BRIndex30 closed at 22,895.14 points, up 3.97 points or 0.02 percent with a turnover of 117.360 million shares. The KSE-100 index declined by 52.17 points or 0.13 percent to close at 40,544.11 points. Daily trading volumes on the ready counter stood at 160.241 million shares as compared to 165.074 million shares traded Tuesday.
Foreign investors however remained net buyers of shares worth $2.6 million. The market capitalization declined by Rs 10 billion to Rs 8.054 trillion. Out of total 348 active scrips, 198 closed in negative, 131 in positive while the value of 19 stocks remained unchanged.
K-Electric was the volume leader with 18.092 million shares. It gained Re 0.08 to close at Rs 6.59 followed by Fauji Cement that increased by Re 0.38 to close at Rs 23.32 with 13.100 million shares. Rafhan Maize and Wyeth Pak were the top gainers with Rs 100.00 and Rs 15.00, respectively to close at Rs 7,200.00 and Rs 1,065.00. Unilever Foods and Pak Services were the top losers with Rs 75.00 and Rs 52.43, respectively to close at Rs 7,550.00 and Rs 996.32.
BR Commercial Banks Index lost 22.54 points or 0.26 percent to close at 8,619.81 points with total turnover of 8.979 million shares. BR Cement Index increased by 49.33 points or 1.1 percent to close at 4,526.56 points with 39.207 million shares.
BR Oil and Gas Index gained 9.71 points or 0.2 percent to close at 4,951.65 points with 6.206 million shares. BR Tech. & Comm. Index closed at 1,029.21 points, down 15.88 points or 1.52 percent with 22.653 million shares. BR Power Generation and Distribution Index inched up by 27.35 points or 0.43 percent to close at 6,409.83 points with 19.491 million shares. An analyst at Arif Habib Limited said that the market opened on a positive note with plus 96 points carrying the optimism seen a day earlier. During the session, the market went up by 243 points after which selling pressure was observed. Cement Sector remained in the limelight, whereby LUCK remained under pressure and DGKC on the contrary traded in high volume and remained on the upper circuit.
Total traded volume in cement sector stood at 39 million shares, topped by FCCL, MLCF and DGKC. Among banking sector scrips, UBL traded in red whereas HBL and MCB remained unscathed. EPCL got the dent due to reduction in Regulatory Duty on PVC resin and the price came down near end of session.
Sectors contributing to the performance include Cement (up 28 points), Autos (up 12 points), Miscellaneous (down 27 points), Fertilizer (down 18 points) and Banks (down 16 points). Stocks that contributed positively include DGKC (up 22 points), MCB (up 14 points), MLCF (up 9 points), THALL (up 8 points) and OGDC (up 7 points). Stocks that contributed negatively include UBL (down 32 points), PSEL (down 27 points), ENGRO (down 18 points), EPCL (down 11 points) and LUCK (down 10 points).