BRIndex100 edges down


KARACHI: Investors opted to book profit on available margins that forced the Pakistan Stock Exchange to close on a negative note Wednesday. BRIndex100 lost 22.35 points or 0.46 percent to close at 4,832.95 points. BRIndex100 hit intraday high of 4,852.56 and intraday low of 4,809.93 points. Volumes stood at 435.827 million shares.

BRIndex30 decreased by 86.65 points or 0.35 percent to close at 24,693.29 points with a turnover of 338.788 million shares.

The KSE-100 Index declined by 226.29 points or 0.49 percent to close at 45,676.94 points. Daily trading volumes on the ready counter decreased to 476.618 million shares as compared to 491.787 million shares traded Tuesday.

Foreign investors also remained net sellers of shares worth $146,078. Total market capitalization declined by Rs 24 billion to Rs 8.277 trillion. Out of total 413 active scrips, 246 closed in negative and 150 in positive while the value of 17 stocks remained unchanged.

Silk Bank was the volume leader with 42.706 million shares and gained Rs 0.09 to close at Rs 1.29 followed by Unity Foods that increased by Rs 1.80 to close at Rs 34.18 with 41.064 million shares. Island Textile and Sapphire Textile were the top gainers increasing by Rs 128.71 and Rs 26.34 respectively to close at Rs 1844.94 and Rs 1041.33 while Rafhan Maize and AKD Capital were the top losers declining by Rs 89.99 and Rs 33.69 respectively to close at Rs 9900.00 and Rs 415.64.

BR Automobile Assembler Index lost 7.05 points or 0.08 percent to close at 8,553.39 points with a total turnover of 2.027 million shares.

BR Cement Index decreased by 34.22 points or 0.55 percent to close at 6,197.07 points with 48.105 million shares.

BR Commercial Banks Index fell by 39.25 points or 0.41 percent to close at 9,470.15 points with 72.867 million shares.

BR Power Generation and Distribution Index declined by 42.45 points or 0.73 percent to close at 5,812.70 points with 36.238 million shares.

BR Oil and Gas Index plunged by 32.49 points or 0.77 percent to close at 4,208.19 points with 20.671 million shares.

BR Tech. & Comm. Index closed at 3,020.82 points, down 17.12 points or 0.56 percent with 89.353 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower in the earnings season rally on institutional profit-taking in overbought scrips and concerns for ongoing political uncertainty.

He said investor concerns over falling rupee, rising circular debt and uncertainty over SBP policy announcement this week played a catalyst role for bearish close.