KARACHI: Pakistan Stock Exchange Wednesday witnessed a bearish trend and closed in negative zone due to selling in various sectors. BRIndex100 lost 44.28 points
or 0.84 percent to close at 5,208.62 points. BRIndex100 hit intraday high of 5,276.28 points and intraday low of 5,204.10 points. Volumes stood at 1,264.016 million shares.
BRIndex30 decreased by 268.08 points or 0.98 percent to close at 27,211.58 points with a turnover of 1,104.762 million shares.
The KSE-100 Index declined by 370.36 points or 0.77 percent and closed at 47,777.62 points. Daily trading volumes on ready counter increased to 1,355.169 million shares as compared to 1,040.523 million shares traded Tuesday.
Foreign investors also remained net sellers of shares worth $332,819. Total market capitalization declined by Rs 68 billion to Rs 8.292 trillion. Out of total 416 active scrips, 274 closed in negative and 130 in positive while the value of 12 stocks remained unchanged.
WorldCall Telecom was the volume leader with 716.814 million shares and gained Rs 0.58 to close at Rs 4.22 followed by Hum Network that inched up by Rs 0.27 to close at Rs 8.69 with 75.861 million shares. Island Textile and Indus Motor Co were the top gainers increasing by Rs 154.12 and Rs 60.34 respectively to close at Rs 2209.12 and Rs 1335.60 while Rafhan Maize and Nestle Pakistan were the top losers declining by Rs 190.00 and Rs 61.07 respectively to close at Rs 9600.00 and Rs 5715.12.
BR Automobile Assembler Index increased by 63.26 points or 0.65 percent to close at 9,835.26 points with total turnover of 4.750 million shares.
BR Cement Index lost 56.22 points or 0.73 percent to close at 7,679.92 points with 38.583 million shares.
BR Commercial Banks Index decreased by 89.4 points or 0.95 percent to close at 9,305.42 points with 33.965 million shares.
BR Power Generation and Distribution Index fell by 56.86 points or 0.98 percent to close at 5,765.50 points with 109.652 million shares.
BR Oil and Gas Index declined by 58.61 points or 1.41 percent to close at 4,086.37 points with 41.189 million shares.
BR Tech. & Comm. Index closed at 4,302.76 points, down 30.71 points or 0.71 percent with 885.349 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks battered on pre-budget uncertainty, $27.488 billion dismal data on trade deficit for July-May’21 and concerns for World Banks revised thin growth forecast of 1.3 percent for FY21.
He said weak global equities and investor concerns for falling rupee played catalyst role in bearish close.
Copyright Business Recorder, 2021