PSX Closing Bell: Introspective Hopelessness

April 30, 2021 (MLN): Following the downtrend witnessed in the last sessions, the Pakistan Stock Market succumbed to selling pressure once again on Friday, as the benchmark KSE-100 Index lost 600.76 points and settled at 44,262.35-mark. This was 1.34% lower compared to the previous closing.

The market saw selling pressure which was primarily caused by end of roll-over week and short trading hours.

‘The market is in a bear zone as most stocks lost 20-30% since February high. Despite massive earnings reported, political instability & policy inconsistency are the major sources of concern’, said Muzzammil Aslam, an Economist, via his Twitter handle.

The Index traded in a range of 912.67 points or 2.03 percent of the previous close, showing an intraday high of 45,056.90 and a low of 44,144.23.

Of the 93 traded companies in the KSE100 Index 16 closed up 75 closed down, while 2 remained unchanged. Total volume traded for the index was 153.94 million shares.

Sector wise, the index was let down by Technology & Communication with 133 points, Cement with 60 points, Oil & Gas Exploration Companies with 50 points, Oil & Gas Marketing Companies with 46 points and Commercial Banks with 42 points.

The most points taken off the index was by TRG which stripped the index of 105 points followed by HUBC with 30 points, SYS with 28 points, NBP with 24 points and NRL with 23 points.

Sectors propping up the index were Miscellaneous with 6 points, Synthetic & Rayon with 3 points, Modarabas with 1 points and Automobile Parts & Accessories with 1 points.

The most points added to the index was by BAHL which contributed 19 points followed by HBL with 14 points, SCBPL with 6 points, SHFA with 6 points and AGP with 5 points.

All Share Volume increased by 13.07 Million to 293.75 Million Shares. Market Cap decreased by Rs.92.67 Billion.

Total companies traded were 367 compared to 375 from the previous session. Of the scrips traded 84 closed up, 273 closed down while 10 remained unchanged.

Total trades decreased by 595 to 97,639.

Value Traded increased by 0.16 Billion to Rs.13.77 Billion

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