BRIndex100 extends losses
RECORDER REPORT
KARACHI: A bearish trend continued on Pakistan Stock Exchange Tuesday due to selling in various sectors.
BRIndex100 lost 22.3 points or 0.54 percent to close at 4,139.66 points. BRIndex100 hit intraday high of 4,166.98 and intraday low of 4,099.27 points. Volumes stood at 268.633 million shares.
BRIndex30 decreased by 103.34 points or 0.49 percent to close at 20,936.36 points with a turnover of 212.446 million shares.
The KSE-100 Index declined by 203.14 points or 0.51 percent to close at 40,006.68 points. Daily trading volumes stood at 290.136 million shares as compared to 377.650 million shares traded Monday.
Foreign investors however remained net buyers of shares worth $122,201. Total market capitalization declined by Rs 37 billion to Rs 7.470 trillion. Out of total 403 active scrips, 241 closed in negative and 145 in positive while the value of 17 stocks remained unchanged.
Hascol Petroleum was the volume leader with 43.886 million shares however lost Rs 0.15 to close at Rs 15.48 followed by TRG Pak that gained Rs 0.77 to close at Rs 46.41 with 28.531 million shares. Premier Sugar and Ismail Industries were the top gainers increasing by Rs 28.48 and Rs 25.00 respectively to close at Rs 494.49 and Rs 404.00 while Nestle Pakistan and Bata Pak were the top losers declining by Rs 97.75 and Rs 40.00 respectively to close at Rs 6400.00 and Rs 1600.00.
BR Automobile Assembler Index lost 27.54 points or 0.36 percent to close at 7,519.31 points with total turnover of 4.225 million shares.
BR Cement Index decreased by 25.24 points or 0.44 percent to close at 5,691.95 points with 39.312 million shares.
BR Commercial Banks Index fell by 23.75 points or 0.29 percent to close at 8,251.00 points with 11.173 million shares.
BR Power Generation and Distribution Index declined by 50.5 points or 1.07 percent to close at 4,685.73 points with 25.073 million shares.
BR Oil and Gas Index plunged by 42.87 points or 1.1 percent to close at 3,848.70 points with 51.577 million shares. BR Tech. & Comm. Index closed at 1,687.55 points, down 5.23 points or 0.31 percent with 37.516 million shares.
An analyst at Arif Habib Limited said that the market continued the downtrend following Monday’s attrition on account of FATF concerns, which was further worsened by an uptick in inflation numbers. Overall, the index lost 564 points but partly recovered by the end of session to close 203 points down.
Selling was observed almost across the board, with the exception of PSO, HBL, UNITY, KEL among stocks which traded positive for better part of the session.
Buying activity in LUCK close to end of session also contributed to the recovery in lost points. Sectors contributing to the performance include E&P (down 68 points), Banks (down 32 points), Fertilizer (down 30 points), Power (down 25 points) and Cement (down 19 points). Stocks that contributed positively to the index include HBL (up 17 points), TRG (up 8 points), LUCK (up 8 points), DAWH (up 8 points) and KEL (up 8 points). Stocks that contributed negatively include HUBC (down 32 points), PPL (down 27 points), OGDC (down 24 points), MCB (down 23 points) and ENGRO (down 21 points).
