RECORDER REPORT
KARACHI: Bearish trend continued on Pakistan Stock Exchange due to selling in various sectors.
BRIndex100 lost 1.68 points or 0.04 percent to close at 4,285.01 points on Thursday. During the session, the BRIndex-100 touched an intraday high of 4,342.66 and an intraday low of 4,263.39 points. Total volumes stood at 112.471 million shares.
BRIndex30 gained 142.85 points or 0.67 percent to close at 21,412.07 points with total turnover of 89.621 million shares.
Pakistan’s benchmark KSE-100 index declined by 106.87 points and closed at 40,238.81 points. Daily trading volumes increased to 143.175 million shares as compared to 117.598 million shares traded on Wednesday.
The foreign investors remained net sellers of shares worth $4.2 million. Out of total 340 active scrips, 163 closed in negative and 143 in positive while the value of 34 stocks remained unchanged.
K-Electric was the volume leader with 30.242 million shares and gained Rs 0.49 to close at Rs 5.67 followed by Pakistan International Bulk Terminal (R) that inched up by Rs 0.13 to close at Rs 0.97 with 14.483 million shares. Pak Tobacco and Mari Petroleum were the top gainers increasing by Rs 80.00 and Rs 26.73 respectively to close at Rs 2230.00 and Rs 1474.56 while Nestle Pakistan and Colgate Palmolive were the top losers declining by Rs 374.00 and Rs 133.01 respectively to close at Rs 10926.00 and Rs 2712.00.
BR Commercial Banks Index inched up by 9.13 points or 0.11 percent to close at 8,382.67 points with total turnover of 13.009 million shares.
BR Cement Index gained 27.05 points or 0.63 percent to close at 4,323.43 points with 16.307 million shares.
BR Oil and Gas Index lost 5.26 points or 0.1 percent to close at 5,112.85 points with 7.974 million shares.
BR Tech & Comm Index closed at 1,126.73 points, up 7.22 points or 0.64 percent with 6.604 million shares.
BR Power Generation and Distribution Index increased by 181.25 points or 3.2 percent to close at 5,847.88 points with 31.097 million shares.
Maaz Mulla at JS Global Capital said that the market kicked off the day on a positive tone, reaching an intraday high of up 409 points; however this positivity couldn’t last long as the index came into pressure and made an intraday low of minus 240 points, closing down 107 points at 40,239 level.
Major heavyweights, namely LUCK (up 2.94 percent), KEL (up 9.46 percent), MARI (up 1.85 percent), UBL (up 0.61 percent) and HCAR (up 5.0 percent) cumulatively contributed plus 95 points to the overall index.
Mixed sentiment were witnessed in the cement sector where LUCK (up 2.94 percent) and DGKC (up 1.18 percent) closed in the green zone and on the flipside MLCF (down 4.17 percent) and PIOC (down 1.55 percent) closed in the red zone.
E&P sector lost value to close lower than its previous day close as crude oil prices edged lower in the international market after US President message regarding OPEC and crude prices. PPL (down 0.45 percent) and POL (down 0.48 percent) were the losers of the mentioned sector.
