Bearish trend continued on Pakistan Stock Exchange due to selling mainly by local investors. BRIndex100 lost another 47.17 points and closed at 4,435.33 points on Thursday. During the session, the BRIndex-100 touched an intraday high of 4,493.47 points and an intraday low of 4,426.55 points. Total volume stood at 136.679 million shares.
BRIndex30 decreased by 182.52 points to close at 22,369.58 points with total volume of 84.666 million shares. Pakistan's benchmark KSE-100 index declined by 431.34 points to close at 40,958.65 points with total turnover of 147.33 million shares. Total market capitalization decreased by Rs 87 billion to Rs 8.602 trillion. The foreign investors remained net buyers of shares worth $1.0 million. Out of total 379 active scrips, 302 closed in negative and only 68 in positive while the value of nine stocks remained unchanged.
TRG Pak was the volume leader with 15.830 million shares and increased by Rs 1.33 to close at Rs 38.57 followed by Azgard Nine that lost Re 0.05 to close at Rs 13.56 with 10.987 million shares. Sanofi-Aventis and Khyber Tobacco were the top gainers increasing by Rs 71.85 and Rs 35.69 respectively to close at Rs 1794.35 and Rs 829.90 while Bata Pak and Colgate Palmolive were the top losers declining by Rs 81.99 and Rs 59.93 respectively to close at Rs 2849.00 and Rs 2300.07.
BR Commercial Banks Index decreased by 110.96 points or 1.41 percent to close at 7,747.08 points with total turnover of 29.051 million shares. BR Cement Index declined by 109.56 points or 1.78 percent to close at 6,056.29 points with 10.907 million shares.
BR Oil and Gas Index lost 53.32 points or 1.09 percent to close at 4,818.38 points with 11.321 million shares. BR Tech & Comm Index closed at 1,234.72, down 0.4 points or 0.03 percent with total turnover of 18.065 million shares. BR Power Generation and Distribution Index gained 15.96 points or 0.24 percent to close at 6,732.86 points with total volumes of 6.246 million shares.
Maaz Mulla at JS Global Capital said the market remained range bound during initial hours of the trading session, however bears came to dominate during the second half taking the KSE-100 index to a low of minus 704 points, closing at 40,959 level, down 431 points. Banking and cement sector led the decline as the top laggards for the day included HBL (down 4.62 percent), LUCK (down 0.90 percent), BAHL (down 2.61 percent) and NBP (down 3.39 percent). Oil and Gas Marketing Companies sector also closed negative as compare to last trading session and PSO (down 0.86 percent), SHEL (down 1.51 percent) and SNGP (down 4.73 percent) from the aforementioned sector lost values. However, the bear market did not impact UBL (up 1.08 percent) and MCB (up 0.39 percent) as they gained to close in the green zone. E&P stocks also gained where POL (up 0.34 percent), PPL (up 0.88 percent) and OGDC (up 0.10 percent) closed positive as OGRA revised wellhead gas prices up to 11 percent for 47 fields.