Pakistan Stock Exchange Thursday witnessed one of the most volatile trading sessions due to panic selling while nominal recovery was witnessed at the fag end.
BRIndex100 lost 21.86 points or 0.55 percent to close at 3,969.38 points. BRIndex100 touched intraday high of 3,991.24 and intraday low of 3,829.13 points. Volumes stood at 232.514 million shares.
BRIndex30 decreased by 289.77 points or 1.43 percent to close at 19,936.00 points with a turnover of 176.467 million shares.
The KSE-100 Index declined by 251.01 points or 0.65 percent to close at 38,087.32 points. Daily trading volumes on the ready counter increased to 249.243 million shares as compared to 147.943 million shares traded Wednesday.
Foreign investors remained net sellers of shares worth $5.2 million. The market capitalization declined by Rs 79 billion to Rs 7.124 trillion. Out of total 361 active scrips, 244 closed in negative, 103 in positive while the value of 14 stocks remained unchanged.
Unity Foods was the volume leader with 29.428 million shares. However, it lost Re 0.50 to close at Rs 12.95 followed by Hascol Petroleum that declined by Re 0.81 to close at Rs 19.36 with 17.535 million shares.
Sapphire Fiber and ICI Pakistan were the top gainers with Rs 44.89 and Rs 31.65, respectively to close at Rs 889.88 and Rs 712.51. Nestle Pakistan and Unilever Foods were the top losers with Rs 245.45 and Rs 100.00, respectively to close at Rs 7,554.55 and Rs 7,200.00.
BR Automobile Assembler Index declined by 152.51 points or 2.67 percent to close at 5,565.08 points with total turnover of 2.140 million shares.
BR Cement Index gained 32.94 points or 0.9 percent to close at 3,711.22 points with 40.249 million shares.
BR Commercial Banks Index inched up by 50.82 points or 0.54 percent to close at 9,393.36 points with 26.236 million shares.
BR Power Generation and Distribution Index lost 30.46 points or 0.59 percent to close at 5,170.07 points with 10.890 million shares.
BR Oil and Gas Index decreased by 105.46 points or 2.54 percent to close at 4,043.97 points with 38.826 million shares.
BR Tech. & Comm. Index closed at 917.88 points, down 11.36 points or 1.22 percent with 18.843 million shares.
Mubashir Anis Naviwala at JS Global Capital said that the KSE-100 Index fell by as much as 3.7 percent to touch a low of 36,918. The confirmation of the coronavirus certainly had a role to play. However, the market recovered on active participation by investors and closed at a level of 38,087, down 251 points.
Major movers of the day which dragged the index down were PPL (down 3.2 percent), OGDC (down 2.6 percent), POL (down 2.8 percent) and BAHL (down 2.0 percent) while on the flipside HUBC (up 0.4 percent), UBL (up 3.6 percent), LUCK (up 1.2 percent) and ENGRO (up 0.7 percent) contributed positively to the market.
Banking and Cement sectors remained the center of attention of investors. HBL (up 1.2 percent), UBL (up 3.6 percent), MLCF (up 4.9 percent), DGKC (up 3.1 percent), LUCK (up 1.2 percent) and PIOC (up 4.0 percent) were the major movers of the mentioned sectors.
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