RECORDER REPORT
KARACHI: A bearish trend continued on Pakistan Stock Exchange Tuesday. Investors remained on the selling side due to their concerns over the ongoing political situation.
BRIndex100 lost 48.67 points or 1.14 percent to close at 4,219.92 points. BRIndex100 touched intraday high of 4,274.77 and intraday low of 4,215.50 points. Volumes stood at 101.427 million shares.
BRIndex30 decreased by 251.55 points or 1.18 percent to 21,126.02 points with a turnover of 78.976 million shares.
The benchmark KSE-100 index declined by 398.04 points to close below 40,000 crucial level at 39,634.13 points. Daily trading volumes stood at 113.001 million shares as compared to 110.952 million shares traded Monday.
Foreign investors remained net sellers of shares worth $3.9 million. The market capitalization decreased by Rs 59 billion to Rs 8.309 trillion. Out of total 361 active scrips, 244 closed in negative, only 97 in positive while the value of 20 stocks remained unchanged.
K-Electric was the volume leader with 27.883 million shares. However, it lost Re 0.13 to close at Rs 6.13 followed by TRG Pak that declined by Rs 1.27 to close at Rs 36.12 with 9.208 million shares.
Pak Tobacco and Otsuka Pak were the top gainers with Rs 83.38 and Rs 12.60, respectively to close at Rs 1,751.28 and Rs 290.00. Unilever Foods and Bata Pak were the top losers with Rs 300.00 and Rs 124.50, respectively to close at Rs 7,200.00 and Rs 2,365.50.
BR Commercial Banks Index lost 9.7 points or 0.13 percent to close at 7,622.18 points with total turnover of 6.724 million shares.
BR Cement Index decreased by 66.41 points or 1.32 percent to close at 4,982.30 points with total volumes of 5.311 million shares.
BR Oil and Gas Index declined by 91.06 points or 1.79 percent to close at 4,983.77 points with 4.461 million shares.
BR Tech. & Comm. Index closed at 1,170.81 points, down 27.63 points or 2.31 percent with 13.666 million shares.
BR Power Generation and Distribution Index lost 83.01 points or 1.29 percent to close at 6,339.18 points with total turnover of 29.234 million shares.
An analyst at Topline Securities said that Pakistan’s benchmark KSE-100 index continued to slide, falling 380 points given limited support due to the prevailing political and economic situation in the country. Participants opted to square positions ahead of the upcoming MSCI rebalancing at the close of Thursday, November 30. Further, resurgence of SECP’s investigation into leakage of trading data also dampened moods. Activity was seen in ENGRO (up 1.6 percent) as the budding energy conglomerate signed a pact for another LNG terminal while participants were busy trying to preempt trading ‘calendars’ for ENGRO’s upcoming ejection from MSCI Emerging Markets Index. Top index point decliners were PPL (down 2.5 percent), OGDC (down 1.9 percent), LUCK (down 2.4 percent), PSO (down 2.7 percent) and POL (down 1.7 percent) eroding 168 points while ENGRO (up 1.6 percent) PAKT (up 5.0 percent) UBL (up 0.8 percent), SCBPL (up 4.5 percent) and IGIIL (up 1.7 percent) added 67 points. On the sector front; E&Ps shed 119 points as oil prices dipped $1/bbl overnight due to rising US output ahead of OPEC’s meeting on the 30th, Cements fell 55 points, OMC 50 points, Fertilizer 35 points, Banks 34 points, Power 18 points, while Tobacco added 21 points.
