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KARACHI: A bearish trend continued on Pakistan Stock Exchange on Thursday due to selling in various sectors, mainly by local investors and institutions.

BRIndex100 lost 42.9 points or 0.81 percent to close at 5,258.36 points. BRIndex100 hit intraday high of 5,307.89 and intraday low of 5,258.36 points. Volumes stood at 995.509 million shares.

BRIndex30 decreased by 356.62 points or 1.29 percent to close at 27,392.66 points with a turnover of 747.841 million shares.

The KSE-100 Index declined by 323.27 points or 0.67 percent to close at 48,157.63 points. Daily trading volumes on the ready counter increased to 1,117.427 million shares as compared to 936.665 million shares traded Tuesday.

Foreign investors however remained net buyers of shares worth $912,618. The market capitalization declined by Rs 39 billion to Rs 8.374 trillion. Out of total 413 active scrips, 283 closed in negative and 116 in positive while the value of 14 stocks remained unchanged.

WorldCall Telecom was the volume leader with 243.179 million shares and gained Rs 0.17 to close at Rs 4.01 followed by Silk Bank that inched up by Rs 0.23 to close at Rs 1.80 with 188.568 million shares. Wyeth Pak and Nestle Pakistan were the top gainers increasing by Rs 82.45 and Rs 30.00 respectively to close at Rs 2325.83 and Rs 5780.00 while Island Textile and Pak Services were the top losers declining by Rs 50.01 and Rs 30.67 respectively to close at Rs 2250.00 and Rs 910.12.

BR Automobile Assembler Index declined by 76.2 points or 0.78 percent to close at 9,732.17 points with total turnover of 7.312 million shares.

BR Cement Index lost 34.51 points or 0.45 percent to close at 7,680.50 points with 40.828 million shares.

BR Commercial Banks Index fell by 39.17 points or 0.42 percent to close at 9,354.21 points with 199.216 million shares.

BR Power Generation and Distribution Index plunged by 90.93 points or 1.55 percent to close at 5,779.58 points with 63.927 million shares.

BR Oil and Gas Index closed at 4,176.39 points, down 15.14 points or 0.36 percent with 43.776 million shares.

BR Tech. & Comm. Index decreased by 20.45 points or 0.46 percent to close at 4,400.60 points with 338.973 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks fell sharply lower amid consolidation in the post-budget session, slump in global crude oil prices, and weak global equities.

He said investor concerns over hike in power tariff, foreign outflows and political noise played catalyst role in bearish close.

Copyright Business Recorder, 2021

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