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KARACHI: Pakistan Stock Exchange Monday after moving both ways, closed on a negative note due to selling in various sectors.

BRIndex100 lost 9.5 points or 0.22 percent to close at 4,387.93 points. BRIndex100 hit intraday high of 4,413.13 and intraday low of 4,381.84 points. Volumes stood at 324.140 million shares.

BRIndex30 decreased by 88.94 points or 0.4 percent to close at 22,141.29 points with a turnover of 204.868 million shares.

The KSE-100 Index declined by 91.69 points or 0.22 percent to close at 42,115.31 points. Trading activity remained low as daily volumes on ready counter decreased to 380.497 million shares as compared to 427.911 million shares traded on previous session.

Freign investors also remained net sellers of equities worth $634,983. Total market capitalization declined by Rs 14 billion to Rs 7.715 trillion. Out of total 399 active scrips, 219 closed in negative and 154 in positive while the value of 26 stocks remained unchanged.

TRG Pak was the top volume leader with 41.306 million shares and increased by Rs 1.50 to close at Rs 74.07 followed by Unity Foods that gained Rs 0.55 to close at Rs 27.78 with 33.255 million shares. Nestle Pakistan and National Refinery were top gainers increasing by Rs 164.95 and Rs 17.33 respectively to close at Rs 6750.00 and Rs 248.43 while Sapphire Fiber and Philip Morris Pak were the top losers declining by Rs 60.00 and Rs 39.99 respectively to close at Rs 965.00 and Rs 1410.00.

BR Automobile Assembler Index lost 17.75 points or 0.21 percent to close at 8,368.11 points with total turnover of 3.691 million shares.

BR Cement Index decreased by 35.44 points or 0.59 percent to close at 5,963.61 points with 20.543 million shares.

BR Commercial Banks Index fell by 11.47 points or 0.13 percent to close at 8,686.17 points with 14.038 million shares.

BR Power Generation and Distribution Index closed at 5,059.28 points, down 20.25 points or 0.4 percent with 11.693 million shares.

BR Oil and Gas Index declined by 38.93 points or 0.98 percent to close at 3,914.80 points with 22.945 million shares.

BR Tech. & Comm. Index increased by 33.65 points or 1.47 percent to close at 2,318.27 points with 86.975 million shares.

An analyst at Arif Habib Limited said that the market traded in a narrow range after opening on a positive note with plus 41 points. The session saw index swaying up 114 points and down 160 points, demonstrating Investors general lack of interest due to concerns over political uncertainty.

Selling pressure was mostly evident in Cement sector stocks, however, E&P stocks also failed to perform amid sticky oil prices in the international market. Technology sector stocks performed relatively better with NETSOL hitting upper circuit, while TRG trading in the positive zone. Although ASL and ISL increased product prices, the market didn't react as positively as they could have.

Sectors contributing to the performance include E&P (down 54 points), Cement (down 26 points), O&GMCs (down 14 points), Banks (down 12 points), Power (down 12 points), Technology (up 19 points) and Insurance (up 14 points).

Stocks that contributed positively to the index include TRG (up 16 points), AICL (up 13 points), BAHL (up 12 points), NESTLE (up 9 points) and EPCL (up 7 points). Stocks that contributed negatively include OGDC (down 27 points), PPL (down 25 points), MCB (down 15 points), DAWH (down 10 points) and LUCK (down 10 points).

Copyright Business Recorder, 2020

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