Pakistan Stock Exchange Monday saw a declining trend due to selling in various sectors by local and foreign investors.
BRIndex100 lost 20.81 points or 0.59 percent to close at 3,495.53 points. BRIndex100 touched intraday high of 3,521.33 and intraday low of 3,467.29 points. Volumes stood at 190.988 million shares.
BRIndex30 decreased by 98.77 points or 0.54 percent to close at 18,113.14 points with a daily turnover of 144.702 million shares.
The KSE-100 Index declined by 195.00 points or 0.57 percent to close at 33,916.64 points. Trading activity remained low as daily volumes on the ready counter decreased to 216.619 million shares as compared to 292.086 million shares traded last Thursday.
Foreign investors remained on the selling side and withdrew $6.6 million from the equity market. The market capitalization declined by Rs 4 billion to stand at Rs 6.372 trillion. Out of total 353 active scrips, 178 closed in negative and 155 in positive while the value of 20 stocks remained unchanged.
Maple Leaf was the volume leader with 18.316 million shares. However, it lost Re 0.80 to close at Rs 27.38 followed by Hascol Petroleum that closed at Rs 14.94, down Re 0.24 with 13.610 million shares.
Unilever Foods and Colgate Palm were the top gainers with Rs 650.00 and Rs 162.05, respectively to close at Rs 9,850.00 and Rs 2,322.80. Mari Petroleum and Atlas Honda were the top losers with Rs 44.95 and Rs 22.00, respectively to close at Rs 1124.95 and Rs 350.00.
BR Automobile Assembler Index increased by 74.12 points or 1.36 percent to close at 5,512.64 points with total turnover of 2.972 million shares.
BR Cement Index decreased by 72.59 points or 1.68 percent to close at 4,259.28 points with 43.498 million shares.
BR Commercial Banks Index lost 35.34 points or 0.51 percent to close at 6,832.86 points with 15.514 million shares.
BR Power Generation and Distribution Index declined by 167.02 points or 3.53 percent to close at 4,565.93 points with 14.923 million shares.
BR Oil and Gas Index fell by 3.29 points or 0.09 percent to close at 3,501.49 points with 41.069 million shares.
BR Tech. & Comm. Index closed at 919.47 points, up 32.04 points or 3.61 percent with 21.673 million shares.
An analyst at Arif Habib Limited that the market saw some profit-booking on the back of developing situation on international front and reclining oil prices, which also came down after posting significant gains last week.
E&P and OMCs traded considerable volume and largely maintained a higher average than last trading session. Banking sector stocks, on the other hand, posted loss amid low volumes. Prospect of rate cut kept the selling pressure on Banks which caused the index to decline by 402 points during the session. Cement sector led the volumes with 43.5 million shares, followed by O&GMCs (21.7 million shares) and Technology (21.7 million shares).
Sectors contributing to the performance include Power (down 88 points), Cement (down 51 points), Banks (down 46 points), Fertilizer (down 23 points), E&P (down 18 points) and O&GMCs (up 24 points).
Stocks that contributed positively to the index include COLG (21 points), EFERT (up 14 points), PSO (up 12 points), PIOC (up 12 points) and TRG (up 9 points). Stocks that contributed negatively include HUBC (down 76 points), ENGRO (down 29 points), MARI (down 26 points), LUCK (down 25 points) and HBL (down 21 points).
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