A bearish trend continued on Pakistan Stock Exchange due to selling in various sectors. BRIndex100 lost 108.07 points or 2.61 percent to close at 4,038.77 points on Thursday. BRIndex100 touched intraday high of 4,167.22 and intraday low of 4,030.64 points. Volumes stood at 179.143 million shares.
BRIndex30 decreased by 442.61 points or 2.09 percent to close at 20,707.48 points with a turnover of 113.851 million shares.
The benchmark KSE-100 index declined by 1,002.48 points or 2.55 percent to close at 38,300.63 points. Daily trading volumes on the ready counter stood at 189.763 million shares as compared to 138.104 million shares traded Wednesday.
Foreign investors remained net sellers of shares worth $0.3 million. The market capitalization declined by Rs 136 billion to Rs 7.739 trillion. Out of total 358 active scrips, 262 closed in negative, only 80 in positive while the value of 16 stocks remained unchanged.
WorldCall Telecom was the volume leader with 20.670 million shares. However, it lost Re 0.08 to close at Rs 1.58 followed by K-Electric that closed at 5.18, down Re 0.14 with 15.544 million shares.
Philip Morris Pak and Unilever Foods were the top gainers with Rs 154.57 and Rs 149.00, respectively to close at Rs 3,439.45 and Rs 7,500.00. Indus Motor Co and Millat Tractors were the top losers with Rs 61.24 and Rs 47.99, respectively to close at Rs 1,173.40 and Rs 911.98.
BR Commercial Banks Index plunged by 254.32 points or 2.97 percent to close at 8,315.09 points with total turnover of 17.855 million shares.
BR Cement Index lost 82.72 points or 1.97 percent to close at 4,109.49 points with 23.597 million shares.
BR Oil and Gas Index decreased by 138.04 points or 2.38 percent to close at 4,742.91 points with 8.758 million shares.
BR Tech. & Comm. Index closed at 1,042.74 points, down 39.99 points or 3.69 percent with 31.852 million shares.
BR Power Generation and Distribution Index lost 117.48 points or 1.99 percent to close at 5,775.68 points with 19.861 million shares.
Maaz Mulla at JS Global Capital said that carnage was witnessed at the local bourse as the KSE-100 index lost 1,002 points to close at 38,301 level. This pressure in the market was on the back of likely redemptions in mutual funds. MCB (down 4.5 percent), PPL (down 3.1 percent), ENGRO (down 3.0 percent), HBL (down 2.6 percent) and PSO (down 4.7 percent) were among major laggards which dragged the index down by 299 points.
Banking space closed lower than its previous day close where big banks dropped 193 points to the declining index. Cement sector remained under the hammer where big players such as PIOC (down 4.7 percent), CHCC (down 2.6 percent), DGKC (down 2.6 percent), FCCL (down 2.1 percent) and LUCK (down 2.1 percent) closed in the red zone.
E&P sector closed in the red zone as crude oil prices edged lower in international market trading at $50.44/bbl. POL (down 2.8 percent), PPL and OGDC (down 1.9 percent) were the major losers.
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