KARACHI: After positive opening, Pakistan Stock Exchange witnessed selling pressure in almost all sectors and closed in deep red with heavy losses on Friday.
BRIndex100 decreased by 47.36 points or 0.94 percent to close at 4,981.17 points. BRIndex100 hit intraday high of 5,060.09 points and intraday low of 4,971.85 points. Volumes stood at 350.590 million shares.
BRIndex30 declined by 289.09 points or 1.17 percent to close at 24,491.50 points with total daily turnover of 201.677 million shares.
The KSE-100 Index plunged by 284.38 points or 0.61 percent and closed at 46,636.08 points. Trading activity also remained low as daily volumes on ready counter decreased to 387.292 million shares as compared to 405.178 million shares traded Thursday.
Foreign investors however emerged net buyers of shares worth $4.203 million. Total market capitalization declined by Rs 44 billion to Rs 8.135 trillion. Out of total 525 active scrips, 327 closed in negative and 173 in positive while the value of 25 stocks remained unchanged.
WorldCall Telecom was the volume leader with 42.415 million shares however lost Rs 0.07 to close at Rs 3.25 followed by TRG Pak that declined by Rs 2.61 to close at Rs 174.05 with 25.234 million shares. Gatron Industries and Ismail Industries were the top gainers increasing by Rs 36.32 and Rs 29.01 respectively to close at Rs 527.50 and Rs 449.00 while Rafhan Maize and Nestle Pakistan were the top losers declining by Rs 200.00 and Rs 77.00 respectively to close at Rs 10800.00 and Rs 5910.00.
BR Automobile Assembler Index gained 25.71 points or 0.28 percent to close at 9,185.03 points with total turnover of 3.295 million shares.
BR Cement Index declined by 81.78 points or 1.29 percent to close at 6,260.97 points with 23.490 million shares.
BR Commercial Banks Index decreased by 45.16 points or 0.47 percent to close at 9,595.80 points with 61.249 million shares.
BR Power Generation and Distribution Index lost 36.65 points or 0.66 percent to close at 5,544.63 points with 9.478 million shares. BR Oil and Gas Index closed at 3,815.82 points, down 25.66 points or 0.67 percent with 20.874 million shares.
BR Tech. & Comm. Index plunged by 92.42 points or 1.75 percent to close at 5,178.38 points with 110.781 million shares.Ahsan Mehanti at Arif Habib Corporation said that stocks closed lower on speculations over SBP policy rate announcement next week and investor concerns on foreign outflows.
He said dismal data on current account deficit surging to $1.476 billion in August 2021, weak global crude oil prices, and uncertainty over rupee parity played a catalyst role in bearish close.
Copyright Business Recorder, 2021