KARACHI: Pakistan Stock Exchange Friday witnessed bearish trend due to selling in almost all sectors as investors opted to offload their holdings on their concerns over depreciating local currency and increasing inflation in the country.
The KSE-100 Index plunged by 599.03 points or 1.29 percent and closed below 46,000 psychological level at 45,749.15 points. Trading activity remained extremely low as daily volumes on ready counter decreased to 192.466 million shares as compared to 269.512 million shares traded on Thursday.
BRIndex100 decreased by 68.24 points or 1.42 percent to close at 4,726.52 points with total daily trading volumes of 151.954 million shares.
BRIndex30 declined by 321.53 points or 1.53 percent to close at 20,644.37 points with total daily turnover of 99.922 million shares.
Foreign investors however remained net buyers of shares worth $557,837. Total market capitalization declined by Rs 82 billion to Rs 7.818 trillion. Out of total 345 active scrips, 236 closed in negative and only 92 in positive while the value of 17 stocks remained unchanged.
Unity Foods was the volume leader with 14.885 million shares and gained Rs 0.83 to close at Rs 29.00 followed by Ghani Glo Hol that inched up by Rs 0.90 to close at Rs 33.09 with 14.548 million shares.
Unilever Foods and Sapphire Textile were the top gainers increasing by Rs 1080.00 and Rs 70.00 respectively to close at Rs 19479.00 and Rs 1300.00 while Colgate Palmolive and Ismail Industries were the top losers declining by Rs 137.49 and Rs 37.85 respectively to close at Rs 2431.01 and Rs 467.15.
Mohammad Waqar Iqbal at JS Global Capital said that the trading session started with lackluster volumes, where thin trading continued in both the trading sessions. Further drop in PKR value against USD, no progress on IMF agreement and no materialization of Saudi assistance are the key reasons that keep sentiments negative from the start of the day.
Total traded volume stood at 192 million shares with UNITY (up 2.9 percent), GGL (up 2.8 percent), BYCO (down 1.4 percent), HUMNL (down 2.1 percent) and TELE (down 2.4 percent) being the highest contributors to the volume.
BR Automobile Assembler Index lost 79.85 points or 0.92 percent to close at 8,624.77 points with total turnover of 1.287 million shares.
BR Cement Index plunged by 156.06 points or 2.5 percent to close at 6,074.82 points with 11.616 million shares.
BR Commercial Banks Index decreased by 64.52 points or 0.64 percent to close at 9,944.82 points with 8.023 million shares.
BR Power Generation and Distribution Index fell by 41.29 points or 0.76 percent to close at 5,373.57 points with 4.250 million shares.
BR Oil and Gas Index declined by 53.49 points or 1.4 percent to close at 3,775.85 points with 7.312 million shares.
BR Tech. & Comm. Index closed at 4,363.35 points, down 106.55 points or 2.38 percent with 37.227 million shares.
Copyright Business Recorder, 2021
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