PSX Closing Bell: Anesthesia

Jun 08, 2021 (MNL): Domestic equities ended today’s session on a negative note, as they failed to maintain yesterday’s momentum amid lack of triggers.

Despite the fact that government’s economic team is striving to get as much fiscal space as possible from IMF for the next year budget, investors remained pessimist.

Accordingly, after witnessing a profit taking activity, the benchmark KSE-100 index plunged nearly 155 points to close at 48,147.98 level. This was 0.32% lower compared to yesterday’s closing.

KAPCO remained in the limelight as the Board of Directors are scheduled to meet tomorrow to consider the declaration of an interim cash dividend, a closing note by Topline Securities cited.

TRG on the other hand succumbed to selling pressure as investors digested the possible implications of a proposed Global Minimum Tax Rate by the G7 Countries, it added.

The Index traded in a range of 409.49 points or 0.85 percent of previous close, showing an intraday high of 48,409.66 and a low of 48,000.17.

Of the 96 traded companies in the KSE100 Index 35 closed up 59 closed down, while 2 remained unchanged. Total volume traded for the index was 265.11 million shares.

Sector wise, the index was let down by Technology & Communication with 72 points, Oil & Gas Marketing Companies with 41 points, Textile Composite with 29 points, Oil & Gas Exploration Companies with 19 points and Refinery with 13 points.

The most points taken off the index was by TRG which stripped the index of 74 points followed by PSO with 24 points, OGDC with 14 points, SNGP with 13 points and KTML with 8 points.

Sectors propping up the index were Power Generation & Distribution with 28 points, Commercial Banks with 16 points, Inv. Banks / Inv. Cos. / Securities Cos. with 9 points, Chemical with 7 points and Leather & Tanneries with 3 points.

The most points added to the index was by KAPCO which contributed 29 points followed by HBL with 14 points, MCB with 12 points, DAWH with 12 points and BAHL with 8 points.

All Share Volume increased by 104.43 Million to 1040.52 Million Shares. Market Cap decreased by Rs.32.16 Billion.

Total companies traded were 422 compared to 428 from the previous session. Of the scrips traded 139 closed up, 268 closed down while 15 remained unchanged.

Total trades decreased by 26,028 to 201,149.

Value Traded decreased by 3.78 Billion to Rs.23.90 Billion

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