BRIndex100 depressed

Pakistan Stock Exchange Monday remained under pressure due to selling in various sectors. BRIndex100 lost 13.01 points or 0.29 percent to close at 4,456.55 points. BRIndex100 touched intraday high of 4,504.89 and intraday low of 4,439.62 points. Volumes stood at 61.769 million shares.
BRIndex30 closed at 22,198.50 points, down 10.73 points or 0.05 percent with a turnover of 42.476 million shares.
The benchmark KSE-100 index declined by 176.85 points or 0.42 percent to close at 41,734.05 points. Trading activity remained extremely low as daily volumes on the ready counter decreased to 84.504 million shares as compared to 166.083 million shares traded last Friday.
The market capitalization declined by Rs 46 billion to Rs 8.619 trillion. Out of total 341 active scrips, 186 closed in negative, 139 in positive while the value of 16 stocks remained unchanged.
Pak Elektron was the volume leader with 8.787 million shares. It increased by Rs 1.24 to close at Rs 36.70 followed by Siddiqsons (R) that lost Re 0.06 to close at Rs 1.24 with 6.198 million shares.
Rafhan Maize and Blessed Textile were the top gainers with Rs 340.00 and Rs 17.60, respectively to close at Rs 7,990.00 and Rs 372.90. Colgate Palmolive and Sapphire Textile were the top losers with Rs 157.00 and Rs 56.79, respectively to close at Rs 2,992.00 and Rs 1,087.01.
BR Commercial Banks Index lost 26.18 points or 0.3 percent to close at 8,610.70 points with total turnover of 7.072 million shares.
BR Cement Index declined by 82.56 points or 1.8 percent to close at 4,508.68 points with 12.209 million shares.
BR Oil and Gas Index decreased by 29.46 points or 0.55 percent to close at 5,332.10 points with 2.937 million shares.
BR Tech. & Comm. Index gained 1.88 points or 0.16 percent to close at 1,160.55 points with 6.961 million shares.
BR Power Generation and Distribution Index plunged by 92.91 points or 1.55 percent to close at 5,901.65 points with 3.827 million shares.
An analyst at Topline Securities said that the KSE-100 Index continued to decline for the second consecutive trading session with index down by 177 points in the session pulling the KSE-100 index down to 41,734 level. This brings the total decline in the index during the last two trading sessions to 264 points.
The decline can be attributed to lack of any positive triggers in the market. Although, commercial banks and fertilizer added 40 points to the index, yet the index was dragged down by Cements, Automobiles and Power Generation sectors which wiped out 116 points from the index. Top performing scripts with biggest market impact include HBL (up 1.3 percent), EFERT (up 2.4 percent) and MCB (up 1.2 percent). Commercial Banks and Fertilizer garnered some interest on expectation of uptick in interest rates and higher urea Prices.