KARACHI: Pakistan Stock Exchange Friday witnessed another bearish session and closed in red zone due to selling, mainly by local investors. BRIndex100 lost 46.02 points or 0.97 percent to close at 4,708.77 points. BRIndex100 hit intraday high of 4,765.25 points and intraday low of 4,681.11 points. Volumes stood at 343.695 million shares.

BRIndex30 plunged by 558.39 points or 2.44 percent to close at 22,284.31 points with a turnover of 251.063 million shares.

The KSE-100 Index declined by 223.36 points or 0.49 percent and closed at 45,073.52 points. Trading activity remained low as daily volumes on ready counter decreased to 369.537 million shares as compared to 443.777 million shares traded Thursday.

Foreign investors however remained net buyers of shares worth $167,598. Total market capitalization declined by Rs 41 billion to Rs 7.831 trillion. Out of total 510 active scrips, 351 closed in negative and 146 in positive while the value of 13 stocks remained unchanged.

WorldCall Telecom was the volume leader with 39.708 million shares however lost Rs 0.08 to close at Rs 2.87 followed by Unity Foods that declined by Rs 1.05 to close at Rs 31.91 with 36.178 million shares. Colgate Palmolive and Rafhan Maize were the top gainers increasing by Rs 134.84 and Rs 74.50 respectively to close at Rs 2444.85 and Rs 10,649.50 while Sapphire Fiber and Indus Motor Co were the top losers declining by Rs 60.00 and Rs 56.70 respectively to close at Rs 800.00 and Rs 1143.37.

BR Automobile Assembler Index declined by 134.67 points or 1.52 percent to close at 8,740.22 points with total turnover of 3.209 million shares.

BR Cement Index decreased by 91.89 points or 1.53 percent to close at 5,905.67 points with 15.455 million shares.

BR Commercial Banks Index fell by 62.22 points or 0.66 percent to close at 9,431.04 points with 19.717 million shares.

BR Power Generation and Distribution Index closed at 5,479.12 points, down 0.92 points or 0.02 percent with 19.841 million shares.

BR Oil and Gas Index gained 9.53 percent or 0.26 percent to close at 3,700.19 points with 12.806 million shares.

BR Tech. & Comm. Index lost 59.90 points or 1.25 percent to close at 4,741.16 points with 88.319 million shares.

Maaz Mulla at JS Global Capital said that the downward swing continued as the market made an intraday low of negative 436 points to close at the level of 45,073 level, down 223 points.

Major contribution to traded volume of 370 million shares was from WTL (down 2.7 percent), UNITY (down 3.2 percent), BYCO (down 3.3 percent), HUMNL (down 3.8 percent) and KEL (down 4.4 percent). Major laggards during the trading session were TRG (down 1.5 percent), MCB (down 1.7 percent), CHCC (down 4.6 percent), INDU (down 4.7 percent) and FFBL (down 5.4 percent) that drove the index downward.

Cement and Banking sector observed selling pressure where FLYNG (down 5.7 percent), CHCC (down 4.6 percent), MLCF (down 3.0 percent), PIOC (down 2.1 percent), DGKC (down 2.0 percent), MCB (down 1.7 percent), MEBL (down 0.9 percent), HBL (down 0.5 percent) and UBL (down 0.2 percent) lost value to close in the negative region.

From the E&P sector OGDC (up 1.0 percent), PPL (up 0.4 percent) and POL (up 0.5 percent) recovered from their recent low as crude oil prices edged higher in the international market.

Copyright Business Recorder, 2021