KARACHI: Pakistan Stock Exchange Thursday closed on a negative note as investors opted to book profit on available margins. BRIndex100 lost 25.95 points or 0.53 percent to close at 4,867.99 points. BRIndex100 hit intraday high of 4,909.35 and intraday low of 4,853.41 points. Volumes stood at 533.425 million shares.
BRIndex30 declined by 168.07 points or 0.68 percent to close at 24,508.20 points with a turnover of 357.378 million shares.
The KSE-100 Index decreased by 102.61 points or 0.22 percent and closed below 46,000 level at 45,989.35 points. Trading activity also remained thin as daily volumes on ready counter decreased to 620.746 million shares as compared to 845.282 million shares traded Wednesday.
Foreign investors also remained net sellers of shares worth $940,993. Total market capitalization declined by Rs 15 billion to Rs 8.341 trillion. Out of total 437 active scrips, 239 closed in negative and 183 in positive while the value of 15 stocks remained unchanged.
Hum Network was the top volume leader with 57.531 million shares however lost Rs 0.82 to close at Rs 6.90 followed by K-Electric that closed at Rs 4.21, down Rs 0.06 with 45.688 million shares. Colgate Palmolive and Pak Tobacco were the top gainers increasing by Rs 98.98 and Rs 42.98 respectively to close at Rs 3198.98 and Rs 1650.00 while Nestle Pakistan and Rafhan Maize were the top losers declining by Rs 104.37 and Rs 68.00 respectively to close at Rs 6630.63 and Rs 9782.00.
BR Automobile Assembler Index decreased by 72.64 points or 0.83 percent to close at 8,639.94 points with total turnover of 5.770 million shares.
BR Cement Index fell by 43.66 points or 0.69 percent to close at 6,321.19 points with 45.011 million shares.
BR Commercial Banks Index lost 10.8 points or 0.11 percent to close at 9,541.22 points with 58.599 million shares.
BR Power Generation and Distribution Index inched up by 1.55 points or 0.03 percent to close at 5,670.67 points with 77.322 million shares.
BR Oil and Gas Index declined by 34.99 points or 0.81 percent to close at 4,282.72 points with 13.535 million shares.
BR Tech. & Comm. Index closed at 2,900.91 points, down 3.09 points or 0.11 percent with 93.362 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the bearish activity was witnessed amid profit-taking in overbought stocks at PSX on concerns over economic slowdown after Moody report over expected subdued growth at 1.5 percent in FY21. Early session support remained on oil and cement stocks on 16 percent growth upbeat data on cement sales, 11 percent surge in POL sales for July-December 2020.
He said concerns over surging power tariff, gas shortfall for industrials and slump in global crude oil prices played a catalyst role for bearish close.
Copyright Business Recorder, 2021
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