RECORDER REPORT
KARACHI: Pakistan Stock Exchange Monday witnessed a highly volatile session.
BRIndex100 lost 90.06 points or 2.48 percent to close at 3,537.11 points. BRIndex100 touched intraday high of 3,693.26 and intraday low of 3,526.71 points. Volumes stood at 107.716 million shares. BRIndex30 decreased by 632.18 points or 3.39 percent to close at 17,989.13 points with a turnover of 77.194 million shares.
The KSE-100 index declined by 816.15 points or 2.35 percent to close at 33,900.38 points. Daily trading volumes increased to 121.210 million shares as compared to 39.286 million shares traded last Friday.
Foreign investors remained net buyers of equities worth $6.9 million. The market capitalization declined by Rs 181 billion to Rs 6.945 trillion. Out of total 336 active scrips, 287 closed in negative, only 36 in positive while the value of 13 stocks remained unchanged.
K-Electric was the volume leader with 9.812 million shares. However, it lost Re 0.24 to close at Rs 3.98 followed by Maple Leaf that declined by Rs 1.21 to close at Rs 23.08 with 7.079 million shares.
Siemens Pak and Pak Hotels were the top gainers with Rs 9.00 and Rs 5.14, respectively to close at Rs 647.00 and Rs 141.14. Pak Tobacco and Mari Petroleum were the top losers with Rs 130.00 and Rs 49.29, respectively to close at Rs 2,470.00 and Rs 936.70.
BR Commercial Banks Index declined by 76.59 points or 0.94 percent to close at 8,099.55 points with total turnover of 19.260 million shares.
BR Cement Index plunged by 111.93 points or 3.54 percent to close at 3,049.05 points with 18.264 million shares.
BR Oil and Gas Index decreased by 144.05 points or 3.55 percent to close at 3,908.37 points with 10.466 million shares.
BR Tech. & Comm. Index lost 25.89 points or 3.09 percent to close at 810.78 points with 7.101 million shares.
BR Power Generation and Distribution Index closed at 4,594.35 points, down 128.56 points or 2.72 percent with 14.005 million shares.
Maaz Mulla at JS Global Capital said that the PSX kicked off positive hitting the day’s high on plus 511 point on early excitement of Pakistan reaching on deal with the International Monetary Fund (IMF) on a 39-month Extended Fund Facility (EFF) programme of $6 billion. However this positivity couldn’t last long as market came under pressure from the likely redemptions in mutual funds making an intraday low of negative 937 points to close at 33,900 level, down 816 points.
Major contribution to the declining index came from FFC (down 5.0 percent), OGDC (down 2.7 percent), POL (down 4.4 percent), ENGRO (down 2.0 percent) and PPL (down 2.0 percent). Selling pressure was witnessed across the board, however broader damaged was done by cements and E&P stocks. DGKC (down 5.0 percent), PIOC (down 5.0 percent), MLCF (down 5.0 percent), CHCC (down 5.0 percent), LUCK (down 2.1 percent), OGDC (down 2.7 percent), POL (down 4.4 percent) and PPL (down 2.0 percent) were the major laggards of the aforementioned sectors.
