KARACHI: Pakistan Stock Exchange Friday remained under pressure and closed in deep red due to heavy selling by local and foreign investors following concerns over increasing coronavirus cases and lockdown decision.
BRIndex100 lost 33.33 points or 0.66 percent to close at 5,053.51 points. BRIndex100 hit intraday high of 5,140.18 points and intraday low of 5,040.54 points. Volumes stood at 347.422 million shares.
BRIndex30 declined by 382.71 points or 1.49 percent to close at 25,255.22 points with a turnover of 235.440 million shares.
The KSE-100 Index plunged by 257.04 points or 0.54 percent to close at 47,055.29 points. Daily trading volumes on ready counter stood at 399.093 million shares as compared to 376.447 million shares traded Thursday.
Foreign investors also remained net sellers of shares worth $970,244. Total market capitalization declined by Rs 26 billion to Rs 8.242 trillion. Out of total 407 active scrips, 252 closed in negative and 139 in positive while the value of 16 stocks remained unchanged.
WorldCall Telecom was the volume leader with 39.177 million shares and gained Rs 0.04 to close at Rs 3.46 followed by Byco Petroleum that lost Rs 0.22 to close at Rs 9.77 with 38.439 million shares. Siemens Pak and Colgate Palmolive were the top gainers increasing by Rs 44.49 and Rs 28.20 respectively to close at Rs 637.82 and Rs 2810.71 while Sapphire Fiber and Wyeth Pak were the top losers declining by Rs 44.99 and Rs 31.88 respectively to close at Rs 855.00 and Rs 1987.50.
BR Automobile Assembler Index declined by 120.49 points or 1.23 percent to close at 9,713.51 points with total turnover of 6.490 million shares.
BR Cement Index lost 45.6 points or 0.63 percent to close at 7,161.42 points with 12.210 million shares.
BR Commercial Banks Index fell by 21.7 points or 0.23 percent to close at 9,252.72 points with 22.509 million shares.
BR Power Generation and Distribution Index decreased by 22.06 points or 0.4 percent to close at 5,542.65 points with 13.135 million shares.
BR Oil and Gas Index closed at 3,938.94 points, down 14.84 points or 0.38 percent with 21.031 million shares.
BR Tech. & Comm. Index plunged by 77.35 points or 1.68 percent to close at 4,523.30 points with 119.452 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower in late session selling on concerns for foreign outflows and provincial decision for lockdowns amid Covid outbreak. Early session support was witnessed amid reports of surge in regional exports by 9 percent in FY21, strong financial results in banking and fertilizer sectors.
He said weak global equities and investor concerns for potential economic impact of Covid outbreak played catalyst role in bearish close.
Copyright Business Recorder, 2021