PSX Closing Bell: Wheels Of Confusion

June 03, 2021 (MLN): The capital market opened on a positive note on Thursday on higher international crude oil prices and a credit facility of $200 million proposed by the World Bank. However, attractive prices and lack of triggers prompted profit-taking which eroded early session gains.

Accordingly, the benchmark KSE-100 Index concluded the session with a loss of 33.37 points to close at a 48,093.53 level.

According to the market closing note by Aba Ali Habib, the anticipation of the upcoming budget and delay in key policy approvals in the ECC meeting were the main reasons behind bearish trading activity in the bourse.

The Index traded in a range of 433.09 points or 0.90 percent of the previous close, showing an intraday high of 48,434.82 and a low of 48,001.73.

Of the 97 traded companies in the KSE100 Index 45 closed up 46 closed down, while 6 remained unchanged. Total volume traded for the index was 253.51 million shares.

Sector-wise, the index was let down by Cement with 45 points, Commercial Banks with 35 points, Fertilizer with 26 points, Food & Personal Care Products with 15 points and Oil & Gas Exploration Companies with 13 points.

The most points taken off the index was by LUCK which stripped the index of 48 points followed by BAHL with 17 points, MTL with 16 points, ENGRO with 16 points and UNITY with 15 points.

Sectors propping up the index were Technology & Communication with 42 points, Oil & Gas Marketing Companies with 19 points, Engineering with 16 points, Pharmaceuticals with 14 points and Paper & Board with 8 points.

The most points added to the index was by TRG which contributed 44 points followed by MEBL with 23 points, PSO with 12 points, INIL with 10 points and SEARL with 8 points.

All Share Volume decreased by 156.49 Million to 889.94 Million Shares. Market Cap increased by Rs.16.17 Billion.

Total companies traded were 428 compared to 428 from the previous session. Of the scrips traded 229 closed up, 172 closed down while 27 remained unchanged.

Total trades increased by 3,765 to 229,153.

Value Traded increased by 3.88 Billion to Rs.31.66 Billion

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