Pakistan Stock Exchange Wednesday closed in negative territory due to selling by local and foreign investors. BRIndex100 lost 25.96 points or 0.53 percent to close at 4,890.08 points. BRIndex100 touched intraday high of 4,922.21 and intraday low of 4,885.90 points. Volumes stood at 134.454 million shares.
BRIndex30 decreased by 173.52 points or 0.7 percent to 24,680.46 points with a turnover of 93.833 million shares.
The benchmark KSE-100 index declined by 158.36 points to 45,718.34 points. Due to selling pressure, daily trading volumes on the ready counter increased to 180.707 million shares as compared to 154.282 million shares traded Tuesday.
Foreign investors remained net sellers of shares worth $1.2 million. The market capitalization decreased by Rs 24 billion to Rs 9.425 trillion. Out of total 393 active scrips, 237 closed in negative, 132 in positive, while the value of 24 stocks remained unchanged.
Engro Polymer was the volume leader with 23.849 million shares. It gained Re 0.92 to close at Rs 39.25 followed by Pak Electron that declined by Rs 1.90 to close at Rs 44.06 with 20.390 million shares.
Siemens Pak and Island Textile were the top gainers with Rs 42.97 and Rs 42.75, respectively to close at Rs 1,014.02 and Rs 897.75. Colgate Palmolive and Bata Pak were the top losers with Rs 169.98 and Rs 132.23, respectively to close at Rs 3,280.02 and Rs 2,512.38.
BR Commercial Banks Index lost 28.71 points or 0.31 percent to close at 9,228.79 points with total turnover of 14.089 million shares.
BR Cement Index decreased by 67.36 points or 1.14 percent to close at 5,865.54 points with 11.891 million shares.
BR Oil and Gas Index gained 0.53 points or 0.01 percent to close at 5,560.86 points with 5.109 million shares.
BR Tech. & Comm. Index closed at 1,225.47 points, down 1.73 points or 0.14 percent with 7.441 million shares.
BR Power Generation and Distribution Index plunged by 30.99 points or 0.45 percent to close at 6,788.33 points with 5.040 million shares.
An analyst at Topline Securities said after posting gains for last 2 consecutive trading sessions, market closed down 158 points or 0.35 percent as investor opted for profit-taking.
Cement sector remained the major loser withholding 47 points from the index on rumors of cut in cement prices per bag. E&P sector also dipped withdrawing 29 points from the index as international oil prices were down 1.5 percent. EPCL rallied 2 percent on announcement of anti dumping duties on PVC. On the other hand, PAEL remained under pressure (down 4 percent) due to disappointing first quarter of 2018 financial result.
Top five scrips including HBL (down 1.0 percent), PKGS (down 5.0 percent), COLG (down 4.9 percent), BAFL (down 2.8 percent), and DGKC (down 2.2 percent) contributed 88 points to the index decline whereas stocks including DAWH (up 1.7 percent), HASCOL (up 5.0 percent), MCB (up 1.0 percent), PAKT (up 1.9 percent) and GLAXO (up 4.2 percent) added 70 points to the index gain.
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