Pakistan Stock Exchange Wednesday closed on a negative note due to selling in various sectors, mainly by local investors. BRIndex100 lost 2.96 points or 0.07 percent to close at 4,054.90 points. BRIndex100 touched intraday high of 4,068.55 and an intraday low of 4,040.24 points. Volumes stood at 75.656 million shares.
BRIndex30 decreased by 26.65 points or 0.13 percent to close at 20,722.28 points with a turnover of 46.253 million shares. The KSE-100 index declined by 64.61 points to close at 38,547.76 points. Daily trading volumes on the ready counter increased to 83.084 million shares as compared to 70.809 million shares traded Tuesday.
Foreign investors however remained net buyers of shares worth $2.9 million. The market capitalization declined by Rs 34 billion to Rs 7.859 trillion. Out of total 338 active scrips, 205 closed in negative, 112 in positive while the value of 21 stocks remained unchanged. PTCL was the volume leader with 11.183 million shares. However, lost Re 0.29 to close at Rs 9.36 followed by Bank of Punjab that closed at Rs 13.22, down Re 0.02 with 7.368 million shares. Unilever Foods and Service Ind Limited were the top gainers with Rs 99.00 and Rs 14.69, respectively to close at Rs 7,499.00 and Rs 764.69. Philip Morris Pak and Wyeth Pak were the top losers with Rs 198.75 and Rs 52.95, respectively to close at Rs 3,776.25 and Rs 1,023.77.
BR Commercial Banks Index increased by 48.23 points or 0.57 percent to close at 8,462.45 points with total turnover of 12.996 million shares. BR Cement Index lost 11.92 points or 0.3 percent to close at 3,920.08 points with 12.690 million shares. BR Oil and Gas Index decreased by 16.8 points or 0.36 percent to close at 4,655.78 points with 5.042 million shares.
BR Tech. & Comm. Index closed at 947.06 points, down 11.64 points or 1.21 percent with 21.065 percent. BR Power Generation and Distribution Index declined by 60.47 points or 1.07 percent to close at 5,613.92 points with 4.391 million shares.
An analyst at Arif Habib Limited said that weak sentiment caused the index to remain rangebound. After an initial increase of 54 points, the index fell down by 185 points which was witnessed by close of market. Recovery from lowest level couldn't help close the index in green.
Sector wise, Technology sector topped the chart, followed by Banks and Cement. Poor quarterly sales numbers for North based cement manufacturers caused anxiety amongst investors however, buying activity matched the selling pressure in Cement stocks.
Banks, Autos, OMCs and Steel sectors contributed on the down side to the index.
Stocks that contributed positively include ENGRO (up 37 points), MCB (up 15 points), PPL (up 14 points), UBL (up 9 points) and DAWH (up 7 points). Stocks that contributed negatively include HUBC (down 47 points), SNGP (down 19 points), PMPK (down 13 points), PSO (down 10 points) and SEARL (down 6 points).
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