PSX Closing Bell: Departed Feline Recoil

April 07, 2021 (MLN): After yesterday’s short-lived recovery, the capital market continued its downward trend to close at 43,953.58-level with a loss of 451.12 points.

Optimism about the upgraded global growth forecast to 6% along with a projection of Pakistan’s GDP growth to 1.5% in FY21 were not enough to lift the capital market on Wednesday.

The market opened positive, however, gains from stocks were quickly wiped as investors resorted to profit booking in heavy-weight sectors on elevated levels achieved in yesterday’s close, as per closing note by Aba Ali Habib research.  

The Index traded in a range of 815.80 points or 1.84 percent of previous close, showing an intraday high of 44,567.57 and a low of 43,751.77.

Of the 96 traded companies in the KSE100 Index 29 closed up 65 closed down, while 2 remained unchanged. Total volume traded for the index was 195.15 million shares.

Sector wise, the index was let down by Commercial Banks with 183 points, Oil & Gas Exploration Companies with 103 points, Fertilizer with 98 points, Automobile Assembler with 37 points and Power Generation & Distribution with 31 points.

The most points taken off the index was by HBL which stripped the index of 55 points followed by ENGRO with 52 points, BAHL with 46 points, OGDC with 44 points and FFC with 35 points.

Sectors propping up the index were Cement with 34 points, Insurance with 29 points, Engineering with 21 points, Glass & Ceramics with 6 points and Chemical with 4 points.

The most points added to the index was by LUCK which contributed 39 points followed by AICL with 15 points, TRG with 12 points, EFUG with 11 points and ISL with 11 points.

All Share Volume increased by 64.56 Million to 370.53 Million Shares. Market Cap decreased by Rs.64.49 Billion.

Total companies traded were 391 compared to 393 from the previous session. Of the scrips traded 133 closed up, 239 closed down while 19 remained unchanged.

Total trades increased by 22,936 to 152,611.

Value Traded increased by 4.27 Billion to Rs.20.34 Billion

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