Closing Bell: Bear Trap

Jul 08, 2019 (MNL): This week doesn’t seem to be any different from the previous week which was critical for the equities at Pakistan Stock Exchange. Lack of buying interest among the market participants continued to weigh on benchmark index.

In addition, investors’ sentiments were further worsened due to expectations regarding sharp uptick in interest rates in the upcoming monetary policy announcement.

Consequently, the KSE-100 index ended first day of the week on a miserable note, with a 447.34 points or 1.31 percent decline to close at 33,742.68 points.

The Index traded in a range of 539.19 points or 1.58 percent of previous close, showing an intraday high of 34,230.62 and a low of 33,691.43.

Of the 86 traded companies in the KSE100 Index 10 closed up 74 closed down, while 2 remained unchanged. Total volume traded for the index was 46.79 million shares.

Sector wise, the index was let down by Commercial Banks with 120 points, Oil & Gas Exploration Companies with 77 points, Oil & Gas Marketing Companies with 56 points, Power Generation & Distribution with 37 points and Cement with 30 points.

The most points taken off the index was by HBL which stripped the index of 53 points followed by PPL with 38 points, OGDC with 26 points, PSO with 25 points and SNGP with 21 points.

The most points added to the index was by FFC which contributed 2 points followed by SYS with 2 points, THALL with 2 points, APL with 2 points and MARI with 1 point.

All Share Volume increased by 8.31 Million to 59.56 Million Shares. Market Cap decreased by Rs.81.75 Billion.

Total companies traded were 306 compared to 296 from the previous session. Of the scrips traded 49 closed up, 237 closed down while 20 remained unchanged.

Total trades decreased by 795 to 23,148.

Value Traded increased by 0.50 Billion to Rs.2.36 Billion

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