KARACHI: A bearish trend continued on Pakistan Stock Exchange due to selling in various sectors.
BRIndex100 lost another 71.55 points or 1.62 percent to close at 4,336.15 points Tuesday. BRIndex100 touched intraday high of 4,409.29 and intraday low of 4,310.66 points. Volumes stood at 217.304 million shares.
BRIndex30 decreased by 460.94 points or 2.01 percent to close at 22,502.38 points with a turnover of 163.074 million shares.
The benchmark KSE-100 declined by 535.44 points or 1.29 percent to close at 40,958.53 points. Due to selling pressure, daily trading volumes on the ready counter increased to 230.360 million shares as compared to 214.082 million shares traded Monday.
Foreign investors remained net sellers of shares worth $0.5 million. The market capitalization declined by Rs 83 billion to Rs 8.190 trillion. Out of total 353 active scrips, 260 closed in negative, only 85 in positive while the value of 8 stocks remained unchanged.
Pak Elektron was the volume leader with 24.636 million shares. It gained Re 0.99 to close at Rs 31.78 followed by Engro Polymer that inched up by Re 0.12 to close at Rs 38.08 with 15.838 million shares.
Nestle Pakistan and Hinopak Motor were the top gainers with Rs 175.00 and Rs 36.11, respectively to close at Rs 9,600.00 and Rs 766.11. Colgate Palmolive and Wyeth Pak were the top losers with Rs 99.99 and Rs 62.14, respectively to close at Rs 2,400.01 and Rs 1,200.00.
BR Commercial Banks Index decreased by 108.28 points or 1.27 percent to close at 8,449.44 points with total turnover of 18.401 million shares.
BR Cement Index declined by 152.87 points or 3.27 percent to close at 4,522.93 points with 35.704 million shares.
BR Oil and Gas Index lost 46.24 points 0.87 percent to close at 5,238.93 points with 4.801 million shares.
BR Tech. & Comm. Index closed at 1,184.92 points, down 16.04 points or 1.34 percent with 19.258 million shares.
BR Power Generation and Distribution Index plunged by 76.8 points or 1.25 percent to close at 6,076.48 points with 14.877 million shares.
An analyst at Topline Securities said negative sentiments continued to dominate Pakistan market as investors did not receive any news on China’s immediate financial support. Resultantly, KSE-100 index closed at 40,959 level, declining by 535 points or 1.3 percent.
Further regression of the index was restricted on the news that Prime Minister Imran Khan will address the nation to brief the Country about his China’s visit and to clarify his government’s stance on the recent protest.
During the trading session, the FIA director revealed that a majority of Pakistani banks data had been hacked. This coupled with last week’s news that $6 million had been stolen through cyber attacks, led commercial banks to chip away 166 points, the highest amongst all sectors.