BRIndex100 retreats

Pakistan Stock Exchange Wednesday ended on a negative note due to selling in various sectors. BRIndex100 lost 22.25 points or 0.51 percent to close at 4,307.22 points. BRIndex-100 touched intraday high of 4,353.85 and intraday low of 4,303.58 points. Volumes stood at 113.776 million shares.
BRIndex30 gained 8.28 points or 0.04 percent to close at 22,552.02 points with a turnover of 67.928 million shares.
The benchmark KSE-100 index declined by 189.42 points or 0.46 percent to close at 40,704.80 points. Daily trading volumes on the ready counter stood at 124.112 million shares as compared to 132.327 million shares traded Tuesday.
Foreign investors remained net sellers of shares worth $9.7 million. The market capitalization declined by Rs 19 billion to Rs 8.062 trillion. Out of total 363 active scrips, 217 closed in negative, 123 in positive while the value of 23 stocks remained unchanged.
K-Electric was the volume leader with 12.640 million shares. It gained Re 0.26 to close at Rs 5.90 followed by Siddiqsons Tin that increased by Re 0.97 to close at Rs 21.85 with 7.372 million shares.
Colgate Palmolive and Bhanero Textile were the top gainers with Rs 118.90 and Rs 46.25, respectively to close at Rs 2,548.90 and Rs 971.25. Island Textile and Siemens Pak were the top losers with Rs 79.76 and Rs 48.06, respectively to close at Rs 1,515.53 and Rs 913.18.
BR Commercial Banks Index lost 21.21 points or 0.25 percent to close at 8,543.59 points with total turnover of 11.060 million shares.
BR Cement Index declined by 45.86 points or 0.96 percent to close at 4,724.08 points with 14.150 million shares.
BR Oil and Gas Index decreased by 26.51 points or 0.53 percent to close at 4,961.01 points with 8.308 million shares.
BR Tech. & Comm. Index closed at 1,127.69 points, up 0.08 points or 0.01 percent with 7.238 million shares.
BR Power Generation and Distribution Index increased by 98.03 points or 1.6 percent to close at 6,217.88 points with 14.857 million shares.
Ahsan Mehanti at Arif Habib Corporation said that profit-taking continued on concerns for dismal economic outlook. The government resolve to borrow Rs 200 billion to ease pending circular debt crises in the power sector, speculation ahead of the SBP policy rate announcements and upbeat data on fertilizer sales for October 2018 invited mid-session support. He said reports on likely surge in CPI inflation data for November 2018, falling global crude prices and concerns for ongoing foreign outflows played a catalytic role in bearish close at PSX.