RECORDER REPORT
KARACHI: Pakistan Stock Exchange witnessed a negative trend as investors opted to book profits on available margins.
BRIndex100 lost 51.99 points or 1.1 percent to close at 4,683.80 points Thursday. BRIndex100 touched intraday high of 4,740.03 and intraday low of 4,678.39 points. Volumes stood at 218.378 million shares.
BRIndex30 decreased by 245.56 points or 0.99 percent to 24,446.82 points with a turnover of 148.394 million shares.
The benchmark KSE-100 index declined by 416.62 points or 0.94 percent to 43,679.87 points. Trading activity remained low as daily volumes on the ready counter decreased to 246.018 million shares as compared to 269.986 million shares traded Wednesday.
Foreign investors remained net sellers of shares worth $2.5 million. The market capitalization declined by Rs 75 billion to Rs 9.076 trillion. Out of total 370 active scrips, 237 closed in negative, 117 in positive while the value of 16 stocks remained unchanged.
Bank of Punjab was the volume leader with 16.594 million shares. However, it lost Re 0.46 to close at Rs 9.72 followed by Fauji Foods that increased by Rs 1.09 to close at Rs 23.06 with 16.151 million shares.
Murree Brewery and Island Textile were the top gainers with Rs 48.00 and Rs 47.50, respectively to close at Rs 1,008.17 and Rs 997.50. Rafhan Maize and Sanofi-Aventis were the top losers with Rs 216.00 and Rs 82.37, respectively to close at Rs 7,501.00 and Rs 1,587.63.
BR Commercial Banks Index decreased by 106.58 points or 1.21 percent to close at 8,688.13 points with total turnover of 24.718 million shares.
BR Cement Index declined by 139.47 points or 2.31 percent to close at 5,889.30 points with 35.741 million shares.
BR Oil and Gas Index lost 54.14 points or 1.03 percent to close at 5,224.49 points with 18.188 million shares.
BR Tech. & Comm. Index closed at 1,222.86 points, down 20.83 points or 1.67 percent with 17.678 million shares.
BR Power Generation and Distribution Index plunged by 24.41 points or 0.37 percent to close at 6,535.64 points with 4.486 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stock market closed bearish after slump in global oil prices amid boom in US output. Oil stocks battered after WTI crude fell near to $61 and concerns loomed over global equities sell-off and foreign outflows on surging US interest rates. Dismal data for POL sales in January 2018, concerns over impact of SBP policy rate tightening on leveraged stocks and dismal financial results in cement stocks played a catalyst role in bearish close at PSX.
