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KARACHI: Pakistan Stock Exchange Wednesday witnessed a mixed trend however closed on a negative note due to selling in various sectors.

BRIndex100 lost 8.08 points or 0.18 percent to close at 4,409.57 points. BRIndex100 hit intraday high of 4,440.73 and intraday low of 4,386.55 points. Volumes stood at 452.302 million shares.

BRIndex30 decreased by 124.02 points or 0.55 percent to close at 22,576.67 points with a turnover of 327.289 million shares.

The KSE-100 Index declined by 64.14 points or 0.15 percent and closed at 42,282.28 points. Trading activity remained thin as daily volumes on ready counter decreased to 489.600 million shares as compared to 662.804 million shares traded on Tuesday.

Foreign investors also remained sellers of shares worth $1.162 million. Total market capitalization declined by Rs 31 billion to Rs 7.915 trillion. Out of total 414 active scrips, 250 closed in negative and 148 in positive while the value of 16 stocks remained unchanged.

K-Electric was the volume leader with 70.582 million shares however lost Rs 0.05 to close at Rs 4.07 followed by Hascol Petroleum that closed at Rs 22.40, down Rs 0.35 with 37.389 million shares. Hinopak Motor and Bata Pak were the top gainers increasing by Rs 40.08 and Rs 25.85 respectively to close at Rs 759.76 and Rs 1621.50 while Pak Tobacco and Island Textile were the top losers declining by Rs 65.20 and Rs 40.50 respectively to close at Rs 1724.80 and Rs 966.50.

BR Automobile Assembler Index gained 4.25 points or 0.05 percent to close at 7,943.98 points with total turnover of 4.380 million shares.

BR Cement Index inched up by 31.4 points or 0.53 percent to close at 6,003.21 points with 65.639 million shares.

BR Commercial Banks Index decreased by 59.34 points or 0.69 percent to close at 8,500.52 points with 54.050 million shares.

BR Power Generation and Distribution Index declined by 51.77 points or 0.99 percent to close at 5,167.05 points with 82.760 million shares.

BR Oil and Gas Index lost 19.03 points or 0.45 percent to close at 4,178.54 points with 46.571 million shares.

BR Tech. & Comm. Index closed at 1,962.78 points, down 0.26 points or 0.01 percent with 32.911 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower amid thin trade on concerns for economic uncertainty. LSM growth at 5.02 percent on year-on-year basis in July 2020 and surging global crude oil prices invited mid season support.

He said ADB projections on slower growth of 2 percent of GDP for FY21 against 3.2 percent earlier projections, weak global equities and uncertainty over exports in cement and textile sector played a catalyst role for negative close.

Copyright Business Recorder, 2020