KARACHI: Pakistan Stock Exchange Monday closed in deep red due to across-the-board selling by local and foreign investors.
BRIndex100 lost 91.76 points or 2.19 percent to close at 4,090.54 points. BRIndex100 touched intraday high of 4,183.63 and intraday low of 4,079.95 points. Volumes stood at 161.624 million shares.
BRIndex30 declined by 620.5 points or 2.89 percent to close at 20,859.86 points with a turnover of 124.643 million shares.
The KSE-100 Index plunged by 846.93 points or 2.11 percent to close below 40,000 crucial level at 39,296.70 points. Trading activity remained low as daily volumes on the ready counter decreased to 180.766 million shares as compared to 193.536 million shares traded last Friday.
Foreign investors remained net sellers of shares worth $0.3 million. The market capitalization declined by Rs 143 billion to stand at Rs 7.432 trillion. Out of total 357 active scrips, 300 closed in negative, only 41 in positive while the value of 16 stocks remained unchanged.
Hascol Petroleum was the volume leader with 15.355 million shares. However, it declined by Rs 1.38 to close at Rs 21.63 followed by Unity Foods that lost Re 0.90 to close at Rs 11.76 with 11.651 million shares.
Pak Tobacco and Unilever Foods were the top gainers with Rs 122.40 and Rs 100.00, respectively to close at Rs 2,162.40 and Rs 7,800.00. Nestle Pakistan and Rafhan Maize were the top losers with Rs 477.00 and Rs 217.33, respectively to close at Rs 7,473.00 and Rs 6,555.00.
BR Automobile Assembler Index plunged by 238.68 points or 4.05 percent to close at 5,647.91 points with total turnover of 2.007 million shares.
BR Cement Index declined by 107.37 points or 2.91 percent to close at 3,583.10 points with 27.433 million shares.
BR Commercial Banks Index decreased by 115.52 points or 1.2 percent to close at 9,503.54 points with 19.060 million shares.
BR Power Generation and Distribution Index shed 88.73 points or 1.62 percent to close at 5,391.56 points with 11.981 million shares.
BR Oil and Gas Index fell by 131.76 points or 2.95 percent to close at 4,331.89 points with 23.935 million shares.
BR Tech. & Comm. Index lost 39.41 points or 3.85 percent to close at 984.80 points with 23.193 million shares.
Maaz Mulla at JS Global Capital said that carnage was witnessed at the local bourse as the KSE-100 Index lost 847 points to close at 39,297 level. This selling pressure was on the back of likely redemptions in mutual funds.
ENGRO (down 2.3 percent), OGDC (down 2.5 percent), PSO (down 4.7 percent), PPL (down 2.1 percent), MARI (down 4.0 percent), HUBC (down 1.4 percent), BAHL (down 2.1 percent) and POL (down 2.2 percent) were among major laggards which dragged the index down.
Moreover, selling pressure continued in Cement sector, where DGKC (down 5.7 percent), PIOC (down 5.5 percent), FCCL (down 5.7 percent), MLCF (down 2.0 percent) and LUCK (down 1.7 percent) were the major losers. PPL (down 2.1 percent), POL (down 2.2 percent) and OGDC (down 2.5 percent) from the E&P sector closed in the red as crude oil prices edged lower in the international market.