After moving both ways, Pakistan Stock Exchange Thursday settled on a negative note due to selling by local and foreign investors.
BRIndex100 lost 15.68 points or 0.37 percent to close at 4,235.76 points. BRIndex100 touched intraday high of 4,266.80 and intraday low of 4,232.54 points. Volumes stood at 101.875 million shares.
BRIndex30 decreased by 116.24 points or 0.54 percent to close at 21,604.29 points with a turnover of 75.667 million shares.
The KSE-100 Index declined by 92.87 points or 0.23 percent to close at 40,481.65 points. Trading activity remained low as daily volumes on the ready counter decreased to 112.084 million shares as compared to 142.964 million shares traded Wednesday.
Foreign investors remained net sellers of shares worth $1.4 million. The market capitalization declined by Rs 12 billion to Rs 7.564 trillion. Out of total 330 active scrips, 183 closed in negative, 129 in positive while the value of 18 stocks remained unchanged.
Hascol Petroleum was the volume leader with 8.775 million shares. However, it lost Re 0.66 to close at Rs 22.47 followed by Bank of Punjab that gained Re 0.28 to close at Rs 13.24 with 8.659 million shares.
Colgate Palmolive and Unilever Foods were the top gainers with Rs 98.33 and Rs 50.00, respectively to close at Rs 2,138.33 and Rs 7,350.00. Otsuka Pak and Bata Pak were the top losers with Rs 23.28 and Rs 20.00, respectively to close at Rs 345.11 and Rs 1,760.00.
BR Automobile Assembler Index lost 28.98 points or 0.49 percent to close at 5,857.98 points with total turnover of 1.697 million shares.
BR Cement Index shed 35.98 points or 0.94 percent to close at 3,776.92 points with 17.023 million shares.
BR Commercial Banks Index fell by 9.54 points or 0.1 percent to close at 9,840.44 points with 15.315 million shares.
BR Power Generation and Distribution Index closed at 5,501.47 points, down 8.52 points or 0.15 percent with 4.256 million shares.
BR Oil and Gas Index declined by 38.23 points or 0.85 percent to close at 4,435.53 points with 12.914 million shares.
BR Tech. & Comm. Index decreased by 9.46 points or 0.92 percent to close at 1,016.07 points with 9.266 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower amid thin trade at PSX on investor concerns over foreign outflows, fiscal risks and prevailing economic uncertainty. Textile and banking stocks outperformed on strong financials and upbeat data on exports.
He said weak financial results in autos, cement and concerns over IMF resistance over revised revenue targets and tariff reduction played a catalytic role in the bearish close.
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