March 9, 2020 (MLN): The KSE-100 index witnessed a massive bloodbath on Monday, as it plunged by nearly 1,160 points to close the session at 37,058-mark.
In the initial hours of the session, the benchmark index fell by as much as 2,106 points or 5.51 percent, with the trading ultimately getting suspended for 45 minutes. However, the index was quickly recovered as soon as the trading resumed, as it gained almost 900 points to arrive at the above-mentioned level.
This pattern was observed in stock markets across the globe, thanks to the oil prices which plunged by more than 30 percent on Monday after top exporter Saudi Arabia made deep price cuts following a failure by OPEC and its allies to strike a deal to support energy markets.
Besides the cut in oil prices, equity markets also collapsed due to the rapidly spreading coronavirus which fanned fears over the global economy.
On the forex front, the PKR depreciated by 2.3 rupees against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 156.58 per USD, against last session's closing of PKR 154.24 per USD. This is perhaps the lowest trading level for the local currency since November 2019.
The Index remained negative throughout the session touching an intraday low of 35,914.03
Of the 96 traded companies in the KSE100 Index 33 closed up 63 closed down, while 0 remained unchanged. Total volume traded for the index was 251.66 million shares.
Sector wise, the index was let down by Commercial Banks with 560 points, Oil & Gas Exploration Companies with 353 points, Fertilizer with 155 points, Oil & Gas Marketing Companies with 104 points and Power Generation & Distribution with 98 points.
The most points taken off the index was by HBL which stripped the index of 168 points followed by UBL with 120 points, OGDC with 114 points, PPL with 114 points and ENGRO with 94 points.
Sectors propping up the index were Cement with 206 points, Engineering with 20 points, Cable & Electrical Goods with 10 points, Automobile Assembler with 10 points and Automobile Parts & Accessories with 9 points.
The most points added to the index was by LUCK which contributed 104 points followed by DGKC with 27 points, MLCF with 21 points, FCCL with 20 points and KTML with 13 points.
All Share Volume increased by 63.51 Million to 307.96 Million Shares. Market Cap decreased by Rs.184.07 Billion.
Total companies traded were 360 compared to 355 from the previous session. Of the scrips traded 125 closed up, 218 closed down while 17 remained unchanged.
Total trades decreased by 6,777 to 84,767.
Value Traded increased by 0.15 Billion to Rs.11.48 Billion
| Company | Volume |
|---|---|
| Fauji Cement Company | 30,659,500 |
| The Bank of Punjab | 22,968,000 |
| Maple Leaf Cement Factory | 22,521,500 |
| K-Electric | 20,855,500 |
| TRG Pakistan | 15,302,000 |
| Hascol Petroleum | 13,664,000 |
| Unity Foods | 13,411,500 |
| Pakistan International Bulk Terminal | 10,560,000 |
| Pioneer Cement | 9,434,500 |
| D.G. Khan Cement Company | 9,421,000 |
| Sector | Volume |
|---|---|
| Cement | 89,785,300 |
| Commercial Banks | 42,635,500 |
| Power Generation & Distribution | 27,837,000 |
| Technology & Communication | 24,135,400 |
| Oil & Gas Marketing Companies | 18,581,600 |
| Engineering | 15,160,400 |
| Vanaspati & Allied Industries | 13,413,200 |
| Chemical | 13,289,540 |
| Fertilizer | 12,520,600 |
| Transport | 11,990,000 |
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