A bearish trend continued on Pakistan Stock Exchange on the second consecutive day due to selling by local and foreign investors. BRIndex100 lost 11.02 points or 0.31 percent to close at 3,576.37 points. BRIndex100 touched intraday high of 3,599.13 and intraday low of 3,563.95 points. Volumes stood at 145.963 million shares.
BRIndex30 decreased by 21.78 points or 0.11 percent to close at 18,927.17 points with a turnover of 97.082 million shares. The KSE-100 Index declined by 102.73 points or 0.30 percent to close at 34,083.53 points. Daily trading volumes on the ready counter increased to 156.402 million shares as compared to 137.932 million shares traded Monday.
Foreign investors also remained net sellers of shares worth $1.7 million. The market capitalization declined by Rs 15 billion to Rs 6.719 trillion. Out of total 368 active scrips, 185 closed in positive, 158 in negative while the value of 25 stocks remained unchanged.
WorldCall Telecom was the volume leader with 18.275 million shares. It closed at Rs 1.07, up Re 0.01 followed by Fauji Cement that gained Re 0.53 to close at Rs 15.37 with 14.256 million shares. Unilever Foods and Colgate Palmolive were the top gainers with Rs 321.04 and Rs 50.00, respectively to close at Rs 6,746.99 and Rs 1,949.99. Sanofi-Aventis and Ismail Industries were the top losers with Rs 22.50 and Rs 18.00, respectively to close at Rs 527.10 and Rs 350.00.
BR Automobile Assembler Index lost 12.15 points or 0.24 percent to close at 4,994.23 points with total turnover of 540,540 million shares. BR Cement Index gained 4.57 points or 0.15 percent to close at 2,997.51 points with 27.481 million shares. BR Commercial Banks Index closed at 8,063.76 points, down 0.12 points with 12.533 million shares.
BR Power Generation and Distribution Index declined by 88.18 points or 1.85 percent to close at 4,680.68 points with 6.453 million shares. BR Oil and Gas Index decreased by 41.59 points or 1.05 percent to close at 3,915.07 points with 10.782 million shares.
BR Tech. & Comm. Index inched up 8.74 points or 1.18 percent to close at 749.99 points with 26.669 million shares. An analyst at Arif Habib Limited said that the KSE-100 Index lost another 102.73 points, after an oscillation of plus 73 points and minus 257 points, but maintained the 34,000 level.
Largely, Oil and Gas chain and Auto sector kept the index under pressure, which was due to lower international crude prices. Second day of FATF proceedings, on the whole, gave positive vibes that helped investors maintain interest. Brokerage commission, which also proved to be an issue on Monday, had a slight impact on the activity.
Sectors contributing to the performance include E&P (down 59 points), Power (down 45 points), Fertilizer (down 18 points), O&GMCs (down 12 points) and Chemical (plus 7 points). Stocks that contributed positively include HBL (up 9 points), FCCL (up 9 points), FABL (up 8 points), COLG (up 6 points) and MCB (up 6 points). Stocks that contributed negatively include HUBC (down 41 points), POL (down 23 points), OGDC (down 21 points), SNGP (down 14 points) and ENGRO (down 11 points).
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