KARACHI: Pakistan Stock Exchange, after witnessing bullish trend during last 13 consecutive sessions, closed on negative note on Wednesday due to selling in various sectors.

BRIndex100 lost 11.5 points or 0.3 percent to close at 3,789.47 points. During the session, the BRIndex-100 hit an intraday high of 3,818.27 and an intraday low of 3,785.11 points. Total volumes stood at 281.559 million shares.

BRIndex30 closed at 19,395.66 points, down 34.16 points or 0.18 percent with total daily turnover of 200.052 million shares.

KSE-100 index fell by 66.19 points or 0.18 percent and closed at 36,679.03 points. Trading activities also remained thin as daily volumes on ready counter decreased to 328.394 million shares as compared to 466.251 million shares traded on Tuesday.

The foreign investors remained net sellers of shares worth $4.502 million. Total market capitalization however increased by Rs 8 billion to Rs 6.933 trillion. Out of total 386 active scrips, 216 closed in negative and 147 in positive while the value of 23 stocks remained unchanged.

Maple Leaf was the volume leader with 33.169 million shares and gained Re 0.82 to close at Rs 31.37 followed by Pak Elektron that inched up by Re 0.02 to close at Rs 30.46 with 27.109 million shares. Bata Pak and Pak Tobacco were the top gainers increasing by Rs 86.82 and Rs 56.91 respectively to close at Rs 1426.69 and Rs 1597.91 while Unilever Foods and Premier Sugar were the top losers declining by Rs 100.00 and Rs 40.58 respectively to close at Rs 9400.00 and Rs 500.54.

BR Automobile Assembler Index gained 41.58 points or 0.64 percent to close at 6,536.56 points with total turnover of 12.654 million shares.

BR Cement Index inched up by 5.57 points or 0.12 percent to close at 4,818.21 points with 54.173 million shares.

BR Commercial Banks Index decreased by 23.19 points or 0.32 percent to close at 7,300.81 points with 34.572 million shares. BR Power Generation and Distribution Index lost 1.38 points or 0.03 percent to close at 4,344.20 points with 11.260 million shares.

BR Oil and Gas Index fell by 7.45 points or 0.19 percent to close at 3,875.45 points with 42.412 million shares.

BR Tech & Comm Index closed at 1,444.54 points, down 6.77 points or 0.47 percent with 34.047 million shares.

Ahsan Mehanti at Arif Habib Corporation said the stocks closed bearish amid pressure on concerns for foreign outflows and rupee instability. Profit taking witnessed in selected scrips across the board after IMF lowered projections for 01 percent growth in FY21 and prevailing economic uncertainty.

Copyright Business Recorder, 2020