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Pakistan Stock Exchange Friday witnessed a bearish trend due to selling in various sectors. BRIndex100 lost 18.09 points or 0.43 percent to close at 4,204.85 points. BRIndex100 touched intraday high of 4,225.17 and intraday low of 4,185.70 points. Volumes stood at 109.137 million shares.

BRIndex30 decreased by 207.74 points or 0.95 percent to close at 21,568.17 points with a turnover of 82.890 million shares. The KSE-100 Index declined by 212.18 points or 0.52 percent to close at 40,243.26 points. Trading activity remained thin as daily volumes on the ready counter decreased to 117.597 million shares as compared to 197.436 million shares traded Thursday.

The market capitalization declined by Rs 65 billion to Rs 7.563 trillion. Out of total 326 active scrips, 211 closed in negative, only 95 in positive while the value of 20 stocks remained unchanged. Pak International Bulk Terminal was the volume leader with 17.542 million shares. It gained Re 0.13 to close at Rs 11.23 followed by Lotte Chemical that lost Re 0.60 to close at Rs 13.78 with 13.141 million shares.

Shezan International and Colgate Palmolive were the top gainers with Rs 22.79 and Rs 22.50, respectively to close at Rs 415.99 and Rs 2,100.00. Pak Tobacco and Sapphire Fiber were the top losers with Rs 136.11 and Rs 48.00, respectively to close at Rs 2,134.00 and Rs 762.00.

BR Automobile Assembler Index declined by 70.63 points or 1.22 percent to close at 5,742.18 points with total turnover of 488,780 shares. BR Cement Index lost 31.42 points or 0.83 percent to close at 3,775.63 points with 9.279 million shares.

BR Commercial Banks Index shed 23.46 points or 0.24 percent to close at 9,717.15 points with 11.865 million shares.

BR Power Generation and Distribution Index fell 20.03 points or 0.36 percent to close at 5,576.15 points with 5.632 million shares.

BR Oil and Gas Index decreased by 43.59 points or 0.97 percent to close at 4,442.35 points with 12.789 million shares.

BR Tech. & Comm. Index closed at 1,008.05 points, down 19.33 points or 1.88 percent with 13.397 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bearish amid thin trade at PSX on investor concerns over economic uncertainty.

He said foreign outflows, dismal data on private sector credit offtake for July-January 2020, weak financial results in cement, steel and concerns over IMF resistance over revised revenue targets and tariff reduction played a catalyst role in bearish close.

Copyright Business Recorder, 2020

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