RECORDER REPORT

KARACHI: Pakistan Stock Exchange Monday remained under pressure due to selling in various sectors.

BRIndex100 lost 40.58 points or 0.91 percent to close at 4,398.87 points. BRIndex100 touched intraday high of 4,463.44 and intraday low of 4,392.09 points. Volumes stood at 91.277 million shares.

BRIndex30 decreased by 423.78 points or 1.9 percent to close at 21,847.02 points with a turnover of 66.103 million shares.

The benchmark KSE-100 index declined by 315.58 points or 0.76 percent to close at 41,004.55 points. Trading activity remained thin as daily volumes on the ready counter decreased by 98.621 million shares as compared to 158.719 million shares traded last Wednesday.

The market capitalization declined by Rs 39 billion to Rs 8.401 trillion. Out of total 375 active scrips, 266 closed in negative, only 83 in positive while the value of 26 stocks remained unchanged.

Lotte Chemical was the volume leader with 9.372 million shares. However, it lost Re 0.82 to close at Rs 13.69 followed by K-Electric that decreased by Re 0.07 to close at Rs 5.31 with 6.068 million shares.

Nestle Pakistan and Island Textile were the top gainers with Rs 449.00 and Rs 73.79, respectively to close at Rs 9,435.00 and Rs 1,549.69. Wyeth Pak and Millat Tractors were the top losers with Rs 46.99 and Rs 43.81, respectively to close at Rs 1,311.01 and Rs 1,087.71.

BR Commercial Banks Index gained 10.53 points or 0.12 percent to close at 8,570.86 points with total turnover of 8.504 million shares.

BR Cement Index declined by 159.12 points or 3.46 percent to close at 4,442.03 points with 11.589 million shares.

BR Oil and Gas Index lost 26.37 points or 0.5 percent to close at 5,233.36 points with 5.838 million shares.

BR Tech. & Comm. Index closed at 1,219.07 points, down 11.28 points or 0.92 percent with 7.127 million shares.

BR Power Generation and Distribution Index decreased by 80.8 points or 1.39 percent to close at 5,719.37 points with 7.181 million shares.

Maaz Mulla at JS Global Capital said the market witnessed a lackluster session on political noise. The benchmark index moved between an intraday high of plus 213 points to a low of minus 421 points to close at 41,004, down 316 points from last trading session.

On the economic front clarity came after Minister for Foreign Affairs Shah Mehmood Qureshi has said that Pakistan had not demanded financial assistance from Saudi Arabia and United Arab Emirates rather Islamabad sought investment in different sectors.

Cement sector led the decline where major players such as DGKC (down 4.81 percent), LUCK (down 3.31 percent), FCCL (down 4.84 percent), PIOC (down 3.37 percent) and MLCF (down 3.74 percent) lost value to close in the red zone.

Negative trend was witnessed in the auto sector on back of the news that the Finance Minister, Asad Umar, says government is ready to reconsider the budget proposal of lifting ban on the non-filers of tax returns wishing to purchase property and new cars. HCAR (down 5.0 percent) and INDU (down 2.70 percent) closed in the red trajectory.

Mixed sentiments were witnessed in the banking space where ABL (down 0.39 percent), UBL (down 0.15 percent) and NBP (down 0.14 percent) closed in the red whereas on the flip side HBL (up 1.21 percent) and MCB (up 0.34 percent) closed in the green zone.