BRIndex100 edges down

Pakistan Stock Exchange Friday witnessed a mixed trend, however it closed in negative zone due to selling in various sectors at the fag end. BRIndex100 lost 28.04 points or 0.6 percent to close at 4,638.26 points. BRIndex100 touched intraday high of 4,699.80 and intraday low of 4,609.68 points. Volumes stood at 216.659 million shares. BRIndex30 decreased by 262.81 points or 1.09 percent to 23,947.25 points with a turnover of 163.847 million shares.
The benchmark KSE-100 index declined by 261.31 points to 43,267.20 points. Due to selling pressure, trading activity improved as daily volumes on the ready counter increased to 244.505 million shares as compared to 190.647 million shares traded Thursday. Foreign investors however remained net sellers of shares worth $0.9 million. The market capitalization decreased by Rs 51 billion to Rs 8.987 trillion. Out of total 366 active scrips, 246 closed in negative, only 95 in positive while the value of 25 stocks remained unchanged.
Dost Steel was the volume leader with 27.478 million shares. However, it lost Re 0.21 to close at Rs 13.25 followed by Azgard Nine that gained Re 0.04 to close at Rs 17.63 with 15.617 million shares. Bata Pak and Wyeth Pak were the top gainers with Rs 122.45 and Rs 55.36, respectively to close at Rs 2,706.50 and Rs 1.786.36. Nestle Pakistan and Sanofi-Aventis were the top losers with Rs 104.00 and Rs 49.00, respectively to close at Rs 11,970.00 and Rs 1,401.00. BR Commercial Banks Index lost 8 points or 0.09 percent to close at 8,878.15 points with total turnover of 21.689 million shares.
BR Cement Index declined by 67.93 points or 1.22 percent to close at 5,488.81 points with 17.770 million shares.
BR Oil and Gas Index closed at 5,204.08 points, down 14.75 points or 0.28 percent with 12.506 million shares. BR Tech. & Comm. Index decreased by 24.16 points or 1.97 percent to close at 1,204.14 points with 25.710 million shares. BR Power Generation and Distribution Index plunged by 48.46 points or 0.76 percent to close at 6,335.12 points with 9.141 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower on concerns for economic uncertainty after dismal data for trade deficit and external account for July-January 2018. Institutional support witnessed in textile scrips on reports on likely extension of EU GSP Plus status. He said surging budget deficit, foreign outflows amid uncertainty over the outcome of US motion by FATF and falling FX reserves played a catalytic role in bearish close at PSX.