KARACHI: Pakistan Stock Exchange Wednesday closed on a negative note due to selling in various sectors.

BRIndex100 lost 20.67 points or 0.48 percent to close at 4,288.67 points. BRIndex100 hit intraday high of 4,345.25 and intraday low of 4,276.11 points. Volumes stood at 333.155 million shares.

BRIndex30 closed at 21,877.91 points, up 89.92 points or 0.41 percent with a turnover of 232.974 million shares.

The KSE-100 Index declined by 194.97 points or 0.47 percent to close at 41,186.86 points. Trading activity remained low as daily volumes on ready counter decreased to 368.423 million shares as compared to 481.047 million shares traded Tuesday.

Foreign investors remained net sellers of shares worth $4.079 million. The market capitalization declined by Rs 36 billion to Rs 7.609 trillion. Out of total 415 active scrips, 246 closed in negative and 151 in positive while the value of 18 stocks remained unchanged.

Unity Foods was the volume leader with 60.250 million shares and gained Rs 0.46 to close at Rs 23.17 followed by Pak Int. Bulk Terminal that lost Rs 0.05 to close at Rs 13.26 with 31.266 million shares. Wyeth Pak and Mitchell’s Fruit were the top gainers increasing by Rs 35.00 and Rs 32.93 respectively to close at Rs 950.00 and Rs 472.06 while Indus Motor Co and Sapphire Textile were the top losers declining by Rs 39.21 and Rs 35.89 respectively to close at Rs 1206.95 and Rs 780.12.

BR Automobile Assembler Index decreased by 53.27 points or 0.66 percent to close at 8,006.56 points with total turnover of 7.060 million shares.

BR Cement Index declined by 85.95 points or 1.38 percent to close at 6,145.23 points with 38.683 million shares.

BR Commercial Banks Index lost 71.6 points or 0.85 percent to close at 8,350.18 points with 20.549 million shares. BR Power Generation and Distribution Index surged by 190.81 points or 3.89 percent to close at 5,093.20 points with 34.797 million shares.

BR Oil and Gas Index fell by 21.65 points or 0.57 percent to close at 3,787.12 points with 37.032 million shares.

BR Tech. & Comm. Index closed at 1,834.76 points, down 12.35 points or 0.67 percent with 21.033 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bearish amid slump in global crude oil prices and weak global equities amid second wave surge in Covid pandemic. Banking and Energy stocks outperformed on strong data for power generation, rupee recovery and strong financial results for the quarter. He said investor concerns over hike in gas tariff for industrials, foreign outflows and higher inflation played a catalyst role for bearish close.

Copyright Business Recorder, 2020