KARACHI: Pakistan Stock Exchange Thursday remained under pressure and closed negative due to selling by both local and foreign investors.
The KSE-100 Index declined by 83.92 points or 0.18 percent to close at 46,110.50 points. Daily trading volumes on ready counter however increased to 263.550 million shares as compared to 238.493 million shares traded on Wednesday. Merit Pack (R ) was the volume leader with 42.181 million shares however lost Rs 0.32 to close at Rs 0.05 followed by Ghani Global Holding that increased by Rs 1.58 to close at Rs 33.23 with 29.064 million shares.
BRIndex100 lost 16.86 points or 0.35 percent to close at 4,757.75 points with total daily turnover of 167.910 million shares.
BRIndex30 decreased by 351.61 points or 1.71 percent to close at 20,179.25 points with total daily trading volumes of 105.629 million shares.
Foreign investors also remained net sellers of shares worth $2.598 million.
Total market capitalization slightly increased by Rs 2 billion to Rs 7.875 trillion. Out of total 340 active scrips, 166 closed in negative and 150 in positive while the value of 24 stocks remained unchanged.
Unilever Foods and Sapphire Fiber were the top gainers increasing by Rs 1099.99 and Rs 53.00 respectively to close at Rs 19,999.99 and Rs 893.00 while Colgate Palmolive and Sapphire Textile were the top losers declining by Rs 94.95 and Rs 42.68 respectively to close at Rs 2405.05 and Rs 1206.39.
An analyst at Arif Habib Limited said that the market continued to remain under pressure ahead of MPS announcement. With further weakening of Pak rupee against dollar and mounting inflationary expectations, investors mostly stayed in the bearish territory.
Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. Accumulation was witnessed in the banking and power stocks as investors opted for cautious approach.
In the last trading hour, sharp recovery was witnessed as short sellers jumped in to square-off trading positions.
Sectors contributing to the performance include Technology & Comm. (down 119.68 points), Fertilizers (down 39.44 points) and OMCs (down 21.43 points).
BR Automobile Assembler Index gained 6.21 points or 0.07 percent to close at 8,673.92 points with total turnover of 1.618 million shares.
BR Cement Index increased by 98.47 points or 1.61 percent to close at 6,219.11 points with 18.228 million shares.
BR Commercial Banks Index inched up by 41.35 points or 0.41 percent to close at 10,152.89 points with 14.261 million shares.
BR Power Generation and Distribution Index closed at 5,537.54 points, up 8.23 points or 0.15 percent with 6.085 million shares.
BR Oil and Gas Index lost 9.47 points or 0.25 percent to close at 3,806.27 points with 7.011 million shares.
BR Tech. & Comm. Index declined by 132.37 points or 3.0 percent to close at 4,275.30 points with 31.786 million shares.
Copyright Business Recorder, 2021
Comments
Comments are closed.