RECORDER REPORT

KARACHI: Pakistan Stock Exchange witnessed a bearish trend due to selling, mainly by foreign investors in different sectors.

BRIndex100 lost 21.9 points or 0.47 percent to close at 4,651.70 points Tuesday. The index touched intraday high of 4,684.27 points and an intraday low of 4,646.36 points. The volume stood at 120.791 million shares.

BRIndex30 increased by 236.66 points or 1.02 percent to close at 23,421.76 points with total volume of 76.688 million shares.

The benchmark KSE-100 index declined by 77.42 points to 42,666.23 points. Daily trading volumes increased to 145.412 million shares as compared to 126.230 million shares traded Monday.

Foreign investors were net sellers of shares worth $6.6 million. The market capitalization increased by Rs 2 billion to Rs 8.883 trillion. Out of total 370 active scrips, 223 closed in negative, 127 in positive while the value of 20 stocks remained unchanged.

K-Electric was the volume leader with 33.805 million shares. It gained Rs 0.58 to close at Rs 6.89 followed by Dolman City that closed at Rs 11.00, up Rs 0.09 with 8.207 million shares.

Unilever Foods and Khyber Tobacco were the top gainers with Rs 100.00 and Rs 3.00, respectively to close at Rs 6,550.00 and Rs 777.00. Wyeth Pak and Murree Brewery were the top losers with Rs 109.50 and Rs 31.32, respectively to close at Rs 2,080.50 and Rs 727.00.

BR Commercial Banks Index closed at 8,305.84 points, down 3.37 points or 0.04 percent with total turnover of 14.018 million shares.

BR Cement Index lost 68.43 points or 1.14 percent to close at 5,947.43 points with total turnover of 12.826 million shares.

BR Oil and Gas Index gained 34.14 points or 0.69 percent to close at 4,964.07 points with 9.196 million shares.

BR Tech. & Comm. Index closed at 1,273.53 points, down 2.33 points or 0.18 percent with total turnover of 8.678 million shares.

BR Power Generation and Distribution Index increased by 223.66 points or 3.24 percent and closed at 7,120.34 points with total turnover of 36.549 million shares.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower amid pressure on political uncertainty. Oil stocks out-performed on surging global crude prices and reports of ADB approval of $800 million infrastructure financing. He said concerns for economic uncertainty and uncertainty in global equities played a catalyst role in bearish close in the futures rollover week.

Maaz Mulla at JS Global Capital said that volatility prevailed in the market as index remained rangebound trading between minus 144 to plus 214 points and closing at 42,666 level, down 77 points. POL (up 3.53 percent), ATRL (up 0.83 percent), INDU (up 0.96 percent) and MTL (up 0.67 percent) were the major leaders for the day cumulatively contributing positive 48 points to the index. On the other hand, LUCK (down 1.06 percent), HBL (down 2.57 percent), ENGRO (down 1.19 percent) and NBP (down 5 percent) were the major laggards, taking the index down by 135 points. Crude oil prices hovered near 26-month high, supported by Turkey’s threat to cut crude exports from Iraq’s Kurdistan region, leading to E&P sector closing in the green zone, where POL (up 3.53 percent) and PPL (up 1.25 percent) were the major gainers in the aforementioned sector. NBP (down 5 percent) from the banking sector closed at its lower circuit for second consecutive day on Supreme Court’s judgment in favor of the pensioners of National Bank of Pakistan (NBP) which will likely cost the bank approximately Rs 47.7 billion. Selling pressure was witnessed in the cement sector where heavyweights LUCK (down 1.06 percent), DGKC (down 0.86 percent), KOHC (down 2.56 percent) and MLCF (down 1.22 percent) closed in the red zone.