After moving both ways, Pakistan Stock Exchange Wednesday closed in deep red due to heavy selling by local and foreign investors. BRIndex100 lost 47.41 points or 1.07 percent to close at 4,401.59 points. BRIndex100 touched intraday high of 4,464.33 and intraday low of 4,393.99 points. Volumes stood at 173.490 million shares.
BRIndex30 decreased by 199.71 points or 0.86 percent to close at 23,083.86 points with a turnover of 137.638 million shares. The KSE-100 Index declined by 400.49 points or 0.95 percent to close at 41.898.70 points. Volumes on the ready counter increased to 197.137 million shares as compared to 189.002 million shares traded Tuesday.
Foreign investors remained net sellers of shares worth $0.4 million. The market capitalization declined by Rs 57 billion to stand at Rs 7.871 trillion. Out of total 353 active scrips, 236 closed in negative, 106 in positive while the value of 11 stocks remained unchanged.
WorldCall Telecom was the volume leader with 22.725 million shares. However, it lost Re 0.07 to close at Rs 1.09 followed by Hascol Petrol that declined by Re 0.52 to close at Rs 24.95 with 17.877 million shares.
Indus Dyeing and Service Ind. Limited were the top gainers with Rs 26.23 and Rs 22.23, respectively to close at Rs 503.23 and Rs 902.23. Siemens Pak and Archroma Pak were the top losers with Rs 35.97 and Rs 34.92, respectively to close at Rs 618.03 and Rs 600.08.
BR Automobile Assembler Index decreased by 67.14 points or 1.08 percent to close at 6,146.46 points with total turnover of 956,810 shares.
BR Cement Index declined by 100.79 points or 2.53 percent to close at 3,887.92 points with 26.155 million shares. BR Commercial Banks Index plunged by 136.38 points or 1.35 percent to close at 9,963.56 points with 23.885 million shares. BR Power Generation and Distribution Index fell by 52.6 points or 0.92 percent to close at 5,695.47 points with 11.319 million shares.
BR Oil and Gas Index lost 12.09 points or 0.25 percent to close at 4,870.95 points with 25.551 million shares. BR Tech. & Comm. Index closed at 1,013.47 points, down 14.25 points or 1.39 percent with 34.275 million shares. Maaz Mulla at JS Global Capital said that the PSX index moved in both directions making an intra-day high of plus 130 points and stooping to a low of minus 508 points, before closing at 41,899 levels, down 400 points.
Major movers of the day were HBL (down 2.3 percent), MCB (down 2.2 percent), UBL (down 1.6 percent), ENGRO (down 1.1 percent), HUBC (down 1.1 percent), LUCK (down 2.7 percent) and DAWH (down 1.7 percent).
Moreover, evident selling pressure was witnessed in the Cement sector, where MLCF (down 3.0 percent), CHCC (down 2.4 percent), PIOC (down 2.4 percent), LUCK (down 2.7 percent) and FCCL (down 2.2 percent) were the major losers of the mentioned sector.
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