Wednesday, October 5, 2022
HomeEquityClosing Bell: Bears growl

Closing Bell: Bears growl

Aug 07, 2019 (MLN): Pakistan stock market witnessed another round of selling spree today as Benchmark KSE-100 Index closed at its lowest since March 31, 2015.

Escalating tensions between Pakistan and India over Kashmir issue and lack of positive triggers pushed the index to a four-year low after shedding 723 points or 2.33 percent decline to close at 30,277 level.

In addition to this, redemption at mutual funds kept the flow of selling pressure across the board. Apparently better Financial results of MCB & UBL couldn’t keep stock prices of both the Banks in place and just prior to result announcement UBL touched the lower circuit, revealed in the closing note by Arif Habib Limited.

The Index remained negative throughout the session touching an intraday low of 30,229.39

Of the 91 traded companies in the KSE100 Index 11 closed up 77 closed down, while 3 remained unchanged. Total volume traded for the index was 53.55 million shares.

Sector wise, the index was let down by Commercial Banks with 200 points, Oil & Gas Exploration Companies with 176 points, Fertilizer with 98 points, Power Generation & Distribution with 68 points and Oil & Gas Marketing Companies with 50 points.

The most points taken off the index was by OGDC which stripped the index of 70 points followed by UBL with 55 points, HUBC with 51 points, PPL with 51 points and ENGRO with 45 points.

Sectors propping up the index were Inv. Banks / Inv. Cos. / Securities Cos. with 7 points, Miscellaneous with 5 points, Leather & Tanneries with 2 points and Real Estate Investment Trust with 1 points.

The most points added to the index was by DAWH which contributed 9 points followed by SHFA with 5 points, KTML with 3 points, FFBL with 3 points and SRVI with 2 points.

All Share Volume increased by 10.97 Million to 65.29 Million Shares. Market Cap decreased by Rs.119.04 Billion.

Total companies traded were 326 compared to 320 from the previous session. Of the scrips traded 58 closed up, 249 closed down while 19 remained unchanged.

Total trades increased by 7,364 to 33,138.

Value Traded increased by 0.08 Billion to Rs.2.75 Billion

Company Volume

Top Ten by Volume

K-Electric 4,598,000
Maple Leaf Cement Factory 4,396,500
Lotte Chemical Pakistan 2,857,000
TRG Pakistan 2,763,500
Cherat Cement Company 2,572,500
Hascol Petroleum 2,567,500
Unity Foods 2,494,000
Fauji Cement Company 2,358,500
Oil & Gas Development Company 1,960,700
United Bank 1,918,500

 

Sector Volume

Top Sector by Volume

Cement 11,937,500
Commercial Banks 8,464,300
Power Generation & Distribution 7,319,500
Engineering 5,566,500
Technology & Communication 4,688,500
Oil & Gas Marketing Companies 4,664,900
Oil & Gas Exploration Companies 4,263,100
Chemical 3,765,900
Vanaspati & Allied Industries 2,494,000
Fertilizer 2,174,200

 

 

Copyright Mettis Link News

 

Posted on: 2019-08-07T17:41:00+05:00

29358

RELATED ARTICLES
- Advertisment -

Most Popular