KARACHI: Pakistan Stock Exchange (PSX) Friday closed lower on profit-taking and FATF decision of Pakistan retention in the ‘grey list’. BRIndex100 lost 32.46 points or 0.68 percent and closed at 4,733.01 points compared to 4,765.47 points a day earlier. It touched an intraday high of 4,779.69 points and an intraday low of 4,664.66 points. Total share trading volume was 269.783 million and Hum Network was the most traded company in BRIndex100 with a volume of 35.866 million shares.
BRIndex30 closed at 20,339.35 points which was 310.93 points or 1.51 percent lower than previous close of 20,650.28 points. It touched an intraday high of 20,760.66 points and an intraday low of 19,945.63 points with total volume of 185.377 million shares.
The benchmark KSE-100 Index opened on a positive note, making an intraday high of 212 points, however failed to sustain its momentum. The KSE-100 Index fell by 243 points to close at 45,578 points down from 45,821 points Thursday.
Share trading volumes on ready counter also declined to 300 million shares from 338 million a day earlier.
The market capitalization stood at Rs 7.863 trillion, down Rs 34 billion. Out of total 346 active scrips, 129 closed in positive and 208 in negative while the value of 9 stocks remained unchanged.
Analysts said that profit-taking, FATF decision of retention in the grey list and protest by right wing religious party and opposition party alliance across Pakistan pushed the stock downward side.
Ahsan Mehanti of Arif Habib Corp said that stocks closed lower amid pressure on concerns over surge in Govt bond yields, delay in Pak IMF resolve over EFF and FATF decision over status quo and retention in the grey list. Economic uncertainty, surging trade deficit and weakening rupee played a catalyst role in bearish close, he added.
Hum News was the volume leader with 35.86 million shares and closed at Rs 6.67 followed by Unity Foods that closed at Rs 29.31 with 22.539 million shares. World Call Telecom ranked third with 21 million shares and it closed at Rs 2.37.
Sapphire Tex and Rafhan Maize were the top gainers increasing by Rs 74.50 and Rs 60.01 respectively to close at Rs 1,195.00 and Rs 10,350.00 respectively. Nestle Pakistan and Wyeth Pak were the top losers declining by Rs 80.00 and Rs 55.32 respectively to close at Rs 5,720.00 and Rs 1,503.33.
BR Automobile Assembler Index declined by 95.85 points to close at 8,382.66 points with a total turnover of 969,460. BR Cement Index closed at 5,876.80 points with a net positive change of 43.67 points or a percentage change of 0.75 and a total turnover of 41,588,905.
BR Commercial Banks Index lost 3.65 points to close at 10,170.23 with a total turnover of 21,651,793. BR Power Generation and Distribution Index closed at 5,462.83 with a net negative change of -39.35 points or a percentage change of -0.72 and a total turnover of 4,955,935.
BR Oil and Gas Index closed at 3,888.88 with a net negative change of -62.61 points or a percentage change of -1.58 and a total turnover of 7,311,846. BR Tech. & Comm. Index closed at 4,164.46 with a net negative change of -71.25 points or a percentage change of -1.68 and a total turnover of 100,045,682.
Major contribution to the index came from HBL, UBL, AICL, CHCC and THALL, as they cumulatively contributed 104 points to the index, on the flip side TRG, ENGRO, PPL, PSO and OGDC, as they cumulatively contributed 167 points to the index.
Copyright Business Recorder, 2021
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