BRIndex100 lacks luster
RECORDER REPORT
KARACHI: Pakistan Stock Exchange Friday remained under pressure and closed on a negative note with extremely low volumes due to investors’ lack of interest.
BRIndex100 lost 26.35 points or 0.62 percent to close at 4,209.41 points. BRIndex100 touched intraday high of 4,236.43 and intraday low of 4,201.27 points. Volumes stood at 78.239 million shares.
BRIndex30 decreased by 93.05 points or 0.43 percent to close at 21,511.24 points with a turnover of 49.793 million shares.
The KSE-100 Index declined by 232.43 points or 0.57 percent to close at 40,249.22 points. Trading activity remained extremely low as daily volumes on the ready counter decreased to 85.597 million shares as compared to 112.084 million shares traded Thursday.
Foreign investors remained net sellers of shares worth $1.6 million. The market capitalization declined by Rs 34 billion to Rs 7.530 trillion. Out of total 326 active scrips, 172 closed in negative, 131 in positive while the value of 23 stocks remained unchanged.
Maple Leaf was the volume leader with 8.083 million shares. It gained Re 0.30 to close at Rs 23.67 followed by Kot Addu Power that inched up by Re 0.36 to close at Rs 26.78 with 7.497 million shares. Unilever Foods and Philip Morris Pak were the top gainers with Rs 150.00 and Rs 90.90, respectively to close at Rs 7,500.00 and Rs 2,488.85. Sapphire Textile and Sapphire Fiber were the top losers with Rs 61.72 and Rs 48.94, respectively to close at Rs 887.95 and Rs 707.01.
BR Automobile Assembler Index decreased by 40.27 points or 0.69 percent to close at 5,817.71 points with total turnover of 802,930 shares.
BR Cement Index gained 28.74 points or 0.76 percent to close at 3,805.66 points with 19.651 million shares.
BR Commercial Banks Index shed 57.61 points or 0.59 percent to close at 9,782.83 points with 5.828 million shares.
BR Power Generation and Distribution Index inched up by 50.43 points or 0.92 percent to close at 5,551.90 points with 9.114 million shares.
BR Oil and Gas Index fell by 29.91 points or 0.67 percent to close at 4,405.62 points with 6.283 million shares.
BR Tech. & Comm. Index closed at 1,002.10 points, down 13.97 points or 1.37 percent with 5.858 million shares.
Danish Ladhani at JS Global Capital said that the Pakistan equities closed its week on a negative note with the KSE-100 Index shedding 232 points, closing at 40,249 levels, down 0.6 percent.
The market remained lackluster in the absence of any major triggers; ENGRO (down 2.8 percent) was the major laggard as the company announced its consolidated CY20 EPS of Rs 28.69/share against EPS Rs 22.06 in the same period last year with a dividend of Rs 1.0.
Moreover in the Cements FCCL (down 1.8 percent) reported its first half FY20 EPS of Rs 0.35/share against Rs 1.32/shares in the same period last year with no cash payout. ENGRO (down 2.8 percent), MCB (down 2.3 percent), DAWH (down 3.2 percent), OGDC (down 1.7 percent), HBL (down 0.9 percent), FFC (down 0.9 percent) and EFERT (down 1.3 percent) cumulatively contributed negative 225 points towards the negative index close.
