RECORDER REPORT
KARACHI: Despite foreign buying, Pakistan Stock Exchange Thursday witnessed a bearish trend due to selling in various sectors by local investors.
BRIndex100 lost 17.76 points or 0.35 percent to close at 5,048.70 points. BRIndex100 touched intraday high of 5,067.11 and intraday low of 5,028.82 points. Volumes stood at 284.125 million shares.
BRIndex30 decreased by 88.03 points or 0.34 percent to close at 25,844.88 points with a turnover of 162.058 million shares.
The benchmark KSE-100 index declined by 154.79 points to 46,331.71 points. Due to selling pressure, daily trading volumes on the ready counter increased to 332.906 million shares as compared to 284.383 million shares traded Wednesday.
Foreign investors however remained net buyers of shares worth $6.3 million. The market capitalization decreased by Rs 19 billion to Rs 9.480 trillion. Out of total 400 active scrips, 219 closed in negative, 161 in positive while the value of 20 stocks remained unchanged.
K-Electric was the volume leader with 47.541 million shares. It gained Re 0.19 to close at Rs 7.06 followed by Engro Polymer that increased by Rs 1.63 to close at Rs 39.91 with 23.866 million shares. Bata Pak and Pak Tobacco were the top gainers with Rs 51.67 and Rs 45.00, respectively to close at Rs 2,866.67 and Rs 1,900.00. Nestle Pakistan and Pak Services were the top losers with Rs 339.00 and Rs 49.50, respectively to close at Rs 12,511.00 and Rs 940.50.
BR Commercial Banks Index decreased by 18.48 points or 0.2 percent to close at 9,379.49 points with total turnover of 26.626 million shares.
BR Cement Index declined by 52.79 points or 0.83 percent to close at 6,296.18 points with 19.707 million shares.
BR Oil and Gas Index lost 4.7 points or 0.08 percent to close at 5,585.51 points with 11.001 million shares.
BR Tech. & Comm. Index closed at 1,235.43 points, down 9.22 points or 0.74 percent with 16.599 million shares.
BR Power Generation and Distribution Index increased by 74.98 points or 1.1 percent to close at 6,915.61 points with 49.054 million shares.
Maaz Mulla at JS Global Capital said that Pakistan equities closed negative with benchmark KSE-100 Index settling down at 46,332 levels, after making an intraday high of plus 91 points versus an intraday low of minus 267 points.
The market kicked off on a positive note traded sideways most of the day, but later on succumbed to pressure to close down. Major heavyweights namely, HBL (down 2.28 percent), LUCK (down 1.08 percent), ENGRO (down 0.30 percent) and FFC (down 1.87 percent) cumulatively contributed negative 130 points.
In the E&P sector, OGDC (up 0.64 percent), PPL (up 0.29 percent) and POL (up 0.09 percent) closed in green after global Oil prices eased following rally to multi-year highs.
