KSE-100 Index tumbles: BRIndex100 flat

Pakistan Stock Exchange Monday witnessed a declining trend as investors remained on the selling side due to their concerns over the deadly coronavirus spread.
BRIndex100 lost 4.39 points or 0.15 percent to close at 2,845.20 points. BRIndex100 touched intraday high of 2,850.39 and intraday low of 2,757.39 points. Volume stood at 143.901 million shares.
BRIndex30 decreased by 99.45 points or 0.71 percent to close at 13,828.30 points with a turnover of 117.050 million shares.
The KSE-100 Index hit 27,461.59 points intraday low level, however partially recovered its losses and closed at 28,023.39 points, down 86.18 points or 0.31 percent. Trading activity remained low as daily volumes on the ready counter decreased to 159.469 million shares as compared to 169.438 million shares traded last Friday.
The market capitalization declined by Rs 44 billion to Rs 5.430 trillion. Out of total 328 active scrips, 166 closed in positive, 145in negative while the value of 17 stocks remained unchanged.
K-Electric was the volume leader with 34.974 million shares however lost Rs 0.06 to close at Rs 2.65 followed by Maple Leaf that increased by Rs 1.34 to close at Rs 19.33 with 9.571 million shares. Rafhan Maize and Wyeth Pak were the top gainers increasing by Rs 100.00 and Rs 40.00 respectively to close at Rs 6500.00 and Rs 640.00 while Bata Pak and Pak Tobacco were the top losers declining by Rs 77.99 and Rs 67.98 respectively to close at Rs 1397.00 and Rs 1632.00.
BR Automobile Assembler Index lost 40.59 points or 0.98 percent to close at 4,096.42 points with total turnover of 915,100 shares.
BR Cement Index surged by 189.17 points or 6.61 percent to close at 3,053.08 points with 29.519 million shares.
BR Commercial Banks Index decreased by 74.76 points or 1.16 percent to close at 6,357.79 points with 17.978 million shares.
BR Power Generation and Distribution Index increased by 94.25 points or 2.57 percent to close at 3,754.72 points with 40.974 million shares.
BR Oil and Gas Index fell by 80.21 points or 3.01 percent to close at 2,586.42 points with 20.148 million shares.
BR Tech. & Comm. Index closed at 652.17 points, up 9.1 points or 1.42 percent with 9.509 million shares.
Maaz Mullah at JS Global Capital said a volatile session was witnessed at the local bourse where the market made an intraday low of negative 642 points. However, recovery was witnessed in the second half following which market closed at 28,023 level, down 86 points.
Cement sector continued their upward gains where DGKC (up 6.8 percent), MLCF (up 7.4 percent), LUCK (up 6.8 percent), FCCL (up 7.7 percent), PIOC (up 7.5 percent) and CHCC (up 7.5 percent) closed near to their respective upper circuits.
Pressure was witnessed in the banking and E&P sector where major losers were UBL (down 1.9 percent), MCB (down 1.1 percent), NBP (down 3.7 percent), BOP (down 3.8 percent), PPL (down 6.7 percent) and OGDC (down 4.2 percent) which dragged the index downwards.