KARACHI: Pakistan Stock Exchange on Friday witnessed a bearish trend and closed in red zone with heavy losses due to selling pressure as investors opted to offload their holdings on available margins.
The benchmark KSE-100 Index plunged by 938.23 points or 0.82 percent and closed at 112,800.93 points. The index hit 114,444.01 points intraday high and 112,813.87 points intraday low.
Trading activity also remained low as daily volumes on ready counter decreased to 455.394 million shares as compared to 787.438 million shares traded on Thursday. The daily traded value on the ready counter declined to Rs 21.524 billion against previous session’s Rs 33.097 billion.
BRIndex100 decreased by 96.22 points or 0.8 percent to close at 11,864.64 points with total daily turnover of 394.251 million shares.
BRIndex30 declined by 314.03 points or 0.88 percent to close at 35,320.75 points with total daily trading volumes of 242.665 million shares.
Foreign investors however remained net buyers of shares worth $445,126. Total market capitalization declined by Rs 70 billion to stand at Rs 13.958 trillion. Out of total 451 active scrips, 219 closed in negative and 173 in positive while the value of 59 stocks remained unchanged.
Pak Int. Bulk Terminal was the volume leader with 35.412 million shares and inched up by Rs 0.02 to close at Rs 8.71 followed by K-Electric that lost Rs 0.04 to close at Rs 4.67 with 24.737 million shares. Ghani Global Glass gained Rs 0.48 to close at Rs 9.15 with 19.830 million shares.
Nestle Pakistan and Supernet Technologies were the top gainers increasing by Rs 48.71 and Rs 43.75 respectively to close at Rs 7,345.84 and Rs 839.36 while Unilever Pakistan Foods and Rafhan Maize Products Company were the top losers declining by Rs 215.00 and Rs 147.67 respectively to close at Rs 22,900.00 and Rs 9,394.33.
An analyst at Topline Securities said that the market opened on a positive note led by LUCK PA, as the company through a notice to exchange announced a stock split where shareholders will get 5 shares for every 1 share held. However, profit taking was observed in the second half of trading session, as investors came in to book their profit the weekend. KSE-100 Index declined to close at 112,801 level (down by 0.82 percent).
Top positive contribution to the index came from LUCK, KTML, SCBPL, TRG and TGL, as they cumulatively contributed plus 162 points to the index. On the other hand CHCC, MCB, ABOT, HBL and PPL lost value to weigh down on the index by minus 300 points.
Traded value wise LUCK (Rs.3.12 billion), DGKC (Rs.899 million), FFC (Rs.855 million), FCCL (Rs.773 million) and PAEL (Rs.767 million) dominated the trading activity.
BR Automobile Assembler Index lost 11.02 points or 0.05 percent to close at 21,871.61 points with total turnover of 5.341 million shares.
BR Cement Index plunged by 263.98 points or 2.08 percent to close at 12,439.00 points with 55.843 million shares.
BR Commercial Banks Index declined by 348.54 points or 1.15 percent to close at 30,088.07 points with 41.779 million shares.
BR Power Generation and Distribution Index inched down by 17.75 points or 0.1 percent to close at 18,557.93 points with 31.951 million shares.
BR Oil and Gas Index decreased by 124.12 points or 1.11 percent to close at 11,106.26 points with 17.864 million shares.
BR Tech. & Comm. Index closed at 5,178.05 points, down 2.71 points or 0.05 percent with 50.948 million shares.
Ahsan Mehanti at Arif Habib Corporation said stocks closed bearish amid dismal data on LSM shrinking 3.73 percent YoY in December 2024 and concerns over foreign outflows at PSX.
He said weak global crude oil prices, uncertainty over outcome of tax reforms ahead of the IMF review to release next tranche under the EFF and weak Pak rupee played a catalytic role in bearish close.
Copyright Business Recorder, 2025
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