RECORDER REPORT
KARACHI: Pakistan Stock Exchange witnessed a negative trend Wednesday as investors preferred to book profits on available margins.
BRIndex100 lost 33.62 points or 0.72 percent to close at 4,663.39 points. BRIndex100 touched intraday high of 4,697.51 and intraday low of 4,660.25 points. Volumes stood at 168.361 million shares.
BRIndex30 decreased by 229.14 points or 0.95 percent to 23,990.43 points with a turnover of 103.465 million shares.
The benchmark KSE-100 index surged by 210.36 points to 43,407.72 points. Trading activity also improved as daily volumes on the ready counter increased to 198.432 million shares as compared to 152.323 million shares traded Tuesday.
Foreign investors remained net sellers of shares worth $3.3 million. Out of total 379 active scrips, 186 closed in positive, 173 in negative while the value of 20 stocks remained unchanged.
Lotte Chemical was the volume leader with 32.208 million shares. It gained Re 0.67 to close at Rs 9.77 followed by Fauji Foods that increased by Rs 1.36 to close at Rs 28.64 with 12.804 million shares.
Pak Tobacco and Wyeth Pak were the top gainers with Rs 64.95 and Rs 53.17, respectively to close at Rs 2,100.00 and Rs 2,134.17. Bhanero Textile and Bata Pak were the top losers with Rs 35.00 and Rs 28.83, respectively to close at Rs 665.00 and Rs 2,900.00.
BR Commercial Banks Index declined by 53.04 points or 0.61 percent to close at 8,691.27 points with total turnover of 12.289 million shares.
BR Cement Index decreased by 66.08 points or 1.11 percent to close at 5,894.35 points with 13.768 million shares.
BR Oil and Gas Index lost 22.49 points or 0.43 percent to close at 5,161.63 points with 3.314 million shares.
BR Tech. & Comm. Index closed at 1,199.09 points, down 0.67 points or 0.06 percent with 10.095 million shares.
BR Power Generation and Distribution Index plunged by 23.38 points or 0.36 percent to close at 6,385.57 points with 1.888 million shares.
An analyst at Arif Habib Limited said that the KSE100 index opened negative and maintained red color throughout the day. Main board scrips in Cement, Banks, Steel and E&P were negative however significant volumes could not be generated.
General expectation about market is positive, however, investors are still afraid to take large positions and buy aggressively.
Since the dust on Senate Elections has already settled and the expectations of populous budget are settling in, one can expect a rally any time soon. After an increase for the past two days, the investors booked profit across the board. LOTCHEM stood out and going by its tradition, the volumes were sky high when most of the scrips were trading red.
Scripts that contributed positively include PAKT (up 17 points), PPL (up 16 points), DAWH (up 12 points), EFUG (up 9 points) and SHFA (up 8 points). Stocks that contributed negatively include HBL (down 85 points), LUCK (down 30 points), ENGRO (down 25 points), HUBC (down 22 points) and OGDC (down 16 points).
