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KARACHI: A bearish trend continued on Pakistan Stock Exchange Thursday due to selling by local and foreign investors.

BRIndex100 lost 1.75 points or 0.04 percent to close at 4,914.53 points. BRIndex100 hit intraday high of 4,944.62 points and intraday low of 4,908.08 points. Volumes stood at 738.601 million shares.

BRIndex30 closed at 25,585.31 points, up 110.66 points or 0.43 percent with a turnover of 517.966 million shares.

The KSE-100 Index declined by 108.04 points or 0.24 percent to close at 45,574.07 points. Trading activity however further improved as daily volumes on ready counter increased to 784.034 million shares as compared to 578.309 million shares traded Wednesday.

Foreign investors also remained net sellers of shares worth $4.933 million. Out of total 389 active scrips, 218 closed in positive and 151 in negative while the value of 20 stocks remained unchanged.

Byco Petroleum was the volume leader with 120.149 million shares and gained Rs 0.68 to close at Rs 10.26 followed by WorldCall Telecom that inched up by Rs 0.06 to close at Rs 1.76 with 77.733 million shares. Wyeth Pak and Colgate Palmolive were the top gainers increasing by Rs 103.53 and Rs 89.00 respectively to close at Rs 1484.02 and Rs 2889.00 while Philip Morris Pak and AKD Capital were the top losers declining by Rs 37.54 and Rs 33.41 respectively to close at Rs 862.46 and Rs 424.58.

BR Automobile Assembler Index closed at 8,809.50 points, down 0.76 points or 0.01 percent with total turnover of 8.615 million shares.

BR Cement Index lost 7.12 points or 0.1 percent to close at 7,245.39 points with 15.441 million shares.

BR Commercial Banks Index declined by 85.44 points or 0.96 percent to close at 8,787.83 points with 24.729 million shares.

BR Power Generation and Distribution Index fell by 4.67 points or 0.08 percent to close at 5,511.70 points with 52.612 million shares.

BR Oil and Gas Index decreased by 27.62 points or 0.71 percent to close at 3,874.90 points with 71.378 million shares.

BR Tech. & Comm. Index plunged by 10.03 points or 0.25 percent to close at 4,017.28 points with 172.288 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower amid high trades amid slump in global crude oil prices and weak global stocks.

He said foreign outflows after MSCI exclusions, uncertainty over SBP policy announcement next week amid higher CPI inflation and rupee instability played catalyst role in bearish close.

Copyright Business Recorder, 2021

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