Closing Bell: A surprising turn of events…

July 4, 2019 (MNL): The performance of local equity markets in today’s session was not up to mark, as the benchmark KSE-100 index shrank by 325.93 points and closed at 34,570.62. Surprisingly, even the hype surrounding IMF’s $6 billion deal with Pakistan couldn’t save the market from crashing by such a margin.  

Sector wise, the index was let down by Cement with 73 points, Oil & Gas Exploration Companies with 63 points, Oil & Gas Marketing Companies with 50 points, Fertilizer with 34 points and Pharmaceuticals with 30 points.

The most points taken off the index was by OGDC which stripped the index of 33 points followed by LUCK with 33 points, PPL with 24 points, PSO with 20 points and SNGP with 19 points.

Sectors propping up the index were Power Generation & Distribution with 16 points, Insurance with 4 points, Automobile Parts & Accessories with 2 points, Modarabas with 2 points and Sugar & Allied Industries with 1 points.

The most points added to the index was by HUBC which contributed 22 points followed by HBL with 9 points, ENGRO with 5 points, IGIHL with 4 points and INDU with 4 points.

The Index traded in a range of 801.98 points or 2.30 percent of previous close, showing an intraday high of 35,269.12 and a low of 34,467.14.

Of the 89 traded companies in the KSE100 Index 20 closed up 67 closed down, while 2 remained unchanged. Total volume traded for the index was 88.95 million shares.

All Share Volume decreased by 18.57 Million to 111.86 Million Shares. Market Cap decreased by Rs.55.10 Billion.

Total companies traded were 318 compared to 333 from the previous session. Of the scrips traded 61 closed up, 241 closed down while 16 remained unchanged.

Total trades decreased by 3,673 to 47,583.

Value Traded decreased by 0.44 Billion to Rs.4.38 Billion

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