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A bearish trend continued on Pakistan Stock Exchange on the second day in a row due to selling in various sectors. BRIndex100 lost 31.96 points or 0.78 percent to close at 4,045.07 points Tuesday. BRIndex100 touched intraday high of 4,089.42 and intraday low of 4,029.83 points. Volumes stood at 111.885 million shares.

BRIndex30 decreased by 126.71 points or 0.61 percent to close at 20,571.11 points with a turnover of 85.633 million shares. The KSE-100 Index declined by 285.28 points or 0.73 percent to close at 38,858.45 points. Trading activity remained low as daily volumes on the ready counter decreased to 124.348 million shares as compared to 144.282 million shares traded Monday.

Foreign investors remained net sellers of shares worth $5.5 million. The market capitalization declined by Rs 61 billion to Rs 7.294 trillion. Out of total 336 active scrips, 162 closed in negative, 159 in positive while the value of 15 stocks remained unchanged.

Unity Foods was the volume leader with 10.025 million shares. It gained Re 0.28 to close at Rs 13.55 followed by Bank of Punjab that inched up by Re 0.05 to close at Rs 12.51 with 9.156 million shares. Sapphire Textile and Sapphire Fiber were the top gainers with Rs 51.95 and Rs 48.93, respectively to close at Rs 939.90 and Rs 801.89. Rafhan Maize and Pak Tobacco were the top losers with Rs 189.00 and Rs 124.42, respectively to close at Rs 6,811.00 and Rs 1,789.86.

BR Automobile Assembler Index increased by 40.1 points or 0.7 percent to close at 5,758.28 points with total turnover of 2.086 million shares.

BR Cement Index gained 30.13 points or 0.82 percent to close at 3,717.95 points with 17.732 million shares. BR Commercial Banks Index declined by 96.41 points or 1.01 percent to close at 9,410.31 points with 17.571 million shares.

BR Power Generation and Distribution Index lost 45.91 points or 0.85 percent to close at 5,326.95 points with 10.227 million shares.

BR Oil and Gas Index decreased by 45.56 points or 1.07 percent to close at 4,204.95 points with 17.140 million shares. BR Tech. & Comm. Index closed at 947.58 points, down 1.09 points or 0.11 percent with 12.429 million shares.

Maaz Mulla at JS Global Capital said that the PSX Index moved in both directions, making an intra-day high of plus 104 points and stooping to a low of down 451 points, before closing at 38,858 levels (negative 285 points).

Major movers of the day were UBL (down 3.0 percent), PPL (down 2.9 percent), ENGRO (down 2.2 percent), HBL (down 1.6 percent), MCB (down 2.0 percent) and OGDC (down 1.9 percent).

PPL (down 2.9 percent) from the E&P sector declared its first half FY20 earnings, where the company posted an EPS of Rs 8.98 with no cash payout. Furthermore HUBC (down 1.3 percent) declared its first half FY20 result posting an EPS of Rs 2.34. Buying interest was witnessed in the cement sector where DGKC (up 1.2 percent), MLCF (up 2.1 percent), PIOC (up 2.0 percent), CHCC (up 2.4 percent) and LUCK (up 0.3 percent) were the major movers of the mentioned sector.

Copyright Business Recorder, 2020

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