KARACHI: Pakistan Stock Exchange Wednesday witnessed a mixed trend and after moving both ways, closed on a negative note due to selling in select stocks at the fag end.
BRIndex100 lost 5.82 points or 0.11 percent to close at 5,257.96 points. BRIndex100 hit intraday high of 5,278.28 points and intraday low of 5,236.77 points. Volumes stood at 889.447 million shares.
BRIndex30 closed at 27,438.03 points, down 26.46 points or 0.1 percent with total daily turnover of 614.916 million shares.
The KSE-100 Index declined by 64.36 points or 0.13 percent and closed at 48,126.90 points. Daily trading volumes on ready counter stood at 1,046.423 million shares as compared to 1,392.037 million shares traded Tuesday.
Foreign investors however remained net buyers of shares worth $311,112. Total market capitalization declined by Rs 01 billion to Rs 8.315 trillion. Out of total 428 active scrips, 216 closed in positive and 194 in negative while the value of 18 stocks remained unchanged.
WorldCall Telecom was the volume leader with 202.682 million shares and closed at previous day’s closing level of Rs 3.59 without any change followed by Byco Petroleum that lost Rs 0.09 to close at Rs 11.41 with 59.112 million shares. Unilever Foods and Wyeth Pak were the top gainers increasing by Rs 649.00 and Rs 184.65 respectively to close at Rs 16499.00 and Rs 2646.66 while Nestle Pakistan and Pak Engineering were the top losers declining by Rs 113.67 and Rs 29.57 respectively to close at Rs 5586.33 and Rs 380.00.
BR Automobile Assembler Index increased by 111.75 points or 1.19 percent to close at 9,522.77 points with total turnover of 15.012 million shares.
BR Cement Index decreased by 28.42 points or 0.37 percent to close at 7,751.00 points with 50.662 million shares.
BR Commercial Banks Index lost 30.95 points or 0.33 percent to close at 9,439.49 points with 54.809 million shares.
BR Power Generation and Distribution Index closed at 5,685.92 points, down 2.26 points or 0.04 percent with 31.930 million shares.
BR Oil and Gas Index fell by 21.88 points or 0.52 percent to close at 4,155.08 points with 41.145 million shares.
BR Tech. & Comm. Index declined by 32.88 points or 0.75 percent to close at 4,324.02 points with 307.204 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed lower amid record trades on concerns for 10.9 percent on year-on-year higher CPI inflation data for May 2021 and foreign outflows after MSCI exclusions. Midsession support remained in oil stocks on surging sales data by 14 percent on year-on-year in May 2021, exports surging by 18.7 percent to $1.657 billion during May’21 and Fertiliser sales up by 109 percent in May ‘21.
He said pre-budget uncertainty and rupee instability played catalyst role in bearish close.
Copyright Business Recorder, 2021