Pakistan Stock Exchange (PSX) Friday closed flat due to thin trading following investor concerns over inconclusive IMF visit and security unrest in the city. BRIndex100 moved up by 2.42 points or 0.06 percent to close at 4,320.44 points up from 4,318.02 points a day earlier. BRIndex100 touched intraday high of 4,330.76 points and intraday low of 4,294.66 points. Volume stood at 115.167 million at BRIndex100 and Dewan Cement emerged the most traded company with a volume of 7.6 million shares.
BRIndex30 decreased by 34.83 points or 0.15 percent to close at 22,667.62 points. It touched intraday high of 22,748.26points and intraday low of 22,583.66 points. Volume stood at 72.36 million shares.
The benchmark KSE-100 index closed at 40,869.28 points, down by 4.75 points. Daily trading volumes declined to 123.56 million as compared to 160 million shares Thursday. The market capitalization decreased by Rs 10 billion to Rs 8.096 trillion. Out of total 346 active scrips, some 159 closed positive, 163 negative while the value of 24 stocks remained unchanged.
Analysts said the gradual decline in volumes for the past several sessions continued unabated. Investors did not feel confident to carry forward positions over the weekend, especially in the aftermath of inconclusive IMF visit and unfulfilled expectations from PM's UAE & Malaysia visits, they added.
Volumes were anemic and have been declining since last week. Major volumes were observed in cement sector rather than chemical, which used to rule the chart consecutively for past several sessions.
Ahsan Mehanti, Director Arif Habib said that security unrest in the city and uncertainty in global equities and slump in global crude prices invited mid-session selling. Banks and cement stocks outperformed of speculation ahead of SBP policy rate announcement next week and reports of surging local cement prices, he added.
He said political uncertainty; dismal IMF forecast over weak growth at 4 percent owing to economic imbalances, policy uncertainty played a catalytic role in bearish close at PSX.
Dewan Cement emerged the volume leader with 7.63 million shares. It gained Re 0.74 to close at Rs 15.78 followed by Maple Leaf that surged by Re 2.23 to close at Rs 51.96 with 7.27 million shares. Siddiqsons ranked third with 6.37 million shares to close at Rs 20.71, down Re. 0.13.
Island Textile and Lucky Cement were the top gainers with Rs 77.31 and Rs 23.82, respectively to close at Rs 1,679.25 and Rs 532.44. Shezan Int. and Indus Motor were the top losers with Rs 25.47 and Rs 24.18, respectively to close at Rs 484.02 and Rs 1,348.82.
BR Commercial Banks Index closed at 8,459.96 with a net positive change of 46.26 points or a percentage change of 0.55 and a total turnover of 12,152,500.
BR Cement Index closed at 4,884.80 with a net positive change of 139.88 points or a percentage change of 2.95 and a total turnover of 29,447,650.
BR Oil and Gas Index closed at 4,987.01 with a net negative change of -66.41 points or a percentage change of -1.31 and a total turnover of 3,915,120.
BR Tech. & Comm. Index closed at 1,153.13 with a net negative change of -8.13 points or a percentage change of -0.7 and a total turnover of 12,447,900.
BR Power Generation and Distribution Index closed at 6,096.53 with a net negative change of -28 points or a percentage change of -0.46 and a total turnover of 3,090,500.