PSX extends losses: BRIndex100 little changed

KARACHI: Pakistan Stock Exchange Thursday witnessed a mixed trend with low trading activities.

BRIndex100 closed at 5,261.62 points, up 3.66 points or 0.07 percent. BRIndex100 hit intraday high of 5,300.50 points and intraday low of 5,247.92 points. Volumes stood at 743.371 million shares.

BRIndex30 gained 83.32 points or 0.3 percent to close at 27,521.35 points with a turnover of 442.496 million shares.

The KSE-100 Index lost 33.37 points or 0.07 percent to close at 48,093.53 points. Trading activity however remained low as daily volumes on ready counter decreased to 889.935 million shares as compared to 1,046.423 million shares traded on Wednesday.

Foreign investors remained net sellers of shares worth $2.502 million. Total market capitalization increased by Rs 16 billion to Rs 8.331 trillion. Out of total 428 active scrips, 229 closed in positive and 172 in negative while the value of 27 stocks remained unchanged.

WorldCall Telecom was the volume leader with 134.991 million shares however lost Rs 0.03 to close at Rs 3.56 followed by F. Nat. Equities closed at Rs 8.92, down Rs 0.76 with 48.146 million shares. Wyeth Pak and Nestle Pakistan were the top gainers increasing by Rs 198.49 and Rs 102.51 respectively to close at Rs 2845.15 and Rs 5688.84 while Unilever Foods and Millat Tractors were the top losers declining by Rs 199.00 and Rs 25.13 respectively to close at Rs 16300.00 and Rs 1091.77.

BR Automobile Assembler Index gained 19.37 points or 0.2 percent to close at 9,542.14 points with total turnover of 10.117 million shares.

BR Cement Index lost 51.92 points or 0.67 percent to close at 7,699.08 points with 38.804 million shares.

BR Commercial Banks Index decreased by 24.1 points or 0.26 percent to close at 9,415.39 points with 48.458 million shares.

BR Power Generation and Distribution Index inched up by 20.58 points or 0.36 percent to close at 5,706.50 points with 21.656 million shares.

BR Oil and Gas Index closed at 4,159.98 points, up 4.9 points or 0.12 percent with 40.883 million shares.

BR Tech. & Comm. Index increased by 64.14 points or 1.48 percent to close at 4,388.16 points with 264.523 million shares.

An analyst at Arif Habib Limited said that the market traded in the positive zone for most part of the session, however, profit booking in Cement, Banks, Textile and E&P sector brought the KSE-100 Index down by 117 points, closing the session minus 33 points.

Among O&GMCs, PSO inched up on the expectation of release of funds, whereas Steel sector performed on the possibility of reduction of duties in the upcoming budget. Technology stocks saw activity in TRG and NETSOL.

Sectors contributing to the performance include Cement (down 45 points), Banks (down 35 points), Fertilizer (down 26 points), Technology (up 42 points) and O&GMCs (up 19 points).

Stocks that contributed positively to the index include TRG (up 44 points), MEBL (up 23 points), PSO (up 12 points), INIL (up 10 points) and SEARL (up 8 points). Stocks that contributed negatively include LUCK (down 48 points), BAHL (down 17 points), MTL (down 16 points), ENGRO (down 16 points) and UNITY (down 15 points).

Copyright Business Recorder, 2021