Bearish trend continued on Pakistan Stock Exchange (PSX) due to selling in various sectors. BRIndex100 lost 32.58 points or 0.73 percent to close at 4,420.88 points on Friday. During the session, the BRIndex-100 touched an intraday high of 4,464.04 and an intraday low of 4,401.82 points. Total volumes stood at 73.555 million shares.
BRIndex30 decreased by 184.58 points or 0.82 percent to close at 22,218.16 points with total turnover of 53.952 million shares. Pakistan's benchmark KSE-100 index declined by 246.13 points and closed at 41,623.52 points. Daily trading volumes increased to 82.848 million shares as compared to 56.937 million shares traded on Thursday.
Total market capitalization declined by Rs 37 billion to Rs 8.640 trillion. Out of total 313 active scrips, 218 closed in negative and only 78 in positive while the value of 17 stocks remained unchanged. K-Electric was the volume leader with 5.874 million shares however lost Rs 0.11 to close at Rs 6.01 followed by Sui Southern Gas that gained Rs 0.82 to close at Rs 36.86 with 5.563 million shares. Murree Brewery and Bata Pak were the top gainers increasing by Rs 31.24 and Rs 30.01 respectively to close at Rs 756.49 and Rs 2279.00 while Hinopak Motor and Khyber Tobacco were the top losers declining by Rs 40.92 and Rs 17.44 respectively to close at Rs 1000.00 and Rs 666.56.
BR Commercial Banks Index gained 24.58 points or 0.3 percent to close at 8,355.75 points with total turnover of 10.016 million shares. BR Cement Index declined by 76.43 points or 1.48 percent to close at 5,076.03 points with 11.763 million shares. BR Oil and Gas Index decreased by 22.48 points or 0.42 percent to close at 5,289.50 points with 10.410 million shares.
BR Tech & Comm Index lost 19.27 points or 1.75 percent to close at 1,081.27 points with 5.422 million shares. BR Power Generation and Distribution Index closed at 6,176.63 points, down 63.48 points or 1.02 percent with 8.405 million shares. Maaz Mulla at JS Global Capital said the PSX witnessed another lack luster session, as the index traded between an intraday high of plus 105 points and a low of minus 412 points to close at 41,623 level, down 246 points.
Despite dull activity, market appeared to consolidate as prices have fallen down to attractive levels. Mixed sentiment were witnessed in the banking sector where MCB (up 1.01 percent) and UBL (up 0.64 percent) closed positive, while on the flipside HBL (down 0.44 percent) and NBP (down 0.88 percent) lost value to close in the red.
Cement sector continued its declining trend as heavyweights such as FCCL (down 2.49 percent), LUCK (down 2.26 percent), PIOC (down 0.99 percent) and CHCC (down 1.44 percent) lost value to close in the red zone.
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