KARACHI: Despite foreign buying, Pakistan Stock Exchange Wednesday witnessed a mixed trend and after moving both ways, closed on a negative note due to selling by local investors in various sectors.
BRIndex100 lost 14.09 points or 0.29 percent to close at 4,857.42 points. BRIndex100 hit intraday high of 4,907.45 and intraday low of 4,849.18 points. Volumes stood at 359.808 million shares.
BRIndex30 decreased by 52.49 points or 0.21 percent to close at 25,533.20 points with a turnover of 233.948 million shares.
The KSE-100 Index declined by 93.24 points or 0.21 percent and closed at 45,306.54 points. Trading activity however improved as daily volumes on ready counter increased to 387.908 million shares as compared to 343.281 million shares traded Tuesday.
Foreign investors however remained net buyers of shares worth $4.258 million. Total market capitalization declined by Rs 37 billion to Rs 7.899 trillion. Out of total 388 active scrips, 260 closed in negative and 111 in positive while the value of 17 stocks remained unchanged.
TRG Pak was the volume leader with 46.752 million shares and increased by Rs 8.21 to close at Rs 173.22 followed by WorldCall Telecom that lost Rs 0.12 to close at Rs 1.61 with 42.895 million shares. AKD Capital and Gatron Industries were the top gainers increasing by Rs 31.50 and Rs 28.94 respectively to close at Rs 451.50 and Rs 469.95 while Island Textile and Sapphire Textile were the top losers declining by Rs 155.55 and Rs 74.17 respectively to close at Rs 1918.45 and Rs 914.83.
BR Automobile Assembler Index declined by 112.87 points or 1.24 percent to close at 9,020.58 points with total turnover of 2.501 million shares.
BR Cement Index plunged by 111.49 points or 1.53 percent to close at 7,156.72 points with 22.322 million shares.
BR Commercial Banks Index gained 51.58 points or 0.6 percent to close at 8,679.73 points with 28.621 million shares.
BR Power Generation and Distribution Index lost 17.92 points or 0.33 percent to close at 5,459.41 points with 5.622 million shares.
BR Oil and Gas Index closed at 3,922.90 points, down 33.35 points or 0.84 percent with 6.116 million shares.
BR Tech. & Comm. Index increased by 80.2 points or 2.02 percent to close at 4,041.00 points with 132.670 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bearish on concerns for economic uncertainty. Early session support was witnessed in the earning season on strong financial results in fertilizer and banking sectors. He said likely hike in power tariff for industrials to ease circular debt crises, rupee instability and slump in global crude oil prices played a catalyst role in bearish close.
Copyright Business Recorder, 2021