KARACHI: Pakistan Stock Exchange Friday remained under pressure and closed in deep red due to selling in almost all sectors. Investors remained concerned over spreading coronavirus cases and lockdown in different parts of the country.
BRIndex100 decreased by 89.38 points or 1.85 percent to close at 4,729.90 points. BRIndex100 hit intraday high of 4,839.84 and an intraday low of 4,714.35 points. Volumes stood at 278.316 million shares.
BRIndex30 declined by 679.86 points or 2.73 percent to close at 24,261.09 points with total daily turnover of 165.377 million shares.
The KSE-100 Index plunged by 600.76 points or 1.34 percent and closed at 44,262.35 points. Daily trading volumes on ready counter slightly increased to 293.746 million shares as compared to 280.677 million shares traded Thursday.
Foreign investors also remained net sellers of shares worth $3.974 million. Total market capitalization declined by Rs 93 billion and stood at Rs 7.718 trillion. Out of total 367 active scrips, 273 closed in negative and only 84 in positive while the value of 10 stocks remained unchanged.
Ghani Glo. Hol was the volume leader with 34.820 million shares however declined by Rs 1.70 to close at Rs 38.68 followed by TRG Pak that plunged by Rs 9.71 to close at Rs 168.62 with 26.233 million shares. Island Textile and Sapphire Textile were the top gainers increasing by Rs 143.88 and Rs 63.82 respectively to close at Rs 2062.33 and Rs 915.49 while Philip Morris Pak and National Refinery were the top losers declining by Rs 48.90 and Rs 38.63 respectively to close at Rs 850.00 and Rs 562.38.
BR Automobile Assembler Index declined by 150.55 points or 1.74 percent to close at 8,477.34 points with total turnover of 1.328 million shares.
BR Cement Index decreased by 81.09 points or 1.16 percent to close at 6,884.52 points with 14.404 million shares.
BR Commercial Banks Index lost 39.21 points or 0.45 percent to close at 8,702.43 points with 22.512 million shares.
BR Power Generation and Distribution Index fell by 91.75 points or 1.72 percent to close at 5,247.61 points with 15.194 million shares.
BR Oil and Gas Index closed at 3,777.32 points, down 55.49 points or 1.45 percent with 17.202 million shares.
BR Tech. & Comm. Index plunged by 191.47 points or 4.72 percent to close at 3,867.67 points with 76.057 million shares.
An analyst at Arif Habib Limited said that end of rollover week had a painful impact on market, causing the index to tumble 711 points during the session and closing minus 601 points.
Leveraged stocks, NETSOL, TRG and UNITY which had significant outstanding balance in the DFC open interest created negative sentiment, despite TRG declaring good results with a hefty payout. NETSOL, on the other hand, posted negative earnings for the quarter. Resultantly, NETSOL hit lower circuit.
Besides, selling pressure was observed across the board with
UBL contributing to loss on points table among banking sector stocks with the exception of HBL that maintained level above LDCP.
Sectors contributing to the performance include Technology (down 133 points), Cement (down 60 points), E&P (down 50 points), O&GMCs (down 46 points) and Banks (down 42 points). Stocks that contributed positively to the index include BAHL (up 19 points), HBL (up 14 points), SCBPL (up 6 points), SHFA (up 6 points) and AGP (up 5 points). Stocks that contributed negatively include TRG (down 105 points), HUBC (down 30 points), SYS (down 28 points), NBP (down 24 points) and NRL (down 23 points).
Copyright Business Recorder, 2021