KARACHI: A bearish trend continued on Pakistan Stock Exchange due to selling in various sectors on Tuesday. BRIndex100 lost 61.31 points or 1.35percent to close at 4,492.79 points. BRIndex100 hit intraday high of 4,578.41 and intraday low of 4,488.71 points. Volumes stood at 424.984 million shares.

BRIndex30 decreased by 325.26 points or 1.43 percent to close at 22,403.75 points with a turnover of 248.949 million shares.

The KSE-100 Index declined by 426.82 points or 0.98 percent to close below 43,000 level at 42,906.94 points. Daily trading volumes on the ready counter further increased to 561.855 million shares as compared to 516.465 million shares traded on Monday. Foreign investors remained net sellers of shares worth $2.550 million. The market capitalization declined by Rs 77 billion to Rs 7.886 trillion. Out of total 411 active scrips, 289 closed in negative and 103 in positive while the value of 19 stocks remained unchanged.

WorldCall Telecom was the volume leader with 70.792 million shares however lost Rs 0.03 to close at Rs 1.14 followed by Invest Bank that gained Rs 0.26 to close at Rs 3.36 with 30.805 million shares. Gillette Pak and Shell Pakistan were the top gainers increasing by Rs 36.55 and Rs 15.58 respectively to close at Rs 523.96 and Rs 266.46 while Rafhan Maize and Service Ind. Limited were the top losers declining by Rs 298.00 and Rs 48.99 respectively to close at Rs 9002.00 and Rs 875.88.

BR Automobile Assembler Index plunged by 232.73 points or 2.73 percent to close at 8,291.03 points with total turnover of 11.939 million shares. BR Cement Index lost 50.3 points or 0.84 percent to close at 5,962.13 points with 25.223 million shares.

BR Commercial Banks Index decreased by 80.79 points or 0.9 percent to close at 8,879.48 points with 35.707 million shares. BR Power Generation and Distribution Index fell by 25.34 points or 0.51 percent to close at 4,963.40 points with 12.371 million shares.

BR Oil and Gas Index closed at 3,990.70 points, down 38.38 points or 0.95 percent with 29.114 million shares.

BR Tech. & Comm. Index declined by 72.43 points or 2.91 percent to close at 2,414.58 points with 152.900 million shares.

Maaz Mulla at JS Global Capital said that the KSE-100 Index closed negative again, losing 427 points to close at 42,907 levels. Volatility prevailed in the market amidst profit-taking due to the rollover week. Selling pressure was witnessed in the technology sector where AVN (down 7.5 percent) and NETSOL (down 7.5 percent) closed at their respective lower locks, while TRG (down 5.6 percent) also closed in the red region. Same trend was witnessed in the refinery sector where NRL (down 7.5 percent), PRL (down 7.0 percent) and ATRL (down 7.5 percent) lost value to close in the negative region.

Copyright Business Recorder, 2020