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Pakistan Stock Exchange Monday witnessed a bearish trend in the first trading session in Ramazan but closed in deep red with low volumes.

BRIndex100 lost 50.05 points or 1.49 percent to close at 3,319.44 points. BRIndex100 touched intraday high of 3,369.66 and intraday low of 3,292.01 points. Volumes stood at 108.842 million shares.

BRIndex30 decreased by 320.3 points or 1.89 percent to close at 16,667.29 points with a turnover of 75.107 million shares.

The KSE-100 Index declined by 491.81 points or 1.50 percent to close at 32,314.57 points. Daily trading volumes on the ready counter stood at 122.282 million shares as compared to already low volumes of 120.578 million shares recorded last Friday.

Foreign investors remained net sellers of shares worth $1.271 million. The market capitalization declined by Rs 73 billion to stand at Rs 6.094 trillion. Out of total 328 active scrips, 198 closed in negative, only 97 in positive while the value of 33 stocks remained unchanged.

Maple Leaf was the volume leader with 17.346 million shares. However, it lost Re 0.92 to close at Rs 25.95 followed by Hascol Petroleum that closed at Rs 14.50, down Re 0.10 with 7.405 million shares.

Unilever Foods and Pak Tobacco were the top gainers with Rs 167.67 and Rs 50.00, respectively to close at Rs 8,166.67 and Rs 1,679.67. Philip Morris Pak and Nestle Pakistan were the top losers with Rs 130.46 and Rs 90.00, respectively to close at Rs 1,800.01 and Rs 5,548.00.

BR Automobile Assembler Index lost 30.53 points or 0.59 percent to close at 5,101.71 points with total turnover of 319,390 shares.

BR Cement Index plunged by 126.25 points or 3.03 percent to close at 4,037.82 points with 41.486 million shares.

BR Commercial Banks Index fell by 74.14 points or 1.08 percent to close at 6,803.53 points with 9.290 million shares.

BR Power Generation and Distribution Index declined by 105.66 points or 2.42 percent to close at 4,263.64 points with 6.775 million shares.

BR Oil and Gas Index decreased by 74.09 points or 2.3 percent to close at 3,149.92 points with 16.251 million shares.

BR Tech. & Comm. Index closed at 836.57 points, down 28.09 points or 3.25 percent with 6.093 million shares.

Danish Ladhani at JS Global Capital said that the KSE-100 Index closed on a negative note at 32,314 levels, down 1.5 percent after a bleak trading session. Overall, the volumes remained slack with petite participation from the investors due to Ramadan.

In the Financials, BAFL (down 3.2 percent) announced its first quarter of CY20 consolidated EPS of Rs 1.63 against Rs 1.79 in the same period last year with no cash payout. In the Fertilizers, FFC (up 0.4 percent) announced its consolidated EPS of Rs 3.37 for the quarter with a cash dividend of Rs 2.5/share.

OGDC (down 2.0 percent) and POL (down 2.1 percent) closed in the negative territory following a fall in international oil prices as U.S. storages near all-time highs. Profit taking was witnessed in the Cements where KOHC (down 7.5 percent) closed in the lower circuit. UBL (down 2.9 percent), LUCK (down 2.9 percent), BAFL (down 3.2 percent), POL (down 2.1 percent), OGDC (down 2.0 percent), ENGRO (down 1.5 percent), MCB (down 0.3 percent) and HBL (down 0.3 percent) cumulatively contributed towards the negative index close.

Copyright Business Recorder, 2020