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KARACHI: Pakistan Stock Exchange Monday witnessed a bearish trend and closed in red zone due to selling in various sectors. BRIndex100 lost 29.11 points or 0.56 percent to close at 5,154.79 points. BRIndex100 hit intraday high of 5,194.16 and intraday low of 5,149.49 points. Volumes stood at 403.675 million shares.

BRIndex30 decreased by 348.64 points or 1.29 percent to close at 26,757.21 points with a turnover of 238.209 million shares.

The KSE-100 Index declined by 257.06 points or 0.54 percent to close at 47,429.12 points. Trading activity remained low as daily volumes on the ready counter decreased to 494.532 million shares as compared to 563.811 million shares traded last Friday.

Foreign investors also remained net sellers of shares worth $6.484 million. Total market capitalization declined by Rs 44 billion to Rs 8.316 trillion. Out of total 411 active scrips, 270 closed in negative and 133 in positive while the value of 8 stocks remained unchanged.

WorldCall Telecom was the volume leader with 55.638 million shares however lost Rs 0.08 to close at Rs 3.98 followed by Hascol Petroleum that closed at Rs 7.28, down Rs 0.98 with 39.831 million shares. Rafhan Maize and Sanofi-Aventis were the top gainers increasing by Rs 453.00 and Rs 63.99 respectively to close at Rs 10250.00 and Rs 964.99 while Unilever Foods and Pak Tobacco were the top losers declining by Rs 200.00 and Rs 70.00 respectively to close at Rs 15800.00 and Rs 1380.00.

BR Automobile Assembler Index gained 5.46 points or 0.06 percent to close at 9,792.98 points with total turnover of 16.664 million shares.

BR Cement Index declined by 110.57 points or 1.48 percent to close at 7,350.96 points with 21.561 million shares.

BR Commercial Banks Index lost 10.15 points or 0.11 percent to close at 9,080.54 points with 34.120 million shares.

BR Power Generation and Distribution Index inched up by 43 points or 0.74 percent to close at 5,815.60 points with 34.990 million shares.

BR Oil and Gas Index closed at 4,053.30 points, down 19.32 points or 0.47 percent with 78.650 million shares.

BR Tech. & Comm. Index decreased by 50.65 points or 1.11 percent to close at 4,504.02 points with 107.484 million shares.

An analyst at Arif Habib Limited said that post closure of financial year end, the market begin receding, resulting in a loss of 311 points during the session and closed negative 257 points.

Lack of obvious near term trigger caused the lackluster activity in the market whereby investors are concerned about beginning of earnings season, due to start end August.

Selling pressure was evident across-the-board, with focus on Cement, Steel, Technology, Refinery and E&P sectors. OGDC became exception to the selling, and saw active trading with range bound price uptick. SNGP posted its results with a dividend payout that attracted investors to build position and realized price gain.

Sectors contributing to the performance include Cement (down 76 points), Technology (down 23 points), E&P (down 23 points), Tobacco (down 21 points), Fertilizer (down 16 points) and Power (up 25 points).

Stocks that contributed positively to the index include HUBC (up 27 points), SNGP (up 12 points), EFERT (up 11 points), SCBPL (up 10 points) and BAFL (up 9 points). Stocks that contributed negatively include LUCK (down 39 points), PAKT (down 21 points), ENGRO (down 17 points), HBL (down 17 points) and PPL (down 15 points).

Copyright Business Recorder, 2021

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