KSE-100 Index nosedives: BRIndex100 bleeds

Prevailing political situation in the country Thursday invited panic selling on the local bourse and Pakistan Stock Exchange closed in deep red with drastic decline.

BRIndex100 decreased by 106.33 points or 2.45 percent to close at 4,233.62 points. BRIndex100 touched intraday high of 4,355.24 and intraday low of 4,205.49 points. Volumes stood at 223.942 million shares.

BRIndex30 declined by 666.2 points or 2.94 percent to close at 22,012.90 points with a turnover of 159.231 million shares.

The KSE-100 Index plunged by 948.34 points or 2.28 percent to close at 40,655.37 points. Daily trading volumes stood at 260.143 million shares as compared to 276.197 million shares traded Wednesday.

The market capitalization declined by Rs 182 billion to Rs 7.777 trillion. Out of total 364 active scrips, 316 closed in negative, only 33 in positive while the value of 15 stocks remained unchanged.

Unity Foods was the volume leader with 26.395 million shares. It lost Re 0.45 to close at Rs 14.70 followed by Hascol Petrol (R) that declined by Re 1.00 to close at Rs 11.17 with 13.217 million shares. Shifa International Hospital and Shezan International were the top gainers with Rs 15.49 and Rs 5.50, respectively to close at Rs 325.45 and Rs 505.50. Nestle Pakistan and Bata Pak were the top losers with Rs 384.98 and Rs 99.90, respectively to close at Rs 7,475.02 and Rs 1,955.10.

BR Automobile Assembler Index decreased by 82.96 points or 1.31 percent to close at 6,270.75 points with total turnover of 2.659 million shares.

BR Cement Index lost 96.07 points or 2.62 percent to close at 3,576.85 points with 25.900 million shares.

BR Commercial Banks Index plunged by 181.71 points or 1.86 percent to close at 9,583.07 points with 23.655 million shares.

BR Power Generation and Distribution Index declined by 135.22 points or 2.47 percent to close at 5,348.82 points with 11.931 million shares.

BR Oil and Gas Index fell by 134.39 points or 2.78 percent to close at 4,702.38 points with 27.573 million shares.

BR Tech. & Comm. Index closed at 959.07 points, down 37.8 points or 3.79 percent with 19.313 million shares.

Maaz Mulla at JS Global Capital said that Pakistan equities nosedived with the KSE-100 Index shedding 948 points, closing at 40,655 levels, down 2.3 percent.

He said market remained choppy throughout the trading session as the detailed verdict of the high treason case against ex-president Pervez Musharraf was issued.

OGDC (down 2.9 percent), HBL (down 2.6 percent), HUBC (down 2.7 percent), ENGRO (down 1.9 percent), DAWH (down 4.5 percent), FFC (down 1.6 percent), POL (down 2.9 percent), PSO (down 2.7 percent), PPL (down 2.7 percent) and UBL (down 2.1 percent) cumulatively contributed negatively towards the index close.