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KARACHI: Pakistan Stock Exchange Friday remained under pressure and closed on a negative note due to selling by local and foreign investors. BRIndex100 lost 10.86 points or 0.23 percent to close at 4,726.94 points. BRIndex100 hit intraday high of 4,757.64 and intraday low of 4,708.88 points. Volumes stood at 228.623 million shares.

BRIndex30 decreased by 89.12 points or 0.36 percent to close at 24,379.27 points with a turnover of 145.581 million shares.

The KSE-100 Index declined by 127.15 points or 0.29 percent to close at 44,300.95 points. Trading activity remained low as daily volumes on the ready counter decreased to 266.848 million shares as compared to 313.508 million shares traded Thursday.

Foreign investors also remained net sellers of shares worth $1.843 million. Total market capitalization declined by Rs 11 billion to Rs 7.834 trillion. Out of total 379 active scrips, 198 closed in negative and 157 in positive while the value of 24 stocks remained unchanged.

TRG Pak was the volume leader with 22.928 million shares however declined by Rs 3.93 to close at Rs 136.22 followed by Pak Refinery that gained Rs 0.90 to close at Rs 26.09 with 15.411 million shares. Rafhan Maize and Colgate Palmolive were the top gainers increasing by Rs 680.00 and Rs 138.00 respectively to close at Rs 10,200.00 and Rs 2848.00 while Pak Tobacco and Service Industries were the top losers declining by Rs 60.24 and Rs 47.87 respectively to close at Rs 1501.65 and Rs 1156.86.

BR Automobile Assembler Index increased by 72.07 points or 0.81 percent to close at 8,953.26 points with total turnover of 2.280 million shares.

BR Cement Index gained 39.01 points or 0.57 percent to close at 6,923.57 points with 20.087 million shares.

BR Commercial Banks Index lost 6.28 points or 0.07 percent to close at 8,549.84 points with 9.025 million shares.

BR Power Generation and Distribution Index decreased by 19.3 points or 0.35 percent to close at 5,514.69 points with 7.657 million shares.

BR Oil and Gas Index fell by 21.16 points or 0.53 percent to close at 3,949.09 points with 9.082 million shares.

BR Tech. & Comm. Index declined by 79.95 points or 2.24 percent to close at 3,482.32 points with 51.413 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks remained under pressure closed lower amid thin trade on dismal data for trade deficit at $2.96 billion surging by 98 percent on year-on-year basis and 9.1 percent YoY CPI inflation for March 2021. Mid-session support witnessed in oil stocks amid surge in global crude oil prices. Cement stocks outperformed on reports of 44.4 percent on month-on-month basis surge in cement sales.

He said investor concerns for rupee instability and higher inflation played a catalyst role in negative close at PSX.

Copyright Business Recorder, 2021

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