BRIndex-100 depressed

Pakistan Stock Exchange Wednesday remained under heavy pressure due to selling in various stocks. BRIndex100 lost 39.32 points or 0.94 percent to close at 4,146.84 points. BRIndex-100 touched intraday high of 4,187.58 and intraday low of 4,082.97 points. Volumes stood at 128.524 million shares.
BRIndex30 decreased by 161.55 points or 0.76 percent to close at 21,150.09 points with a turnover of 84.873 million shares.
The benchmark KSE-100 index declined by 299.76 points or 0.76 percent to close at 39,303.11 points. Trading activity also remained low as daily volumes on the ready counter decreased to 138.104 million shares as compared to 195.852 million shares traded Tuesday.
The market capitalization declined by Rs 51 billion to Rs 7.875 trillion. Out of total 358 active scrips, 231 closed in negative, 103 in positive while the value of 24 stocks remained unchanged.
Lotte Chemical was the volume leader with 10.625 million shares. It gained Re 0.18 to close at Rs 18.85 followed by Bank of Punjab that inched up by Rs 0.05 to close at Rs 13.11 with 9.901 million shares. Philip Morris Pak and Hinopak Motor were the top gainers with Rs 131.70 and Rs 27.48, respectively to close at Rs 3,284.88 and Rs 577.11. Nestle Pakistan and Bata Pak were the top losers with Rs 341.00 and Rs 38.00, respectively to close at Rs 8,700.00 and Rs 1,542.00.
BR Commercial Banks Index lost 44.47 points or 0.52 percent to close at 8,569.41 points with a turnover of 17.269 million shares.
BR Cement Index increased by 65.41 points or 1.54 percent to close at 4,192.21 points with 20.200 million shares.
BR Oil and Gas Index closed at 4,880.95 points, down 41.72 points or 0.85 percent with 6.973 million shares.
BR Tech. & Comm. Index inched up 0.98 points or 0.09 percent to close at 1,082.73 points with 9.826 million shares.
BR Power Generation and Distribution Index declined by 110.58 points or 1.84 percent to close at 5,893.16 points with 9.175 million shares.
Ahsan Mehanti at Arif Habib Corporation said stocks closed bearish amid thin trade on investor concerns for economic uncertainty amid record surge in external debt to $96.7 billion. Late session recovery witnessed on rumors gripping the investor sentiments at PSX. He said unexpected surge in SBP policy rate, dismal data on cement and oil sales for November 2018 and concerns for ongoing foreign outflows played a catalyst role in bearish close.