KARACHI: Pakistan Stock Exchange Tuesday witnessed a bearish trend due to selling by local and foreign investors in almost all sectors.

BRIndex100 lost 54.99 points or 1.09 percent to close at 4,995.85 points. BRIndex100 hit intraday high of 5,062.01 points and intraday low of 4,957.14 points. Volumes stood at 415.967 million shares.

BRIndex30 declined by 477.35 points or 1.92 percent to close at 24,329.29 points with a turnover of 288.459 million shares.

The KSE-100 Index plunged by 379.12 points or 0.80 percent and closed below 47,000 psychological level at 46,891.34 points. Daily trading volumes on ready counter however increased to 479.793 million shares as compared to 395.836 million shares traded on Monday.

Foreign investors also remained net sellers of shares worth $1.034 million. Total market capitalization declined by Rs 101 billion to Rs 8.175 trillion. Out of total 525 active scrips, 411 closed in negative and 102 in positive while the value of 12 stocks remained unchanged.

Byco Petroleum was the volume leader with 71.674 million shares however lost Rs 0.71 to close at Rs 9.08 followed by Telecard Limited that gained Rs 0.48 to close at Rs 24.36 with 51.432 million shares. Allawasaya Textile and AKD Hospitality were the top gainers increasing by Rs 108.70 and Rs 27.00 respectively to close at Rs 1558.09 and Rs 387.00 while Nestle Pakistan and Bata Pak were the top losers declining by Rs 244.99 and Rs 92.24 respectively to close at Rs 6155.01 and Rs 1701.12.

BR Automobile Assembler Index declined by 107.93 points or 1.15 percent to close at 9,264.83 points with total turnover of 2.362 million shares.

BR Cement Index plunged by 143.41 points or 2.17 percent to close at 6,459.59 points with 22.018 million shares.

BR Commercial Banks Index gained 10.58 points or 0.11 percent to close at 9,543.11 points with 26.253 million shares.

BR Power Generation and Distribution Index lost 11.24 points or 0.2 percent to close at 5,598.77 points with 18.751 million shares.

BR Oil and Gas Index decreased by 43.22 points or 1.11 percent to close at 3,833.30 points with 13.296 million shares.

BR Tech. & Comm. Index closed at 5,137.81 points, down 60.45 points or 1.16 percent with 125.813 million shares.

Maaz Mulla at JS Global Capital said that the KSE-100 Index lost 379 points to close at the level of 46,891. Trading activity was mainly witnessed in side-board items. BYCO (down 7.3 percent), TELE (up 2.0 percent), WTL (down 3.0 percent), ANL (down 0.2 percent) and HUMNL (up 1.3 percent) were the major volume contributors.

Refinery sector was seen in immense pressure as the Cabinet Committee on Energy is said to have not approved the incentives for the refineries and consequently ATRL (down 7.1 percent), NRL (down 6.2 percent), BYCO (down 7.3 percent) and PRL (down 5.5 percent) closed in red zone.

On the other hand, steel sector witnessed similar sentiments where ASL (down 5.8 percent), ASTL (down 3.7 percent), INIL (down 2.6 percent), MUGHAL (down 2.2 percent) and ISL (down 2.3 percent) lost value to close in the negative region.

DGKC (down 3.7 percent) from the cement sector announced financial result for FY21 with 10 percent final cash dividend and an EPS of Rs 8.96 per share.

Copyright Business Recorder, 2021