BRIndex100 retreats

Pakistan Stock Exchange closed in negative territory due to selling in various sectors at the fag end. BRIndex100 lost 10.95 points or 0.24 percent to close at 4,542.46 points Wednesday. BRIndex100 touched intraday high of 4,565.81 and intraday low of 4,517.23 points. Volumes stood at 109.079 million shares.
BRIndex30 decreased by 149.36 points or 0.65 percent to close at 22,705.88 points with a turnover of 70.129 million shares.
The benchmark KSE-100 index declined by 76.26 points to close at 42,546.48 points. Daily trading volumes increased to 133.730 million shares as compared to 120.301 million shares traded Tuesday.
Foreign investors remained net sellers of shares worth $4.6 million shares. The market capitalization declined by Rs 5 billion to Rs 8.855 trillion. Out of total 338 active scrips, 167 closed in positive, 147 in negative while the value of 24 stocks remained unchanged.
Bank of Punjab was the volume leader with 11.246 million shares. It gained Re 0.15 to close at Rs 12.07 followed by Faysal Bank that increased by Re 0.21 to close at Rs 24.80 with 9.559 million shares.
Island Textile and Indus Dyeing were the top gainers with Rs 43.70 and Rs 23.20, respectively to close at Rs 1,068.70 and Rs 487.30. Unilever Foods and Sanofi-Aventis were the top losers with Rs 434.95 and Rs 23.55, respectively to close at Rs 8,264.05 and Rs 1,180.02.
BR Commercial Banks Index declined by 58.09 points or 0.67 percent to close at 8,574.15 points with a turnover of 31.670 million shares.
BR Cement Index decreased by 50.77 points or 0.99 percent to close at 5,101.07 points with 7.590 million shares.
BR Oil and Gas Index gained 14.46 points or 0.27 percent to close at 5,345.04 points with 4.485 million shares.
BR Tech. & Comm. Index closed at 1,138.53 points, up 19.97 points or 1.79 percent with 11.918 million shares.
BR Power Generation and Distribution Index lost 10.68 points or 0.17 percent to close at 6,279.84 points 5.375 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed lower amid pressure on global equity sell off. Late session support remained in banking and fertilizer stocks amid surge SBP key policy rate last week revising banking spreads, upbeat data on fertilizer off take and FM approvals on release of Rs 4.74 billion fertilizer subsidy. He said weak US crude prices, foreign outflows and investor concerns for economic uncertainty played a catalyst role in bearish close.