A bearish trend continued on the Pakistan Stock Exchange on the second consecutive day Tuesday due to selling in various sectors, mainly by local investors. BRIndex100 lost 6.56 points or 0.2 percent to close at 3,310.63 points. BRIndex100 touched intraday high of 3,325.14 and intraday low of 3,299.29 points. Volumes stood at 48.459 million shares.
BRIndex30 decreased by 65.38 points or 0.38 percent to close at 16,928.74 points with a turnover of 34.284 million shares.
The KSE-100 index declined by 76.11 points or 0.24 percent to close at 31,658.12 points. Daily trading volumes on the ready counter slightly improved to 51.288 million shares as compared to 45.785 million shares traded Monday.
Foreign investors however remained net buyers of shares worth $2.7 million. The market capitalization declined by Rs 45 billion to Rs 6.360 trillion. Out of total 314 active scrips, 160 closed in positive, 134 in negative while the value of 20 stocks remained unchanged.
Maple Leaf was the volume leader with 4.733 million shares. However, it lost Re 0.08 to close at Rs 16.94 followed by TRG Pak that gained Re 0.32 to close at Rs 12.17 with 3.819 million shares. Abbott Lab and Atlas Honda Limited were the top gainers with Rs 15.06 and Rs 14.95, respectively to close at Rs 371.73 and Rs 313.95. Nestle Pakistan and Unilever Foods were the top losers with Rs 273.25 and Rs 175.00, respectively to close at Rs 5,555.00 and Rs 5,600.00.
BR Automobile Assembler Index gained 10.07 points or 0.19 percent to close at 5,185.71 points with total turnover of 1.313 million shares.
BR Cement Index lost 25.32 points or 0.93 percent to close at 2,683.51 points with 13.536 million shares.
BR Commercial Banks Index declined by 32.58 points or 0.42 percent to close at 7,796.98 points with 5.698 million shares.
BR Power Generation and Distribution Index decreased by 5.34 points or 0.12 percent to close at 4,347.66 points with 3.860 million shares.
BR Oil and Gas Index closed at 3,663.76 points, down 2.27 points or 0.06 percent with 3.620 million shares.
BR Tech. & Comm. Index inched up by 2.57 points or 0.39 percent to close at 657.99 points with 5.104 million shares.
An analyst at Arif Habib Limited said that the market traded mostly in negative zone with a total loss of 248 points, which narrowed by the end of session close to minus 76 points and closing at 31,658 points.
E&P, Refinery with the exception of O&GMCs contributed to selling pressure. Besides, Cement sector continued the downtrend while leading the volumes on the index. For the past 3 months, except for the rollover week, Cement sector stocks have been coming off gradually. Although the overall volumes registered a notch above 50 million (still anemic), volumes were mainly contributed by Cement Sector (13.5 million), followed by Banks (5.7 million) and Technology (5.1 million). MLCF topped the chart with 4.7 million shares followed by TRG (3.8 million).
Sectors contributing to the performance include Commercial Banks (down 41 points), Tobacco (down 27 points), Cement (down 17 points), Food and Personal Care Products (down 13 points) and E&Ps (down 13 points).
Stocks that contributed positively include POL (up 18 points), ENGRO (up 12 points) and BAFL (up 8 points). Stocks that contributed negatively include PAKT (down 27 points), HBL (down 27 points), PPL (down 19 points), OGDC (down 18 points) and NESTLE (down 13 points).
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