PSX Closing Bell: Bit by a Dead Bee

Aug 31, 2021 (MNL): Under the influence of yesterday’s bullish trading, the local bourse opened on a positive note today. Meanwhile, positive economic development also kept investors’ sentiments upbeat.

The reaffirmation of Pakistan’s sovereign credit rating at B-/B with the stable outlook by Standard and Poor's rating further helped to further boost investors’ confidence. In addition, a consortium of the local E&P companies, including MARI, PPL & OGDC, announced to have won/awarded Abu Dhabi’s offshore Block 5, market closing note by Aba Ali Habib said.

However, the benchmark KSE100 index managed to gain only 54.04 points to settle at 47,419.74 points.

The Index traded in a range of 242.66 points or 0.51 percent of previous close, showing an intraday high of 47,596.81 and a low of 47,354.15.

Of the 93 traded companies in the KSE100 Index 45 closed up 47 closed down, while 1 remained unchanged. Total volume traded for the index was 128.81 million shares.

Sectors propping up the index were Technology & Communication with 63 points, Oil & Gas Exploration Companies with 24 points, Cable & Electrical Goods with 14 points, Glass & Ceramics with 12 points and Chemical with 8 points.

The most points added to the index was by SYS which contributed 59 points followed by MARI with 21 points, LUCK with 17 points, PAEL with 14 points and PPL with 14 points.

Sector wise, the index was let down by Automobile Assembler with 16 points, Commercial Banks with 14 points, Pharmaceuticals with 10 points, Engineering with 8 points and Oil & Gas Marketing Companies with 7 points.

The most points taken off the index was by UBL which stripped the index of 15 points followed by POL with 14 points, MEBL with 14 points, BAHL with 13 points and PSMC with 12 points.

All Share Volume decreased by 3.81 Million to 378.83 Million Shares. Market Cap increased by Rs.18.59 Billion.

Total companies traded were 524 compared to 605 from the previous session. Of the scrips traded 248 closed up, 244 closed down while 32 remained unchanged.

Total trades increased by 130,397 to 130,397.

Value Traded increased by 1.69 Billion to Rs.14.02 Billion

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