KARACHI: Despite foreign buying, Pakistan Stock Exchange Friday remained under heavy pressure due to selling by local investors on their concerns over spreading corona cases in the country. BRIndex100 lost 22.24 points or 0.46 percent to close at 4,798.89 points. During the session, the BRIndex-100 hit intraday high of 4,824.01 and an intraday low of 4,756.38 points. Total volumes stood at 215.764 million shares.
BRIndex30 decreased by 84.08 points or 0.34 percent to close at 25,003.95 points with total daily turnover of 118.893 million shares.
The KSE-100 Index declined by 222.85 points or 0.50 percent and closed at 44,706.76 points. Trading activities also remained thin as daily volumes on ready counter decreased to 240.487 million shares as compared to 328.935 million shares traded on Thursday.
Foreign investors however emerged net buyers of shares worth $2.557 million. Total market capitalization declined by Rs 45 billion to Rs 7.789 trillion. Out of total 364 active scrips, 223 closed in negative and 126 in positive while the value of 15 stocks remained unchanged.
Ghani Glo. Hol was the volume leader with 38.784 million shares and increased by Rs 1.64 to close at Rs 35.01 followed by WorldCall Telecom that gained Rs 0.03 to close at Rs 1.56 with 24.113 million shares. Gatron Industries and Mehmood Textile were the top gainers increasing by Rs 33.35 and Rs 30.08 respectively to close at Rs 478.08 and Rs 490.08 while Colgate Palmolive and Wyeth Pak were the top losers declining by Rs 208.99 and Rs 30.06 respectively to close at Rs 2590.01 and Rs 929.95.
BR Automobile Assembler Index declined by 98.05 points or 1.11 percent to close at 8,723.21 points with 1.795 million shares.
BR Cement Index lost 33.24 points or 0.47 percent to close at 7,018.01 points with 11.499 million shares.
BR Commercial Banks Index decreased by 12.22 points or 0.14 percent to close at 8,742.31 points with 16.683 million shares.
BR Power Generation and Distribution Index plunged by 75.81 points or 1.41 percent to close at 5,319.08 points with 5.094 million shares.
BR Oil and Gas Index closed at 3,812.37 points, down 42.18 points or 1.09 percent with 6.518 million shares.
BR Tech. & Comm. Index increased by 48.59 points or 1.22 percent to close at 4,024.64 points with 68.165 million shares.
Muhammad Mubashir at JS Global Capital said that the market opened in red zone and touched a low of 44,363, down 566 points and remained under pressure amid announcement of countrywide lockdowns to be implemented.
But there was a partial recovery later in the day and the KSE-100 index closed at 44,706, down 223 points.
Volumes remained subdued amid the uncertainty, decreasing from 329 million shares on Thursday to 240 million shares. Stocks that contributed most significantly to volumes were GGL (up 4.9 percent), WTL (up 2.0 percent), TRG (up 2.6 percent), UNITY (down 1.6 percent), BYCO (down 0.5 percent) and TELE (up 7.4 percent).
Good activity was witnessed in HMB (up 7.4 percent) on the 1st quarter announcement of EPS of Rs 3.1, up 111 percent on year-on-year basis.
Copyright Business Recorder, 2021
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