KARACHI: Pakistan Stock Exchange Monday witnessed a bearish trend and closed on a negative note due to selling in various sectors. BRIndex100 lost 28.25 points or 0.57 percent to close at 4,913.85 points. BRIndex100 hit intraday high of 4,965.45 and intraday low of 4,836.09 points. Volumes stood at 328.789 million shares.
BRIndex30 decreased by 126.85 points or 0.5 percent to close at 25,341.67 points with a turnover of 224.657 million shares.
The KSE-100 Index declined by 271.59 points or 0.59 percent and closed at 45,593.43 points. Trading activities remained low as daily volumes on ready counter decreased to 368.389 million shares as compared to 479.981 million shares traded on previous session.
Foreign investors also remained net sellers of shares worth $75,615. The market capitalization declined by Rs 44 billion to Rs 8.163 trillion. Out of total 421 active scrips, 297 closed in negative and 111 in positive while the value of 13 stocks remained unchanged.
Azgard Nine was the volume leader with 31.768 million shares and gained Rs 0.70 to close at Rs 31.43 followed by TRG Pak that closed at Rs 141.49, down Rs 0.57 with 24.615 million shares. Unilever Foods and Colgate Palmolive were the top gainers increasing by Rs 450.00 and Rs 83.98 respectively to close at Rs 14,000.00 and Rs 2750.00 while Sapphire Textile and Khyber Tobacco were the top losers declining by Rs 48.67 and Rs 37.67 respectively to close at Rs 974.00 and Rs 464.68.
BR Automobile Assembler Index decreased by 82.33 points or 0.94 percent to close at 8,671.61 points with total turnover of 2.389 million shares.
BR Cement Index lost 24.02 points or 0.32 percent to close at 7,551.56 points with 38.367 million shares.
BR Commercial Banks Index plunged by 87.83 points or 1.01 percent to close at 8,586.72 points with 15.820 million shares.
BR Power Generation and Distribution Index declined by 54.55 points or 0.96 percent to close at 5,633.07 points with 13.311 million shares.
BR Oil and Gas Index fell by 17.74 points or 0.43 percent to close at 4,113.37 points with 10.311 million shares.
BR Tech. & Comm. Index closed at 3,678.21 points, down 27.59 points or 0.74 percent with 80.708 million shares.
An analyst at Arif Habib Limited said that the market saw a major drawdown by losing 772 points during the session. Initially, the index gained 144 points, however, across the board selling pressure brought the index down.
The Supreme Court’s decision on Senate Election was viewed against the back drop of government’s plea and concerned investors to keep the liquidity intact rather than hold on to positions.
TRG announced financial results, which saw profit booking that brought the stock below LDCP. Among the few stocks that traded positive include STCL, MUGHAL, ATRL, NRL. Last half an hour saw brisk buying with index closing negative 272 points.
Sectors contributing to the performance include Banks (down 103 points), Textile (down 27 points), Pharma (down 26 points), Power (down 23 points), Technology (down 19 points) and Chemical (up 22 points).
Stocks that contributed positively to the index include EPCL (up 18 points), COLG (up 12 points), PAKT (up 9 points), LUCK (up 8 points) and ANL (up 6 points). Stocks that contributed negatively include UBL (down 39 points), HBL (down 32 points), BAHL (down 18 points), PSO (down 13 points) and MARI (down 12 points).
Copyright Business Recorder, 2021
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