The KSE-100 index declined by 104.36 points or 0.28 percent to close at 37,026.27 points. Daily trading volumes on the ready counter increased to 177.455 million shares as compared to 143.894 million shares traded last Friday. Foreign investors remained net sellers of shares worth $0.4 million. The market capitalization declined by Rs 6 billion to Rs 7.522 trillion. Out of total 352 active scrips, 183 closed in positive, 150 in negative while the value of 19 stocks remained unchanged.
Pak International Bulk Terminal was the volume leader with 14.524 million shares. It gained Re 0.96 to close at Rs 10.38 followed by Pak Elektron that increased by Rs 1.03 to close at Rs 23.19 with 11.489 million shares.
Philip Morris Pak and Pak Tobacco were the top gainers with Rs 154.00 and Rs 32.40, respectively to close at Rs 3,348.00 and Rs 2,604.90. Nestle Pakistan and Sanofi-Aventis were the top losers with Rs 40.33 and Rs 40.00, respectively to close at Rs 7,630.00 and Rs 794.00.
BR Commercial Banks Index decreased by 16.89 points or 0.2 percent to close at 8,373.03 points with total turnover of 23.583 million shares.
BR Cement Index lost 8.92 points or 0.26 percent to close at 3,453.16 points with 34.536 million shares.
BR Oil and Gas Index declined by 42.09 points or 0.93 percent to close at 4,486.27 points with 8.095 million shares. BR Tech. & Comm. Index gained 10.52 points or 1.2 percent to close at 884.08 points with 9.042 million shares. BR Power Generation and Distribution Index closed at 5,166.28 points, down 25.7 points or 0.49 percent with 11.937 million shares.
Maaz Mullah at JS Global Capital said that the Pakistan equities closed in red with the KSE-100 index settling at 37,026, down 0.3 percent. The index made an intraday high and low of plus 307 and minus 181 respectively. Market started the day on a positive note but eventually lost steam to close in negative territory.
The selling pressure in the market was on the back of investor cautiousness regarding the uncertain economic scenario in the country ahead of the IMF visit in particular. Weak investor sentiments in the cement sector weighed down the index as LUCK (down 1.2 percent) and KOHC (down 1.4 percent) closed lower. ASTL (down 0.5 percent) from the steel sector declared its nine months of FY19 result, where the company posted an EPS of Rs 0.75/per share with no cash payout.
FFL (down 2.6 percent) from the food sector closed lower than its previous day close on back of the material information released in which company stated that Inner Mongolia Yili Industrial Group Co. Ltd. is withdrawing its intention to acquire up to 51 percent shares of FFL as they are unable to reach an agreement. Moreover PIBTL (up 10.2 percent) declared its third quarter of FY19 results, where the company posted an EPS of Rs 0.27/per share for the quarter.