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KARACHI: Pakistan Stock Exchange Monday remained under pressure and closed in deep red due to selling in almost all sectors.

BRIndex100 lost 91.41 points or 1.76 percent to close at 5,106.17 points. BRIndex100 hit intraday high of 5,201.61 points and intraday low of 5,098.60 points. Volumes stood at 532.502 million shares.

BRIndex30 declined by 409.6 points or 1.51 percent to close at 26,745.33 points with a turnover of 351.010 million shares.

The KSE-100 Index plunged by 601.01 points or 1.26 percent to close at 47,002.35 points. Trading activity remained low as daily volumes on ready counter decreased to 655.122 million shares as compared to 761.422 million shares traded last Friday.

The market capitalization declined by Rs 92 billion to Rs 8.224 trillion. Out of total 416 active scrips, 315 closed in negative and only 78 in positive while the value of 23 stocks remained unchanged.

WorldCall Telecom was the volume leader with 98.862 million shares however lost Rs 0.14 to close at Rs 3.81 followed by Byco Petroleum closed at 11.40, down Rs 0.75 with 52.860 million shares. Hinopak Motor and Pak Tobacco were the top gainers increasing by Rs 42.95 and Rs 24.40 respectively to close at Rs 615.62 and Rs 1401.00 while Bata Pak and Sanofi-Aventis were the top losers declining by Rs 70.60 and Rs 46.94 respectively to close at Rs 1660.43 and Rs 923.06.

BR Automobile Assembler Index declined by 174.82 points or 1.79 percent to close at 9,609.20 points with total turnover of 11.468 million shares.

BR Cement Index plunged by 155.56 points or 2.08 percent to close at 7,305.69 points with 25.193 million shares.

BR Commercial Banks Index decreased by 179.31 points or 1.96 percent to close at 8,952.42 points with 38.189 million shares.

BR Power Generation and Distribution Index fell by 63.36 points or 1.09 percent to close at 5,741.68 points with 34.949 million shares.

BR Oil and Gas Index lost 60.37 points or 1.47 percent to close at 4,055.19 points with 26.548 million shares.

BR Tech. & Comm. Index closed at 4,408.00 points, down 2.04 points or 0.05 percent with 160.623 million shares.

An analyst at Arif Habib Limited said that the market dipped 701 points during the session and closed the session down 601 points.

Financial year end closing for the institutional investors (Banks and Mutual Funds) prompted profit booking, especially in the aftermath of MSCI downgrade from Emerging Market to Frontier Market which can possibly result in selling from foreign corporates.

Selling pressure was witnessed across the board with emphasis on Cement, Banks, E&P sectors.

Sectors contributing to the performance include Banks (down 191 points), Cement (down 106 points), O&GMCs (down 53 points), E&P (down 52 points) and Textile (down 45 points).

Stocks that contributed positively to the index include TRG (up 22 points), ABOT (up 10 points), THALL (up 8 points), ABL (up 8 points) and PKGS (up 8 points). Stocks that contributed negatively include HBL (down 69 points), LUCK (down 51 points), UBL (down 43 points), HUBC (down 33 points) and MCB (down 24 points).

Copyright Business Recorder, 2021

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