BRIndex100 drops 18.73 points

Pakistan Stock Exchange Wednesday ended on a negative note due to selling in various sectors.
BRIndex100 lost 18.73 points or 0.42 percent to close at 4,421.31 points. BRIndex100 touched intraday high of 4,455.37 and intraday low of 4,411.80 points. Volumes stood at 189.622 million shares.
BRIndex30 decreased by 187.28 points or 0.8 percent to close at 23,307.13 points with a turnover of 125.571 million shares.
The KSE-100 index declined by 108.71 points or 0.26 percent to close at 41,505.68 points. Trading activity also remained thin as daily volumes on the ready counter decreased to 205.164 million shares as compared to 254.108 million shares traded Tuesday.
Foreign investors however remained net buyers of shares worth $6.4 million. The market capitalization declined by Rs 15 billion to Rs 8.239 trillion. Out of total 373 active scrips, 220 closed in negative, 138 in positive while the value of 15 stocks remained unchanged.
Fauji Cement was the volume leader with 17.542 million shares. It gained Re 0.53 to close at Rs 22.77 followed by Maple Leaf Cement that increased by Rs 1.24 to close at Rs 47.99 with 9.642 million shares.
Rafhan Maize and Unilever were the top gainers with Rs 340.00 and Rs 275.01, respectively to close at Rs 7,150.00 and Rs 7,625.00. Colgate Palmolive and Service Ind Limited were the top losers with Rs 30.00 and Rs 15.00, respectively to close at Rs 1,970.00 and Rs 810.00.
BR Commercial Banks Index declined by 69.98 points or 0.78 percent to close at 8,925.92 points with total turnover of 14.326 million shares.
BR Cement Index gained 26.32 points or 0.59 percent to close at 4,492.80 points with 48.107 million shares.
BR Oil and Gas Index closed at 5,043.93 points, down 39.88 points or 0.78 percent with 6.893 million shares.
BR Tech. & Comm. Index lost 16.16 points or 1.5 percent to close at 1,059.61 points with 10.139 million shares.
BR Power Generation and Distribution Index decreased by 59.64 points or 0.92 percent to close at 6,422.65 points with 6.902 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bearish amid late session profit-taking on investor concerns for economic uncertainty. Autos, fertilizer and cement stocks outperformed as investors weigh upbeat cement dispatch data for Jul-Dec''18, GIDC and auto sector non filers resolve in the mini budget. He said investor concerns over economic outcome of concessions in the mini budget for energy sector amid pending circular debt, foreign outflows and ongoing political noise played a catalyst role in negative close at PSX.