Pakistan Stock Exchange registered decline Monday as investors opted to offload their holdings due to prevailing political situation in the country. BRIndex100 lost 26.23 points or 0.61 percent to close at 4,268.59 points. BRIndex100 touched intraday high of 4,294.61 and intraday low of 4,260.69 points. Volumes stood at 99.906 million shares.
BRIndex30 gained 88.46 points or 0.42 percent to 21,377.57 points with a turnover of 82.242 million shares. The benchmark KSE-100 index declined by 216.24 points to 40,032.17 points. Daily trading volumes slightly improved to 110.952 million shares as compared to 106.330 million shares traded Friday.
Foreign investors remained net sellers of shares worth $3.180 million. Out of total 348 active scrips, 187 closed in negative, 137 in positive while the value of 24 stocks remained unchanged. K-Electric was the volume leader with 39.990 million shares. It gained Re 0.25 to close at Rs 6.26 followed by TRG Pak that increased by Rs 1.78 to close at Rs 37.39 with 12.531 million shares.
Nestle Pakistan and Rafhan Maize were the top gainers with Rs 400.00 and Rs 288.99, respectively to close at Rs 10,850.00 and Rs 6,988.99. Service Industries and Sapphire Textile were the top losers with Rs 29.80 and Rs 28.84, respectively to close at Rs 770.20 and Rs 1,745.01. BR Commercial Banks Index lost 8.24 points or 0.11 percent to close at 7,631.88 points with total turnover of 4.287 million shares.
BR Cement Index decreased by 17.32 points or 0.34 percent to close at 5,048.71 points with total volumes of 2.419 million shares. BR Oil and Gas Index declined by 37.63 points or 0.74 percent to close at 5,074.83 points with 3.402 million shares. BR Tech. & Comm. Index gained 24.26 points or 2.07 to close at 1,198.44 points with 19.474 million shares.
BR Power Generation and Distribution Index closed at 6,422.19, up 23.83 points or 0.37 percent with total turnover of 43.529 million shares. Danish Lakhani at JS Global Capital said that the KSE-100 Index remained under pressure and ended up extending losses from the previous session, closing down 216 points (down 0.5 percent) at 40,032 levels over concerns on the ongoing political environment in the country.
Major laggards remained heavyweight HUBC (down 2.99 percent), ENGRO (down 2.76 percent) and OGDC (down 1.25 percent), contributing down 112 points. E&P sector closed in the red where POL (down 1.05 percent), PPL (down 0.88 percent) and OGDC (down 1.25 percent) were the major laggards in the sector as oil prices slipped on prospects for increased output globally. Moreover, mixed sentiments were witnessed in the banking sector as heavyweight UBL (up 1.74 percent) closed in the green zone whereas HBL (down 0.93 percent) MCB (down 0.68 percent) closed in the red zone.
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