KARACHI: Pakistan Stock Exchange Friday closed on a negative note due to selling in various sectors as investors opted to book profits on available margins.

BRIndex100 lost 16.39 points or 0.34 percent to close at 4,847.87 points. BRIndex-100 hit intraday high of 4,882.37 and intraday low of 4,826.13 points. Volumes stood at 371.733 million shares.

BRIndex30 decreased by 119.04 points or 0.48 percent to close at 24,702.16 points with a turnover of 220.429 million shares.

The KSE-100 Index declined by 116.42 points or 0.25 percent to close at 45,868.04 points. Trading activity remained thin as daily volumes on ready counter decreased to 430.628 million shares as compared to 606.380 million shares traded on Thursday.

Foreign investors remained net sellers of shares worth $613,600. Total market capitalization declined by Rs 19 billion to Rs 8.315 trillion. Out of total 391 active scrips, 232 closed in negative and 142 in positive while the value of 17 stocks remained unchanged.

K-Electric was the volume leader with 54.062 million shares however lost Rs 0.14 to close at Rs 4.11 followed by Fauji Foods that gained Rs 0.05 to close at Rs 19.15 with 24.684 million shares. Rafhan Maize and ICI Pakistan were the top gainers increasing by Rs 411.00 and Rs 17.03 respectively to close at Rs 10890.00 and Rs 859.08 while Nestle Pakistan and Mari Petroleum were the top losers declining by Rs 25.00 and Rs 23.52 respectively to close at Rs 6575.00 and Rs 1427.08.

BR Automobile Assembler Index decreased by 40.91 points or 0.48 percent to close at 8,481.46 points with total turnover of 1.611 million shares.

BR Cement Index lost 3.91 points or 0.06 percent to close at 6,280.15 points with 16.213 million shares.

BR Commercial Banks Index closed at 9,522.78 points, down 5.24 points or 0.05 percent with 38.113 million shares.

BR Power Generation and Distribution Index fell by 31.63 points or 0.54 percent to close at 5,809.54 points with 63.401 million shares.

BR Oil and Gas Index plunged by 32.99 points or 0.78 percent to close at 4,183.30 points with 19.638 million shares.

BR Tech. & Comm. Index declined by 11.06 points or 0.36 percent to close at 3,059.34 points with 54.426 million shares.

Danish Ladhani at JS Global Capital said that the KSE-100 Index closed in the negative zone after a rangebound session making a high and a low of plus 132 points and minus 294 points, respectively, nearly 0.3 percent lower than last closing.

Side boards were the main contributors, where KEL (down 3.3 percent), FFL (up 0.3 percent), ICIBL (up 28 percent), PIBTL (up 1.7 percent), FFBL (up 3.1 percent) and TRG (down 2.4 percent) were volume leaders.

The market remained sideways throughout the trading session. Mixed sentiment was seen in Cements where PIOC (up 1.2 percent), POWER (up 0.3 percent), and MLCF (up 0.6 percent) closed in the green zone whereas LUCK (down 0.1 percent), CHCC (down 0.9 percent), DGKC (down 0.4 percent), KOHC (down 1.2 percent) closed in the negative trajectory.

POL (down 0.5 percent), PPL (down 0.9 percent) and OGDC (down 0.7 percent) closed in the negative zone as oil prices plummeted in the international market as China's surging COVID-19 cases trigger clampdowns.

Copyright Business Recorder, 2021