KARACHI: Pakistan Stock Exchange Wednesday closed on a negative note on the third consecutive day due to selling in various sectors. BRIndex100 lost 10.89 points or 0.21 percent to close at 5,230.56 points. BRIndex100 hit intraday high of 5,264.01 and intraday low of 5,228.46 points. Volumes stood at 553.824 million shares. BRIndex30 declined by 116.86 points or 0.43 percent to close at 27,224.01 points with a turnover of 354.502 million shares.
The KSE-100 Index decreased by 86.44 points or 0.18 percent to close at 47,900.70 points. Daily trading volumes on the ready counter stood at 619.119 million shares as compared to 610.741 million shares traded Tuesday. Foreign investors however remained net buyers of shares worth $315,636. The market capitalization however increased by Rs 2 billion to Rs 8.353 trillion. Out of total 420 active scrips, 204 closed in negative and 192 in positive while the value of 24 stocks remained unchanged.
Silk Bank was the volume leader with 52.282 million shares however lost Rs 0.16 to close at Rs 1.92 followed by WorldCall Telecom that closed the previous day’s closing level of Rs 3.86 without any change with 41.582 million shares. Island Textile and Hinopak Motor were the top gainers increasing by Rs 45.00 and Rs 34.57 respectively to close at Rs 2345.00 and Rs 495.56 while Wyeth Pak and Sanofi-Aventis were the top losers declining by Rs 64.80 and Rs 46.98 respectively to close at Rs 2220.00 and Rs 943.00. BR Automobile Assembler Index increased by 91.53 points or 0.94 percent to close at 9,803.77 points with total turnover of 9.672 million shares. BR Cement Index declined by 48.86 points or 0.64 percent to close at 7,579.58 points with 28.137 million shares.
BR Commercial Banks Index decreased by 45.04 points or 0.49 percent to close at 9,214.27 points with 94.747 million shares. BR Power Generation and Distribution Index gained 3.47 points or 0.06 percent to close at 5,753.61 points with 27.736 million shares.
BR Oil and Gas Index lost 4.89 points or 0.12 percent to close at 4,153.30 points with 27.857 million shares. BR Tech. & Comm. Index closed at 4,426.16 points, down 12.05 points or 0.27 percent with 126.572 million shares. “Another rangebound session was witnessed at the bourse that ended in red again after an oscillation between minus 114 points and plus 148 points, closing the session negative 86 points.
Selling pressure was evident across the board, barring E&P and Refinery sectors which maintained positive momentum throughout the session. E&P sector however saw selling in the closing hour bringing stock prices below LDCP. Sectors contributing to the performance include Banks (down 37 points), Cement (down 34 points), Vanaspati (down 22 points), Technology (down 21 points) and Fertilizer (up 25 points).
Stocks that contributed positively to the index include EFERT (up 14 points), FCEPL (up 11 points), OGDC (up 10 points), MTL (up 8 points) and NRL (up 7 points). Stocks that contributed negatively include UNITY (down 21 points), LUCK (down 21 points), TRG (down 16 points), HBL (down 13 points) and PSO (down 11 points).
Copyright Business Recorder, 2021
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