BRIndex100 sheds 23.06 points

Despite foreign buying, Pakistan Stock Exchange Tuesday witnessed a bearish trend due to selling by local investors. BRIndex100 lost 23.06 points or 0.54 percent to close at 4,248.46 points. BRIndex100 touched intraday high of 4,271.79 and intraday low of 4,244.45 points. Volumes stood at 130.522 million shares. BRIndex30 decreased by 139.63 points or 0.65 percent to 21,366.38 points with a turnover of 92.377 million shares.
The benchmark KSE-100 index declined by 104.40 points to 39,945.41 points. Daily trading volumes increased to 147.302 million shares as compared to 96.654 million shares traded Monday. Foreign investors emerged net buyers of shares worth $0.5 million. Out of total 363 active scrips, 195 closed in positive, 152 in negative while the value of 16 stocks remained unchanged.
K-Electric was the volume leader with 17.859 million shares. It gained Re 0.21 to close at Rs 6.55 followed by TRG Pak that increased by Re 0.35 to close at Rs 37.41 with 12.730 million shares. Nestle Pakistan and Khyber Tobacco were the top gainers with Rs 542.50 and Rs 69.45, respectively to close at Rs 11,392.50 and Rs 1,568.45. Unilever Foods and Wyeth Pak were the top losers with Rs 250.00 and Rs 30.00, respectively to close at Rs 6,950.00 and Rs 1,590.00.
BR Commercial Banks Index decreased by 79.69 points or 1.04 percent to close at 7,612.61 points with total turnover of 6.195 million shares. BR Cement Index lost 10.36 points or 0.21 percent to close at 5,003.24 points with total volumes of 10.837 million shares. BR Oil and Gas Index closed at 4,983.31 points, down 47.42 points or 0.94 percent with 10.602 million shares.
BR Tech. & Comm. Index gained 14.55 points or 1.23 percent to close at 1,199.15 points with 25.711 million shares. BR Power Generation and Distribution Index increased by 48.07 points or 0.76 percent to close at 6,414.93 points with 34.623 million shares.
An analyst at Topline Securities said that KSE-100 index declined by 0.3 percent. Investors were unnerved that the Lahore High Court (LHC) ordered the Punjab Govt. to make 2014 Model Town incident judicial inquiry report public in 30 days. Penny hunter's high risk high return strategy paid off as JPGL (up 78 percent/+Rs 1.0), a shuttered oil based IPP, said in a bourse filing that it would appeal an earlier winding up petition. Meanwhile KEL (up 3.3 percent) made some late gains on speculation over outcome of MYT hearing. SNGP (down 4.9 percent) caved into pressure as the gas utility uploaded a document on its website alleging its profits would be slashed in half if OGRA's proposals go through. Top index point detractors were UBL (down 2 percent), OGDC (down 1.5 percent), HBL (down 1.3 percent), SNGP (down 4.9 percent) and MCB (down 1.3 percent) holding 152 points while NESTLE (up 5 percent), DAWH (up 2.3 percent), SEARL (up 3 percent), ENGRO (up 1.0 percent) and KEL (up 3.3 percent) added 85 points. On the sector front; Banks shed 92 points, OMCs 54 points, E&Ps 24 points, Power 23 points and Cement 20 points; while Food added 23 points, Auto Assemblers 22 points, Pharma 18 points and Ferts 16 points.