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KARACHI: Pakistan Stock Exchange Friday witnessed a bearish trend due to selling in various sectors. BRIndex100 lost 42.87 points or 0.82 percent to close at 5,197.58 points. BRIndex100 hit intraday high of 5,253.82 points and intraday low of 5,176.60 points. Volumes stood at 687.498 million shares.

BRIndex30 decreased by 53.96 points or 0.2 percent to close at 27,154.93 points with a turnover of 429.753 million shares. The KSE-100 Index declined by 359.18 points or 0.75 percent to close at 47,603.36 points. Daily trading volumes on ready counter stood at 761.422 million shares as compared to 638.843 million shares traded Thursday. The market capitalization declined by Rs 42 billion to Rs 8.316 trillion. Out of total 402 active scrips, 229 closed in negative and 155 in positive while the value of 18 stocks remained unchanged.

WorldCall Telecom was the volume leader with 142.179 million shares and gained Rs 0.30 to close at Rs 3.95 followed by Byco Petroleum that lost Rs 0.35 to close at Rs 12.15 with 53.809 million shares. Pak Services and Nestle Pakistan were the top gainers increasing by Rs 58.14 and Rs 55.00 respectively to close at Rs 900.00 and Rs 5815.00 while Sapphire Textile and Abbott Lab were the top losers declining by Rs 37.50 and Rs 27.56 respectively to close at Rs 872.50 and Rs 752.44. BR Automobile Assembler Index lost 29.53 points or 0.3 percent to close at 9,784.02 points with total turnover of 14.227 million shares.

BR Cement Index plunged by 139.46 points or 1.83 percent to close at 7,461.25 points with 26.608 million shares. BR Commercial Banks Index declined by 95.35 points or 1.03 percent to close at 9,131.73 points with 41.618 million shares.

BR Power Generation and Distribution Index closed at 5,805.04 points, down 3.88 points or 0.07 percent with 38.577 million shares. BR Oil and Gas Index decreased by 43.49 points or 1.05 percent to close at 4,115.56 points with 33.989 million shares.

BR Tech. & Comm. Index gained 24.73 points or 0.56 percent to close at 4,410.04 points with 240.587 million shares. Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower on uncertainty over FATF decision on Pakistan action plan and exit from grey list and MSCI consultation over downgrade to frontier market status by September 07 this year. Institutional support remained on higher global crude oil prices and rupee stability. He said impact of senate approval for the government 10 percent power surcharge on industrial power tariff and reports of $632 million current account deficit in May’21 played catalyst role in bearish close.

Copyright Business Recorder, 2021

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