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KARACHI: Pakistan Stock Exchange on Wednesday closed on negative note due to selling in various sectors as the investors opted to book profit on available margins. BRIndex100

lost 11.65 points or 0.23 percent to close at 5,032.53 points. During the session, the BRIndex-100 hit an intraday high of 5,100.86 and an intraday low of 5,026.77 points. Total volumes stood at 585.709 million shares.

BRIndex30 decreased by 113.89 points or 0.44 percent to close at 25,763.00 points with total daily turnover of 341.456 million shares.

KSE-100 index declined by 99.81 points or 0.21 percent and closed at 46,768.14 points. Trading activities however improved due to heavy selling as total daily volumes on ready counter increased to 701.764 million shares as compared to 514.208 million shares traded on Tuesday.

The foreign investors remained net sellers of shares worth $711,070. Total market capitalization declined by Rs 25 billion to Rs 8.368 trillion. Out of total 419 active scrips, 204 closed in positive and 199 in negative while the value of 16 stocks remained unchanged.

Hum Network was the volume leader with 78.206 million shares however lost Re 0.11 to close at Rs 7.00 followed by Telecard Limited that gained Re 0.13 to close at Rs 7.76 with 76.131 million shares. Millat Tractors and Sunrays Textile were the top gainers increasing by Rs 55.23 and Rs 50.01 respectively to close at Rs 1210.64 and Rs 737.99 while Pak Tobacco and Bata Pak were the top losers declining by Rs 64.20 and Rs 49.00 respectively to close at Rs 1530.30 and Rs 1780.00.

BR Automobile Assembler Index increased by 147.02 points or 1.69 percent to close at 8,834.49 points with total turnover of 6.542 million shares. BR Cement Index gained 46.71 points or 0.62 percent to close at 7,547.43 points with 110.410 million shares. BR Commercial Banks Index declined by 120.91 points or 1.33 percent to close at 9,000.40 points with 31.176 million shares.

BR Power Generation and Distribution Index lost 46.43 points or 0.8 percent to close at 5,786.69 points with 19.932 million shares.

BR Oil and Gas Index closed at 4,320.34 points, down 9.54 points or 0.22 percent with 19.850 million shares.

BR Tech & Comm Index inched up by 21.01 points or 0.6 percent to close at 3,500.06 points with 219.769 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bearish on institutional profits taking in overbought scrips.

He said weak global equities, concerns over likely government decisions over massive surge in power tariff in the reinstated IMF program, foreign outflows and weak payouts in banking sector played a catalyst role for bearish close.

Copyright Business Recorder, 2021

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