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Pakistan Stock Exchange remained under pressure due to selling in various sectors. BRIndex100 lost 19.69 points or 0.5 percent to close at 3,934.54 points on Wednesday. During the session, the BRIndex-100 touched an intraday high of 4,018.75 and an intraday low of 3,933.28 points. Total volumes stood at 125.619 million shares.
BRIndex30 decreased by 116.03 points or 0.55 percent to close at 20,821.40 points with total turnover of 82.560 million shares.
KSE-100 index declined by 200.52 points or 0.53 percent and closed at 37,795.25 points. Daily trading volumes increased to 133.646 million shares as compared to 96.662 million shares traded on Tuesday.
The foreign investors remained net sellers of shares worth $0.2 million. Total market capitalization declined by Rs 64 billion to Rs 7.788 trillion. Out of total 336 active scrips, 224 closed in negative and only 93 in positive while the value of 19 stocks remained unchanged.
TRG Pak was the volume leader with 11.657 million shares and closed at Rs 23.40, down Rs 0.01 followed by Lotte Chemical that lost Rs 0.68 to close at Rs 17.01 with 10.860 million shares. Mari Petroleum and Shezan International were the top gainers increasing by Rs 17.60 and Rs 12.25 respectively to close at Rs 1286.79 and Rs 475.00 while Nestle Pakistan and Millat Tractors were the top losers declining by Rs 470.00 and Rs 40.47 respectively to close at Rs 8930.00 and Rs 780.01.
BR Commercial Banks Index lost 28.82 points or 0.36 percent to close at 8,063.84 points with total turnover of 17.184 million shares.
BR Cement Index declined by 79.34 points or 1.92 percent to close at 4,058.49 points with 21.649 million shares.
BR Oil and Gas Index decreased by 26.95 points or 0.59 percent to close at 4,544.86 points with 7.294 million shares.
BR Tech & Comm Index closed at 970.70 points, down 2.78 points or 0.29 percent with 14.868 million shares.
BR Power Generation and Distribution Index plunged by 61.36 points or 1.02 percent to close at 5,983.42 points with 5.743 million shares.
Maaz Mulla at JS Global Capital said that the market closed on a negative note, as the KSE-100 index shed 200 points, decreasing by 0.5 percent from the previous trading session. The index opened positively, continuing on an upward trajectory, making a high of plus 453 points; however, it slid in the second half of the trading session to close at 37,795 level.
Major contribution to the KSE-100 index came from BAHL (up 4.0 percent), BAFL (up 5.0 percent), ENGRO (up 1.1 percent) and UBL (up 0.8 percent) cumulatively contributing plus 104 points to the index. On the flipside, MCB (down 3.1 percent), LUCK (down 3.5 percent) and POL (down 3.3 percent) were the major stocks that dragged the index down by 140 points.
Cement sector witnessed selling pressure as the major players lost value to close in the red zone. LUCK (down 3.5), DGKC (down 1.6 percent), CHCC (down 2.1 percent), FCCL (down 1.0 percent) and KOHC (down 1.5 percent) were the major losers of the aforementioned sector.
E&P sector closed lower than its previous day close as crude oil prices edged lower in the international market. POL (down 3.3 percent) and PPL (down 0.5 percent) were the major victims of the mentioned sector.

Copyright Business Recorder, 2019

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