BRIndex100 keeps falling

Pakistan Stock Exchange remained under pressure Thursday due to selling in various sectors. BRIndex100 lost 48.67 points or 1.04 percent to close at 4,628.17 points. BRIndex100 touched intraday high of 4,678.78 and intraday low of 4,612.24 points. Volumes stood at 133.087 million shares. BRIndex30 decreased by 322 points or 1.33 percent to close at 23,916.10 points with a turnover of 100.622 million shares.
The benchmark KSE-100 index declined by 368.44 points to 43,072.74 points. Daily trading volumes increased to 163.265 million shares as compared to 142.428 million shares traded Wednesday. The market capitalization decreased by Rs 79 billion to Rs 8.993 trillion. Out of total 349 active scrips, 244 closed in negative, only 80 in positive while the value of 25 stocks remained unchanged.
Azgard Nine was the volume leader with 24.770 million shares. However, it decreased by Re 0.88 to close at Rs 15.96 followed by K-Electric that lost Re 0.12 to close at Rs 6.17 with 9.032 million shares. National Refinery and Faisal Spinning were the top gainers with Rs 15.59 and Rs 13.01, respectively to close at Rs 449.90 and Rs 328.00. Nestle Pakistan and Unilever Foods were the top losers with Rs 376.78 and Rs 150.00, respectively to close at Rs 12,222.22 and Rs 9,350.00.
BR Commercial Banks Index declined by 57.19 points or 0.65 percent to close at 8,686.05 points with total turnover of 6.640 million shares. BR Cement Index decreased by 56.78 points or 0.96 percent to close at 5,861.54 points with 22.355 million shares. BR Oil and Gas Index plunged by 54.87 points or 1.07 percent to close at 5,093.84 points with 6.776 million shares.
BR Tech. & Comm. Index closed at 1,202.84 points, down 9.87 points or 0.81 percent with 15.772 million shares. BR Power Generation and Distribution Index declined by 94.36 points or 1.47 percent to close at 6,317.34 points with 11.688 million shares. Ahsan Mehanti at Arif Habib Corporation said that stocks closed lower on concerns for foreign outflows, uncertainty in global equities and concerns over ongoing political uncertainty. He said economic uncertainty amid surging current account deficit, slowdown in oil sales data for February 2018 and falling global crude prices played a catalyst role in bearish close at PSX.