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KARACHI: Pakistan Stock Exchange Tuesday nosedived due to panic selling on investors’ concerns over prevailing political situation in the country. BRIndex100 decreased by 115.17 points or 2.37 percent to close at 4,745.74 points. BRIndex-100 hit intraday high of 4,870.61 and an intraday low of 4,707.99 points. Volumes stood at 458.857 million shares.

BRIndex30 declined by 838.71 points or 3.33 percent to close at 24,312.42 points with total daily turnover of 296.290 million shares.

The KSE-100 Index plunged by 828.15 points or 1.84 percent and closed at 44,222.91 points. Daily trading volumes on ready counter increased to 492.314 million shares as compared to 459.870 million shares traded on Monday.

Foreign investors however remained net buyers of shares worth $945,077. The market capitalization declined by Rs 152 billion to Rs 7.930 trillion. Out of total 419 active scrips, 343 closed in negative and only 58 in positive while the value of 18 stocks remained unchanged.

Ghani Glo Hol was the volume leader with 41.233 million shares and increased by Rs 1.39 to close at Rs 22.84 followed by Unity Foods that declined by Rs 2.09 to close at Rs 28.87 with 33.334 million shares. Bata Pak and Sapphire Fiber were the top gainers increasing by Rs 102.83 and Rs 43.12 respectively to close at Rs 2132.85 and Rs 884.00 while Unilever Foods and Nestle Pakistan were the top losers declining by Rs 499.00 and Rs 163.33 respectively to close at Rs 14,000.00 and Rs 5926.67.

BR Automobile Assembler Index declined by 252.19 points or 2.94 percent to close at 8,316.50 points with total turnover of 3.705 million shares.

BR Cement Index plunged by 258.59 points or 3.62 percent to close at 6,893.36 points with 48.598 million shares.

BR Commercial Banks Index gained 7.67 points or 0.09 percent to close at 8,566.96 points with 34.271 million shares.

BR Power Generation and Distribution Index lost 31.17 points or 0.55 percent to close at 5,587.65 points with 31.217 million shares.

BR Oil and Gas Index decreased by 80.56 points or 1.95 percent to close at 4,050.16 points with 20.119 million shares.

BR Tech. & Comm. Index closed at 3,473.95 points, down 208.53 points or 5.66 percent with 77.218 million shares.

Maaz Mulla at JS Global Capital said that carnage was witnessed at the local bourse as the KSE-100 Index touched an intraday low of negative 1,105 points before closing at 44,223 level, down 828 points. This pressure was on the back of likely redemptions in mutual funds.

TRG (down 5.9 percent), SYS (down 6.0 percent), DGKC (down 7.3 percent), LUCK (down 1.7 percent), PSO (down 3.4 percent), PPL (down 2.7 percent) and CHCC (down 7.3 percent) were among major laggards which dragged the index down.

The Cement sector continued its downward fall where big players lost value to close in the red. DGKC (down 7.3 percent), PIOC (down 7.3 percent), CHCC (down 7.3 percent) and FCCL (down 4.5 percent) were the major loser of the mentioned sector.

Refinery sector followed the same trend where ATRL (down 7.5 percent), NRL (down 5.6 percent) and PRL (down 6.8 percent) lost value to close in the red region.

Copyright Business Recorder, 2021

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