RECORDER REPORT
KARACHI: Pakistan Stock Exchange Thursday witnessed a negative trend due to selling in various sectors.
BRIndex100 lost 53.63 points or 1.29 percent to close at 4,090.87 points. BRIndex-100 touched intraday high of 4,144.58 and intraday low of 4,081.69 points. Volumes stood at 116.679 million shares.
BRIndex30 decreased by 101.43 points or 0.51 percent to close at 19,672.54 points with a turnover of 84.090 million shares.
The benchmark KSE-100 index declined by 393.79 points or 1.02 percent to close at 38,398.30 points. Trading activity remained thin as daily volumes on the ready counter decreased to 134.604 million shares as compared to 199.322 million shares traded Wednesday.
Foreign investors remained net sellers of shares worth $8.9 million. The market capitalization declined by Rs 47 billion to Rs 7.886 trillion. Out of total 356 active scrips, 232 closed in negative, 109 in positive while the value of 15 stocks remained unchanged.
TRG Pakistan was the volume leader with 12.024 million shares. However, it lost Re 0.83 to close at Rs 23.72 followed by K-Electric that gained Re 0.25 to close at Rs 5.11 with 12.008 million shares.
Mari Petroleum and Bata Pak were the top with Rs 51.33 and Rs 43.50, respectively to close at Rs 1,477.53 and Rs 1,706.00. Island Textile and Sanofi-Aventis were the top losers with Rs 91.52 and Rs 30.29, respectively to close at Rs 1,738.88 and Rs 800.01.
BR Commercial Banks Index decreased by 68.58 points or 0.83 percent to close at 8,179.51 points with total turnover of 20.832 million shares.
BR Cement Index declined by 89.09 points or 2.23 percent to close at 3,913.41 points with 13.326 million shares.
BR Oil and Gas Index lost 6.29 points or 0.12 percent to close at 5,121.75 points with 2.304 million shares.
BR Tech. & Comm. Index closed at 1,078.67 points, down 19.96 points or 1.82 percent with 18.374 million shares.
BR Power Generation and Distribution Index increased by 89.84 points or 1.63 percent to close at 5,594.22 points with 15.210 million shares.
Ahsan Mehanti at Arif Habib Corporation said that stock closed bearish on investor concerns for global equities selloff and economic uncertainty after dismal data on $8.9 billion trade deficit and weak auto sales for July-September 2018. Oil stocks battered amid slump in global crude oil prices. He said Moody’s report on major funding risk, falling FX reserves, dismal earnings outlook and speculations on likely surge in interest rates played a catalyst role in bearish close.
