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KARACHI: Despite foreign buying, Pakistan Stock Exchange Friday remained under pressure and closed in deep red due to selling in various sectors. BRIndex100 lost 51.54 points or 0.98 percent to close at 5,182.72 points. BRIndex100 hit intraday high of 5,235.78 points and intraday low of 5,178.86 points. Total volumes stood at 410.545 million shares.

BRIndex30 declined by 481.8 points or 1.76 percent to close at 26,844.64 points with total daily turnover of 210.528 million shares.

The KSE-100 Index plunged by 489.72 points or 1.02 percent and closed below 48,000 psychological level at 47,563.45 points. Daily trading volumes on ready counter increased to 505.993 million shares as compared to 475.239 million shares traded Thursday.

Foreign investors however remained net buyers of shares worth $2.217 million. Total market capitalization declined by Rs 57 billion to Rs 8.315 trillion. Out of total 406 active scrips, 237 closed in negative and 159 in positive while the value of 10 stocks remained unchanged.

TPL Corp was the volumes leader with 41.978 million shares and increased by Rs 1.29 to close at Rs 19.67 followed by Pace (Pak) Limited that gained Rs 0.31 to close at Rs 7.88 with 27.113 million shares. Unilever Foods and Rafhan Maize were the top gainers increasing by Rs 634.00 and Rs 501.00 respectively to close at Rs 16189.00 and Rs 10400.00 while Pak Tobacco and Gatron Industries were the top losers declining by Rs 75.44 and Rs 37.68 respectively to close at Rs 1254.56 and Rs 473.10.

BR Automobile Assembler Index lost 37.28 points or 0.38 percent to close at 9,862.44 points with total turnover of 14.015 million shares.

BR Cement Index declined by 133.48 points or 1.77 percent to close at 7,410.37 points with 27.161 million shares.

BR Commercial Banks Index fell by 33.67 points or 0.36 percent to close at 9,201.00 points with 23.132 million shares.

BR Power Generation and Distribution Index decreased by 52.01 points or 0.9 percent to close at 5,719.06 points with 15.003 million shares.

BR Oil and Gas Index closed at 4,034.22 points, down 41.49 points or 1.02 percent with 16.547 million shares.

BR Tech. & Comm. Index plunged by 102.47 points or 2.18 percent to close at 4,593.97 points with 110.137 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks fell sharply lower led by scrips across the board on concerns for weak economic outlook.

He said weak global equities, rupee instability, reports over uncertainty on EU exports GSP plus status on human right issues, concerns over non disbursement of $400 million World Bank loan delayed on weak IMF ties played catalyst role in bearish close.

Copyright Business Recorder, 2021

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