BRIndex100 decreases

Pakistan Stock Exchange remained under pressure and closed on negative note on the fourth consecutive day of this week due to selling in various sectors. BRIndex100 lost 56.97 points or 1.42 percent to close at 3,942.10 points on Thursday. During the session, the BRIndex-100 touched an intraday high of 4,002.37 and an intraday low of 3,932.10 points. Total volumes stood at 82.627 million shares.
BRIndex30 decreased by 386.28 points or 1.89 percent to close at 20,066.62 points with total turnover of 66.606 million shares. KSE-100 index declined by 506.68 points or 1.33 percent and closed at 37,516.12 points. Trading activities remained low as daily volumes on ready counter decreased to 127.962 million shares as compared to 153.268 million shares traded on Wednesday.
The foreign investors remained net sellers of shares worth $0.7 million. Total market capitalization declined by Rs 108 billion to Rs 7.628 trillion. Out of total 347 active scrips, 271 closed in negative and only 53 in positive while the value of 23 stocks remained unchanged.
Unity Foods (R) was the volume leader with 37.534 million shares and gained Re 0.49 to close at Rs 3.91 followed by WorldCall Telecom that lost Re 0.03 to close at Rs 1.10 with 10.430 million shares. Service Ind Limited and Shezan International were the top gainers increasing by Rs 35.17 and Rs 17.63 respectively to close at Rs 738.62 and Rs 480.00 while Unilever Foods and Pak Tobacco were the top losers declining by Rs 332.50 and Rs 67.23 respectively to close at Rs 6317.50 and Rs 2582.77.
BR Commercial Banks Index declined by 85.84 points or 1.03 percent to close at 8,214.52 points with total turnover of 15.610 million shares. BR Cement Index decreased by 72.12 points or 1.88 percent to close at 3,759.79 points with 12.603 million shares. BR Oil and Gas Index closed at 4,616.65 points, down 67.12 points or 1.43 percent with 4.944 million.
BR Tech & Comm Index lost 23.24 points or 2.49 percent to close at 910.58 points with 14.576 million shares. BR Power Generation and Distribution Index plunged by 132.52 points or 2.5 percent to close at 5,164.02 points with 10.171 million shares. An analyst at Topline Securities said that Pakistan equities faced fourth consecutive negative session, down 1.3 percent in the trading session, marking its lowest index level of 2019. Prevailing negative sentiments were further fueled by recent Asian Development Bank (ADB) report on Pakistan economy which estimated Pakistan's GDP at 3.6-3.9 percent during FY19-20.
Auto stocks depicted negative trend despite news that stated, possible withdrawing of 10 percent FED on vehicles above 1700 CC, where HCAR and INDU both lost 2-4 percent in their share price.