RECORDER REPORT
KARACHI: Pakistan Stock Exchange witnessed a bearish trend due to investors concerns over the prevailing political situation in the country.
BRIndex100 lost 69.85 points or 1.52 percent to 4,538.67 points Monday. BRIndex100 touched intraday high of 4,608.12 and intraday low of 4,532.17 points. Volumes stood at 121.340 million shares.
BRIndex30 decreased by 364.86 points or 1.54 percent to 23,307.54 points with a turnover of 85.574 million shares.
The benchmark KSE-100 index declined by 586.23 points or 1.43 percent to 42,347.49 points. Trading activity remained very low as daily volumes on the ready counter decreased to 130.479 million shares as compared to 238.673 million shares traded Friday.
The market capitalization declined by Rs 104 billion to Rs 8.801 trillion. Out of total 356 active scrips, 249 closed in negative, only 95 in positive while the value of 12 stocks remained unchanged.
Azgard Nine was the volume leader with 19.074 million shares. It gained Re 0.32 to close at Rs 13.97 followed by TRG Pak that declined by Rs 1.64 to close at Rs 31.25 with 8.556 million shares.
Bhanero Textile and Khyber Tobacco were the top gainers with Rs 39.99 and Rs 31.38, respectively to close at Rs 839.98 and Rs 659.12. Bata Pak and Pak Tobacco were the top losers with Rs 120.00 and Rs 50.74, respectively to close at Rs 2,400.00 and Rs 2,092.73.
BR Commercial Banks Index plunged by 109.68 points or 1.25 percent to close at 8,633.76 points with total turnover of 8.712 million shares.
BR Cement Index lost 58.34 points or 1.06 percent to close at 5,463.59 points with 10.051 million shares.
BR Oil and Gas Index decreased by 61.34 points or 1.18 percent to close at 5,156.02 points with 9.918 million shares.
BR Tech. & Comm. Index closed at 1,115.35 points, down 34.84 points or 3.03 percent with 12.686 million shares.
BR Power Generation and Distribution Index lost 86.64 points or 1.37 percent to close at 6,244.23 points with 5.244 million shares.
An analyst at Topline Securities said that the investors were clearly spooked by upcoming street protests by opposition parties (from January 17), hence opting to remain on the sidelines. Consequently KSE-100 index tanked 586 points/1.4 percent to close at 42,347points mark.
Despite WTI crude oil trading well above $64/bbl, little support was seen from E&Ps besides OGDC.
Top 10 Index point decliners were HBL (down 2.2 percent), UBL (down 2.7 percent), FFC (down 2.7 percent), POL (down 3.5 percent), PPL (down 1.3 percent), PSO (down 3.5 percent), MCB (down 1.7 percent), ISL (down 4.5 percent), TRG (down 5 percent) and INIL (down 5 percent); withholding 334 points, while ENGRO (up 0.3 percent), OGDC (up 0.1 percent), DAWH (up 0.9 percent), ABL (up 0.6 percent) and BAHL (up 0.1 percent) added 37 points.
On the sector front; index heavy Banks shed 150 points, followed by E&Ps which eroded 74 points, Fertilizer was down 51 points, OMCs 45 points, Engineering 43 points, Power 29 points, Tech 24 points and Cement 21 points, whereas no major sectors were positive.
