BRIndex100 extends losses
RECORDER REPORT
KARACHI: Pakistan Stock Exchange Wednesday closed on a negative note due to selling by local and foreign investors in almost all sectors. BRIndex100 lost 24.17 points or 0.5 percent to close at 4,845.30 points. BRIndex100 hit intraday high of 4,911.66 and intraday low of 4,840.45 points. Volume stood at 276.023 million shares.
BRIndex30 decreased by 193.99 points or 0.77 percent to close at 25,078.42 points with a turnover of 152.435 million shares.
The KSE-100 Index declined by 233.75 points or 0.52 percent and closed at 45,059.12 points. Trading activity remained low as daily volumes on ready counter decreased to 305.760 million shares as compared to 366.802 million shares traded Tuesday.
The foreign investors also remained net sellers of shares worth $1.560 million. The market capitalization declined by Rs 28 billion to Rs 7.849 trillion. Out of total 394 active scrisp, 225 closed in negative and 156 in positive while the value of 13 stocks remained unchanged.
Telecard Limited was the volume leader with 29.326 million shares and increased by Rs 1.03 to close at Rs 16.34 followed by Azgard Nine that gained Rs 0.75 to close at Rs 34.77 with 25.605 million shares. Colgate Palmolive and Rafhan Maize were the top gainers increasing by Rs 159.99 and Rs 76.00 respectively to close at Rs 2750.00 and Rs 9975.00 while Nestle Pakistan and Pak Tobacco were the top losers declining by Rs 75.50 and Rs 69.99 respectively to close at Rs 5765.00 and Rs 1430.00.
BR Automobile Assembler Index closed at 8,706.24, up only 0.07 points with total turnover of 2.881 million shares.
BR Cement Index lost 45.74 points or 0.65 percent to close at 7,041.03 points with 12.257 million shares.
BR Commercial Banks Index declined by 86.29 points or 0.97 percent to close at 8,792.57 points with 20.367 million shares.
BR Power Generation and Distribution Index fell by 9.47 points or 0.18 percent to close at 5,395.97 points with 13.697 million shares.
BR Oil and Gas Index decreased by 27 points or 0.7 percent to close at 3,826.59 points with 10.037 million shares.
BR Tech. & Comm. Index plunged by 24.58 points or 0.6 percent to close at 4,072.46 points with 78.792 million shares.
An analyst at Arif Habib Limited said that the market traded rangebound between minus 272 points and plus 296 points during the session, closing the session negative 234 points.
Selling pressure was concentrated in Banks, E&P, Cement and Steel sector stocks similar to what was witnessed on Tuesday and the absence of active buyer exacerbated the situation leading to index closing lower than LDCP.
Technology stocks saw NETSOL performing, whereas TRG declined over the day. Service Global Footwear (SGF) hit upper circuit on the first day of listing on PSX, but selling pressure brought the price down.
Sectors contributing to the performance include Banks (down 93 points), E&P (down 44 points), Technology (down 35 points), Cement (down 33 points), Pharma (down 29 points) and Fertilizer (up 30 points).
Stocks that contributed positively to the index include COLG (up 24 points), FFC (up 21 points), NRL (up 13 points), ENGRO (up 13 points) and POL (up 12 points). Stocks that contributed negatively include HBL (down 39 points), OGDC (down 36 points), PPL (down 24 points), MCB (down 23 points) and TRG (down 21 points).
