BRIndex100 depressed

Pakistan Stock Exchange Tuesday remained under pressure due to selling in various sectors. BRIndex100 lost 91.34 points or 1.94 percent to close at 4,626.72 points. BRIndex100 touched intraday high of 4,714.08 and intraday low of 4,615.87 points. Volumes stood at 103.829 million shares. BRIndex30 decreased by 514.15 points or 2.2 percent to close at 22,899.48 points with a turnover of 84.532 million shares.
The benchmark KSE-100 index declined by 702.26 points to close at 43,228.90 points. Trading activity also remained low as daily volumes on the ready counter decreased to 137.787 million shares as compared to 160.149 million shares traded Monday. Foreign investors remained net sellers of shares worth $1.4 million. The market capitalization declined by Rs 117 billion to Rs 8.904 trillion. Out of total 339 active scrips, 274 closed in negative, only 48 in positive while the value of 17 stocks remained unchanged.
Bank of Punjab was the volume leader with 11.446 million shares. However, it lost Re 0.38 to close at Rs 12.86 followed by Siddiqsons (R) that declined by Re 0.70 to close at Rs 2.30 with 10.828 million shares.
Rafhan Maize and Abbott Lab were the top gainers with Rs 344.67 and Rs 15.82, respectively to close at Rs 8,198.00 and Rs 691.82. Colgate Palmolive and Sapphire Textile were the top losers with Rs 100.04 and Rs 46.64, respectively to close at Rs 3,497.96 and Rs 1,093.45.
BR Commercial Banks Index plunged by 191.51 points or 2.1 percent to close at 8,908.52 points with total turnover of 21.162 million shares.
BR Cement Index declined by 162.36 points or 3.19 percent to close at 4,930.08 points with 18.953 million shares.
BR Oil and Gas Index lost 53.22 points or 0.96 percent to close at 5,492.33 points with 6.440 million shares.
BR Tech. & Comm. Index decreased by 23.82 points or 2.04 percent to close at 1,144.85 points with 8.366 million shares.
BR Power Generation and Distribution Index closed at 6,171.29 points, down 12.33 points or 0.2 percent with 7.077 million shares.
Maaz Mulla at JS Global Capital said that negativity prevailed around the clock as the index lost 702 points to close at 43,229 levels, owing to jitters from the political backdrop. The market remained under pressure throughout the session after the US dollar surged to record high against the Pakistan Rupee in the interbank market on Monday, touching Rs 121 to settle at Rs 119.8 to a dollar. Moreover, major heavyweights namely, HBL (down 3.5 percent), OGDC (down 0.7 percent), PPL (down 0.1 percent), UBL (down 3.5 percent), ENGRO (down 0.6 percent), MCB (down 2.3 percent), LUCK (down 2.8 percent), POL (down 1.0 percent), FFC (down 1.6 percent) cumulatively contributed negative 309 points.