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A bearish trend continued on Pakistan Stock Exchange as investors remained concerned over mounting current account deficit and depleting foreign exchange reserves, analysts said. BRIndex100 lost another 9.81 points or 0.21 percent to close at 4,587.04 points Tuesday. BRIndex 100 touched an intraday high of 4,630.31 points and an intraday low of 4,469.52 points. The volume stood at 199.300 million shares.

BRIndex30 declined by 198.92 points or 0.88 percent to close at 22,493.18 points with a turnover of 143.187 million shares. The benchmark KSE-100 index plunged by 170.22 points to close at 41,983.16 points. Trading activity on the ready counter improved as daily volumes increased to 217.012 million shares as compared to 153.157 million shares traded Monday.

Foreign investors remained net sellers of shares worth $6.8 million. The market capitalization decreased by Rs 37 billion to Rs 8.777 trillion. Out of total 374 active scrips, 252 closed in negative, 106 in positive while the value of 16 stocks remained unchanged.

Azgard Nine was the volume leader with 15.218 million shares. However, it declined by Rs 0.86 to close at Rs 15.18 followed by Aisha Steel Mill that lost Rs 0.47 to close at Rs 19.35 with 14.184 million shares. BR Commercial Banks Index closed at 8,327.32 points, with an increase of 35.84 points or 0.43 percent with total turnover of 20,124,500 shares.

BR Cement Index decreased by 207.49 points or 3.27 percent to close at 6,136.60 points with 25,722,700 shares. BR Oil and Gas Index lost 16.33 points to close at 4,933.68 points with total volume of 24,947,030 shares. BR Tech. & Comm. Index closed at 1,276.89, down 7.11 points or 0.55 percent with total turnover of 14,912,500 shares. BR Power Generation and Distribution Index plunged by 28.32 points or 0.42 percent to close at 6,703.58 points with 13,603,500 shares.

An analyst at Topline Securities said that the KSE-100 index declined further by 170 points or 0.40 percent to close at 41,983 points as investors remained concerned over mounting current account deficit and depleting foreign exchange reserves. At one point of time, the market was down 920 points to 41,063 index level however buying interest helped market to regain some lost ground as market closed at 41,983 index levels.

Top 5 index point contributors included ENGRO (up 1.9 percent), DAWH (up 3.0 percent), BAHL (up 2.8 percent), PPL (up 1.2 percent) and EFERT (up 2.8 percent) which added 113 points. On the contrary, LUCK (down 3.4 percent), DGKC (down 4.8 percent), FFC (down 3.2 percent), SEARL (down 4.2 percent) and HUBC (down 1.3 percent) led to decline of 165 points. Cement sector continued to remain under pressure as it contributed 128 points to index decline following concerns of cement pricing pressure. Pharmaceutical also contributed 34 points to index whereas commercial banks added 42 points.



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