BRIndex100 lands in red zone
RECORDER REPORT
KARACHI: Pakistan Stock Exchange on Wednesday witnessed mixed trend and after moving both sides finally closed on negative note due to selling in various sectors.
BRIndex100 lost 15.38 points or 0.44 percent to close at 3,480.46 points. During the session, the BRIndex-100 hit an intraday high of 3,506.93 and an intraday low of 3,476.25 points. Total volumes stood at 157.682 million shares.
BRIndex30 decreased by 131.09 points or 0.74 percent to close at 17,628.30 points with total turnover of 85.186 million shares.
KSE-100 Index closed at 34,034.65 points, down 17.96 points or 0.05 percent. Daily trading volumes on ready counter increased to 195.734 million shares as compared to 160.630 million shares traded on Tuesday.
The foreign investors remained net sellers of shares worth $1.899 million. Total market capitalization declined by Rs 3 billion to Rs 6.458 trillion. Out of total 360 active scrips, 227 closed in negative and 104 in positive while the value of 29 stocks remained unchanged.
TRG Pak was the volume leader with 16.397 million shares however lost Re 0.32 to close at Rs 27.51 followed by Unity Foods that closed at Rs 11.61, down Re 0.13 with 12.642 million shares. Nestle Pakistan and Unilever Foods were the top gainers increasing by Rs 400.00 and Rs 290.00 respectively to close at Rs 6850.00 and Rs 9690.00 while Pak Tobacco and Murree Brewery were the top losers declining by Rs 32.98 and Rs 21.02 respectively to close at Rs 1527.01 and Rs 557.88.
BR Automobile Assembler Index declined by 60.61 points or 1.07 percent to close at 5,594.57 points with total turnover of 5.285 million shares.
BR Cement Index lost 19.59 points or 0.48 percent to close at 4,062.27 points with 13.844 million shares.
BR Commercial Banks Index fell by 27.68 points or 0.41 percent to close at 6,785.98 points with 7.995 million shares.
BR Power Generation and Distribution Index decreased by 28.08 points or 0.66 percent to close at 4,237.30 points with 12.270 million shares.
BR Oil and Gas Index closed at 3,618.92 points, down 17.87 points or 0.49 percent with 13.289 million shares.
BR Tech. & Comm. Index plunged by 36.46 points or 2.67 percent to close at 1,326.78 points with 34.982 million shares.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower on institutional profit taking amid plunge in global crude oil prices, weak earnings outlook. Upbeat data for $13 million current account surplus in May’20 and SBP receipt of a billion dollar from ADB and World Bank for built up of FX reserves invited mid-session support.
He said political uncertainty, ADB lowered growth forecast at 2 percent in FY21 and investor concerns weak remittances in FY20 played a catalyst role for negative close in the future contracts rollover week at PSX.
