KARACHI: Despite foreign buying, Pakistan Stock Exchange Thursday closed in red zone due to selling mainly by local investors.
BRIndex100 lost 12.9 points or 0.25 percent to close at 5,101.86 points. BRIndex100 hit intraday high of 5,129.74 points and intraday low of 5,090.82 points. Volumes stood at 193.371 million shares.
BRIndex30 closed at 25,636.16, up 18.16 points or 0.07 percent with a turnover of 115.698 million shares.
The KSE-100 Index declined by 106.62 points or 0.23 percent to closed at 47,270.76 points. Trading activity remained thin as daily volumes on ready counter decreased to 230.174 million shares as compared to 382.644 million shares traded Wednesday.
Foreign investors however remained net buyers of shares worth 1.550 million. Total market capitalization declined by Rs 25 billion to Rs 8.273 trillion. Out of total 458 active scrips, 329 closed in negative and 106 in positive while the value of 23 stocks remained unchanged.
TRG Pak was the volume leader with 19.225 million shares and increased by Rs 3.69 to close at Rs 163.92 followed by Ghani Glo Hol that closed at Rs 43.42, down Rs 0.01 with 15.077 million shares. Siemens Pak and Blessed Textile were the top gainers increasing by Rs 44.62 and Rs 29.46 respectively to close at Rs 639.62 and Rs 459.99 while Sapphire Fiber and Wyeth Pak were the top losers declining by Rs 70.12 and Rs 20.00 respectively to close at Rs 864.87 and Rs 1980.00.
BR Automobile Assembler Index decreased by 57.2 points or 0.58 percent to close at 9,802.33 points with total turnover of 2.960 million shares.
BR Cement Index lost 15.73 points or 0.22 percent to close at 7,096.30 points with 7.428 million shares.
BR Commercial Banks Index gained 40.11 points or 0.43 percent to close at 9,439.27 points with 14.838 million shares.
BR Power Generation and Distribution Index fell by 42.49 points or 0.77 percent to close at 5,457.56 points with 4.490 million shares.
BR Oil and Gas Index closed at 3,932.61 points, down 28.08 points or 0.71 percent with 10.852 million shares.
BR Tech. & Comm. Index inched up by 30.46 points or 0.66 percent to close at 4,657.02 points with 58.869 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed bearish on concerns for regional uncertainty and dismal economic outlook amid Covid outbreak. Autos and banking stocks outperformed amid surge in car sales by 104 percent on year-on-year basis in July 2021 and robust financial results in the banking sector.
He said weaker Pak rupee and uncertainty over release of next IMF tranche played catalyst role in bearish close.
Copyright Business Recorder, 2021
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