RECORDER REPORT
KARACHI: Due to selling in various sectors, a bearish trend continued on Pakistan Stock Exchange Wednesday.
BRIndex100 lost 32.61 points or 0.69 percent to close at 4,676.84 points. BRIndex100 touched intraday high of 4,712.52 and intraday low of 4,674.15 points. Volumes stood at 102.028 million shares.
BRIndex30 decreased by 261.97 points or 1.07 percent to 24,238.10 points with a turnover of 60.075 million shares.
The benchmark KSE-100 index declined by 263.92 points to close at 43,441.18 points. Trading activity remained low as daily volumes decreased to 142.428 million shares as compared to 177.594 million shares traded Tuesday.
Foreign investors remained net sellers of shares worth $1.8 million. The market capitalization declined by Rs 63 billion to Rs 9.072 trillion. Out of total 365 active scrips, 240 closed in negative, 103 in positive while the value of 22 stocks remained unchanged.
Matco Foods was the volume leader with 12.791 million shares. It increased by Rs 1.38 to close at Rs 31.60 followed by P.I.A.C. (A) that gained Re 0.24 to close at Rs 5.56 with 9.475 million shares.
Rafhan Maize and Unilever Foods were the top gainers with Rs 379.95 and Rs 200.00, respectively to close at Rs 7,978.95 and Rs 9,500.00. Pak Tobacco and Sanofi-Aventis were the top losers with Rs 105.00 and Rs 77.75, respectively to close at Rs 1,995.10 and Rs 1,477.25.
BR Commercial Banks Index lost 25.49 points or 0.29 percent to close at 8,743.24 points with total turnover of 13.496 million shares.
BR Cement Index declined by 106.91 points or 1.77 percent to close at 5,918.32 points with 12.981 million shares.
BR Oil and Gas Index decreased by 21.65 points or 0.42 percent to close at 5,148.71 points with 7.182 million shares.
BR Tech. & Comm. Index closed at 1,212.71 points, down 8.94 points or 0.73 percent with 8.022 million shares.
BR Power Generation and Distribution Index gained 17.96 points or 0.28 percent to close at 6,411.70 points with 4.739 million shares.
Maaz Mulla at JS Global Capital said that the KSE-100 index opened positive but remained under pressure throughout the day making an intraday low of minus 289 points, to finally close at 43,441 levels, down 264 points.
Major laggards to the index were HBL (down 1.34 percent), LUCK (down 1.54 percent), ENGRO (down 1.26 percent), MLCF (down 4.15 percent) and KAPCO (down 0.11 percent) contributing minus 111 points to the index. Selling pressure was witnessed in the Cement sector as heavyweights such as DGKC (down 0.92 percent), LUCK (down 1.54 percent), FCCL (down 3.25 percent) and PIOC (down 2.51 percent) closed in the red zone.
E&P sector lost value to close lower than its previous day close where PPL (down 0.58 percent) and OGDC (down 0.01 percent) were the major losers of the sector. Banking space mostly closed in the red as heavyweights such as HBL (down 1.34 percent), NBP (down 1.05 percent) and MCB (down 0.14 percent) closed in the negative zone.
