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KARACHI: Pakistan Stock Exchange Thursday witnessed a bearish trend and closed in deep red with heavy losses due to panic selling in almost all sectors.

BRIndex100 decreased by 58.56 points or 1.14 percent to close at 5,094.31 points. BRIndex100 hit intraday high of 5,164.97 points and intraday low of 5,089.73 points. Volumes stood at 462.521 million shares.

BRIndex30 declined by 301.66 points or 1.19 percent to close at 25,134.99 points with a turnover of 317.426 million shares.

The KSE-100 Index plunged by 510.40 points or 1.08 percent to close below 47,000 psychological level at 46,903.06 points. Daily trading volumes increased to 544.434 million shares as compared to 536.640 million shares traded Wednesday.

Foreign investors also remained net sellers of shares worth $1.721 million. The market capitalization declined by Rs 67 billion to Rs 8.240 trillion. Out of total 530 active scrips, 363 closed in negative and 139 in positive while the value of 28 stocks remained unchanged.

Ghni Glo Hol was the volume leader with 57.965 million shares and gained Rs 0.98 to close at Rs 47.18 followed by WorldCall Telecom that lost Rs 0.06 to close at Rs 3.50 with 53.341 million shares. Unilever Foods and Rafhan Maize were the top gainers increasing by Rs 1515.15 and Rs 249.00 respectively to close at Rs 21,723.37 and Rs 10,449.00 while Philip Morris Pak and Wyeth Pak were the top losers declining by Rs 55.00 and Rs 42.00 respectively to close at Rs 922.00 and Rs 1730.00.

BR Automobile Assembler Index declined by 162.23 points or 1.67 percent to close at 9,565.15 points with total turnover of 5.676 million shares.

BR Cement Index plunged by 180.17 points or 2.57 percent to close at 6,819.50 points with 22.092 million shares.

BR Commercial Banks Index decreased by 116.77 points or 1.24 percent to close at 9,315.51 points with 32.343 million shares.

BR Power Generation and Distribution Index inched up by 0.28 points to close at 5,604.39 points with 6.959 million shares.

BR Oil and Gas Index lost 34.74 points or 0.88 percent to close at 3,912.41 points with 9.827 million shares.

BR Tech. & Comm. Index closed at 4,858.16 points, down 49.76 points or 1.01 percent with 126.822 million shares.

Maaz Mulla at JS Global Capital said that the KSE-100 Index fell below 47,000 points, closing 510 below at 46,903 level.

Traded volumes stood at 544 million shares with GGL (up 2.1 percent), WTL (down 1.7 percent), ANL (up 0.1 percent), TELE (down 1.4 percent) and BYCO (up 2.3 percent) being the major contributors.

Hammering was witnessed in the Cement sector as coal prices went higher in the international market. As a result, PIOC (down 5.8 percent), CHCC (down 5.3 percent), MLCF (down 3.5 percent), DGKC (down 2.7 percent) and LUCK (down 1.6 percent) closed negative.

From the Banking sector, UBL (down 2.9 percent), HBL (down 1.9 percent) and MCB (down 1.9 percent) lost value to close in the red trajectory. Refinery sector gained on back of the news that Ministry of Energy (Petroleum Division) has finalized the modified draft Refinery Policy 2021 after incorporation of the recommendations of Cabinet Committee on Energy (CCoE), where ATRL (up 3.1 percent), NRL (up 3.4 percent), BYCO (up 2.3 percent) and PRL (up 2.1 percent) were the major gainers.

Copyright Business Recorder, 2021

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