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KARACHI: Despite opening on positive note, Pakistan Stock Exchange Monday remained under pressure and closed in red zone on the first day of the roll-over week due to profit-taking in various sectors.

BRIndex100 lost 23.76 points or 0.45 percent to close at 5,252.31 points. BRIndex100 hit an intraday high of 5,286.73 and intraday low of 5,247.46 points. Volumes stood at 771.520 million shares.

BRIndex30 decreased by 71.42 points or 0.26 percent to close at 27,453.03 points with a turnover of 607.558 million shares.

The KSE-100 Index declined by 226.15 points or 0.47 percent to close at 48,012.52 points. Daily trading volumes on the ready counter stood at 839.186 million shares as compared to 750.561 million shares traded last Friday.

Foreign investors however remained net buyers of shares worth $14,937. The market capitalization declined by Rs 37 billion to Rs 8.357 trillion. Out of total 411 active scrips, 233 closed in negative and 163 in positive while the value of 15 stocks remained unchanged.

Silk Bank was the volume leader with 235.101 million shares and gained Rs 0.31 to close at Rs 2.14 followed by Hum Network that lost Rs 0.25 to close at Rs 8.87 with 60.357 million shares. Sanofi-Aventis and Bhanero Textile were the top gainers increasing by Rs 63.98 and Rs 59.00 respectively to close at Rs 989.98 and Rs 1059.00 while Unilever Foods and Colgate Palmolive were the top losers declining by Rs 840.00 and Rs 98.00 respectively to close at Rs 15710.00 and Rs 2700.00.

BR Automobile Assembler Index gained 28.02 points or 0.29 percent to close at 9,711.16 points with total turnover of 6.907 million shares.

BR Cement Index declined by 88.15 points or 1.14 percent to close at 7,670.05 points with 14.738 million shares.

BR Commercial Banks Index lost 6.82 points or 0.07 percent to close at 9,280.48 points with 261.361 million shares.

BR Power Generation and Distribution Index fell by 4.79 points or 0.08 percent to close at 5,764.11 points with 30.173 million shares.

BR Oil and Gas Index decreased by 21.14 points or 0.51 percent to close at 4,156.25 points with 29.449 million shares.

BR Tech. & Comm. Index closed at 4,434.50 points, down 10.54 points or 0.24 percent with 153.335 million shares.

Maaz Mulla at JS Global Capital said that despite opening on a positive note Pakistan Stock Exchange fell victim to across-the-board profit-taking. The market remained under pressure for most of the first day of the roll-over week as it slid 226 points to close at 48,012 level.

Overall volumes increased by 12 percent to 839 million shares. SILK (up 16.9 percent), HUMNL (down 2.7 percent), WTL (down 2.9 percent), PIBTL (up 1.2 percent) and FFL (up 2.2 percent) led the volume charts as they cumulatively contributed 53 percent towards the aggregate volumes.

PSMC (up 2.6 percent) from the auto sector gained to close higher on the back of news that the government may extend the tax relief to cars up to 1000cc in the recently proposed Finance Bill, with the aim of promoting affordable cars and localization in the country.

Selling pressure was witnessed in the cement sector where FLYNG (down 1.5 percent), PIOC (down 1.9 percent), DGKC (down 1.5 percent), MLCF (down 1.1 percent) and FCCL (down 1.2 percent) lost value to close negative.

Copyright Business Recorder, 2021

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