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KARACHI: Pakistan Stock Exchange Monday remained under heavy pressure due to selling, mainly by local investors in almost all sectors. BRIndex100 lost 44.37 points or 0.94 percent to close at 4,685.53 points. BRIndex100 hit intraday high of 4,732.72 and an intraday low of 4,640.54 points. Total volumes stood at 224.602 million shares.

BRIndex30 decreased by 435.27 points or 1.79 percent to close at 23,825.82 points with total daily turnover of 128.186 million shares.

The KSE-100 Index declined by 186.15 points or 0.42 percent to close at 44,076.20 points. Trading activity remained low as daily volumes on the ready counter decreased to 238.440 million shares as compared to 293.746 million shares traded on previous session.

Foreign investors however remained net buyers of shares worth $54,566. The market capitalization declined by Rs 21 billion to Rs 7.697 trillion. Out of total 360 active scrips, 238 closed in negative and 111 in positive while the value of 11 stocks remained unchanged.

Unity Foods was the volume leader with 36.363 million shares and increased by Rs 1.27 to close at Rs 32.06 followed by Telecard Limited that declined by Rs 1.03 to close at Rs 13.75 with 25.354 million shares. Unilever Foods and Wyeth Pak were the top gainers increasing by Rs 1000.00 and Rs 71.25 respectively to close at Rs 15,000.00 and Rs 1021.25 while Rafhan Maize and Bata Pak were the top losers declining by Rs 369.97 and Rs 130.00 respectively to close at Rs 9455.03 and Rs 1670.00.

BR Automobile Assembler Index lost 28.83 points or 0.34 percent to close at 8,448.51 points with total turnover of 1.289 million shares.

BR Cement Index decreased by 50.92 points or 0.74 percent to close at 6,833.60 points with 14.870 million shares.

BR Commercial Banks Index fell by 22.63 points or 0.26 percent to close at 8,725.06 points with 12.625 million shares.

BR Power Generation and Distribution Index declined by 53.89 points or 1.03 percent to close at 5,193.72 points with 5.810 million shares.

BR Oil and Gas Index closed at 3,776.61 points, down 0.71 points or 0.02 percent with 10.576 million shares.

BR Tech. & Comm. Index plunged by 136.97 points or 3.54 percent to close at 3,730.70 points with 61.516 million shares.

An analyst at Arif Habib Limited said that roll-over trades from April Futures Contract that remained outstanding at the end of roll-over week on Friday caused mayhem today as well, especially the positions in TRG and NETSOL. Resultantly, the Index slashed 632 points during the session. Recovery ensued, considering that the positions have rolled-over however, since the positions were still outstanding, the recovery efforts proved futile, ending the session minus 186 points.

NETSOL hit lower circuit since the beginning of the session, whereas TRG traded near lower circuit the entire session. Besides Technology stocks, selling pressure was observed in Cement and Steel sectors which kept the index down.

Sectors contributing to the performance include Technology (down 89 points), Textile (down 58 points), Cement (down 33 points), Power (down 29 points) and Refinery (down 12 points).

Stocks that contributed positively to the index include SYS (up 41 points), HBL (up 17 points), UNITY (up 16 points), KTML (up 13 points) and FFC (up 13 points). Stocks that contributed negatively include TRG (down 130 points), HUBC (down 28 points), NML (down 23 points), ANL (down 16 points) and LUCK (down 15 points).

Copyright Business Recorder, 2021

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