KARACHI: Despite foreign buying, Pakistan Stock Exchange on Tuesday closed on negative note as the local investors opted to book profit on available margins.

BRIndex100 lost 35.63 points or 0.86 percent to close at 4,097.01 points. During the session, the BRIndex-100 hit an intraday high of 4,188.48 and an intraday low of 4,091.78 points. Total volumes stood at 549.500 million shares.

BRIndex30 decreased by 238.28 points or 1.13 percent to close at 20,898.18 points with total daily turnover of 378.321 million shares.

KSE-100 index declined by 293.99 points or 0.74 percent and closed at 39,577.62 points. Trading activities however improved as daily volumes on ready counter increased to 593.981 million shares as compared to 539.315 million shares traded on Monday.

The foreign investors however remained net buyers of shares worth $1.994 million. Total market capitalization declined by Rs 64 billion to stand at Rs 7.326 trillion. Out of total 422 active scrips, 282 closed in negative and 120 in positive while the value of 20 stocks remained unchanged.

TRG Pak was the volume leader with 45.617 million shares however declined by Rs 3.15 to close at Rs 47.74 followed by Power Cement that gained Re 0.53 to close at Rs 8.73 with 42.781 million shares. Sapphire Fiber and Sapphire Textile were the top gainers increasing by Rs 54.00 and Rs 46.01 respectively to close at Rs 786.00 and Rs 890.00 while Island Textile and Nestle Pakistan were the top losers declining by Rs 81.03 and Rs 40.00 respectively to close at Rs 1012.00 and Rs 6450.00.

BR Automobile Assembler Index lost 11.71 points or 0.15 percent to close at 7,929.86 points with total turnover of 10.421 million shares.

BR Cement Index plunged by 131.26 points or 2.43 percent to close at 5,273.25 points with 100.498 million shares.

BR Commercial Banks Index fell by 34.31 points or 0.42 percent to close at 8,167.71 points with 57.724 million shares.

BR Power Generation and Distribution Index decreased by 8.7 points or 0.18 percent to close at 4,831.06 points with 30.089 million shares.

BR Oil and Gas Index closed at 3,942.35 points, down 51.51 points or 1.29 percent with 40.822 million shares.

BR Tech & Comm Index declined by 73.64 points or 4.47 percent to close at 1,573.48 points with 64.866 million shares.

Danish Ladhani at JS Global Capital said the KSE-100 index closed at 39,577, down 0.7 percent, after making a high and low of plus 459 points and 343 points.

The index started strong but succumbed to profit taking in the second half where majorly LUCK (down 2.8 percent), KOHC (down 3.4 percent), CHCC (down 2.4 percent), DGKC (down 3.9 percent), OGDC (down 1.9 percent), and POL (down 1.3 percent) in the Cements and E&Ps closed in the negative trajectory.

Oil, in the international market, slid amid concerns that a recent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparked. Furthermore, FFC (down 1.2 percent), LUCK (down 2.8 percent), MCB (down 0.2 percent), OGDC (down 1.9 percent) and POL (down 1.3 percent) were the major index shakers.

Copyright Business Recorder, 2020