIndex100 hit intraday high of 4,692.63 and intraday low of 4,528.34 points. Volumes stood at 370.188 million shares.
BRIndex30 declined by 882.56 points or 3.72 percent to close at 22,867.10 points with a turnover of 269.596 million shares.
The KSE-100 Index plunged by 911.92 points or 2.09 percent to close below 43,000 level at 42,779.76 points. The KSE-100 Index has lost 3,058 points or 6.7 percent during the last four trading sessions. This is the highest 4-day losing streak after March 18, 2020, when the market fell sharply on fear of the Covid outbreak and the KSE-100 Index touched 63 sessions’ lowest level Thursday.
Daily trading volumes on ready counter increased to 406.100 million shares as compared to 363.243 million shares traded on Wednesday however trading value declined to Rs 17.711 billion against Rs 21.143 billion on previous session.
The market capitalization declined by Rs 184 billion to Rs 7.647 trillion. Out of total 408 active scrips, 351 closed in negative and only 47 in positive while the value of 10 stocks remained unchanged.
Unity Foods was the volume leader with 34.888 million shares however declined by Rs 2.04 to close at Rs 25.29 followed by TRG Pak that plunged by Rs 9.75 to close at Rs 120.33 with 27.086 million shares. Wyeth Pak and Murree Brewery were the top gainers increasing by Rs 26.83 and Rs 20.00 respectively to close at Rs 935.00 and Rs 560.00 while Nestle Pakistan and Sunrays Textile were the top losers declining by Rs 237.50 and Rs 81.75 respectively to close at Rs 5710.50 and Rs 1008.25.
BR Automobile Assembler Index declined by 198.73 points or 2.44 percent to close at 7,950.88 points with total turnover of 4.361 million shares. BR Cement Index decreased by 106.1 points or 1.56 percent to close at 6,715.67 points with 38.100 million shares.
BR Commercial Banks Index fell by 122.34 points or 1.43 percent to close at 8,419.92 points with 21.116 million shares.
BR Power Generation and Distribution Index lost 127.03 points or 2.31 percent to close at 5,372.54 points with 24.734 million shares.
BR Oil and Gas Index closed at 3,909.65 points, down 104.73 points or 2.61 percent with 23.313 million shares.
BR Tech. & Comm. Index plunged by 163.52 points or 4.97 percent to close at 3,125.18 points with 89.735 million shares.
“Yet another bloodbath was witnessed with the KSE-100 Index closing down 912 points at 42,779,” Maaz Mulla at JS Global Capital said.
He said political uncertainty due to Senate elections and fears of any potential measures that might be taken due to recent increase in Covid cases weakened investor sentiment.
OGDC (down 4.3 percent), HBL (down 2.0 percent), LUCK (down 1.7 percent), ENGRO (down 1.5 percent), HUBC (down 1.8 percent), TRG (down 7.5 percent) and SEARL (down 4.8 percent) were among major laggards that dragged the index down by 349 points. Technology and Refinery sectors witnessed heavy selling pressure including NETSOL (down 7.5 percent), AVN (down 7.5 percent), ATRL (down 7.5 percent), PRL (down 7.5 percent) and NRL (down 6.6 percent.
Copyright Business Recorder, 2021
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