KARACHI: A bearish trend continued on Pakistan Stock Exchange Thursday due to selling by local and foreign investors in almost all sectors.

BRIndex100 lost 26.02 points or 0.54 percent to close at 4,819.28 points. BRIndex100 hit intraday high of 4,858.17 and intraday low of 4,811.93 points. Volumes stood at 265.206 million shares.

BRIndex30 decreased by 137.47 points or 0.55 percent to close at 24,940.95 points 135.473 million shares.

The KSE-100 Index declined by 196.01 points or 0.44 percent to close below 45,000 level at 44,863.11 points. Trading activity remained low as daily volumes on ready counter decreased to 280.677 million shares as compared to 305.760 million shares traded Wednesday.

Foreign investors also remained net sellers of shares worth $1.849 million. The market capitalization declined by Rs 38 billion to Rs 7.811 trillion. Out of total 375 active scrisp, 230 closed in negative and 137 in positive while the value of 8 stocks remained unchanged.

Hascol Petroleum was the volume leader with 43.870 million shares and gained Rs 0.77 to close at Rs 9.58 followed by Ghani Glo. Hol that declined by Rs 3.1 to close at Rs 40.38 with 32.638 million shares. Colgate Palmolive and Gatron Industries were the top gainers increasing by Rs 50.00 and Rs 33.50 respectively to close at Rs 2800.00 and Rs 509.00 while Sapphire Textile and Pak Tobacco were the top losers declining by Rs 48.33 and Rs 46.33 respectively to close at Rs 851.67 and Rs 1383.67.

BR Automobile Assembler Index decreased by 78.35 points or 0.9 percent to close at 8,627.89 points with total turnover of 1.006 million shares.

BR Cement Index declined by 75.42 points or 1.07 percent to close at 6,965.61 points with 10.087 million shares.

BR Commercial Banks Index lost 50.93 points or 0.58 percent to close at 8,741.64 points with 24.917 million shares.

BR Power Generation and Distribution Index plunged by 56.61 points or 1.05 percent to close at 5,339.36 points with 4.935 million shares.

BR Oil and Gas Index gained 6.22 points or 0.16 percent to close at 3,832.81 points with 47.698 million shares.

BR Tech. & Comm. Index fell by 13.32 points or 0.33 percent to close at 4,059.14 points with 56.243 million shares.

Muhammad Mubashir at JS Global Capital said that the pressure sustained on the market in the session amid the current roll-over week. The market closed at 44,863, down by 196 points.

This was after the index had opened on a positive note but could not maintain over 45,000 levels and fell victim to across-the-board profit taking. Overall volumes decreased by 8 percent to 281 million shares. HASCOL (up 8.7 percent), GGL (down 7.1 percent), TELE (down 3.4 percent), TRG (up 0.5 percent) and GGGL (down 2.5 percent) led the volume charts as they cumulatively contributed 45 percent towards the aggregate volumes.

Copyright Business Recorder, 2021