Closing Bell: Bears on a run again

October 12, 2020 (MLN): The benchmark KSE-100 Index lost around 588 points on the first trading session of the week to settle at 40,209 points, i.e. down by 1.44% compared to the Friday’s close.

The bearish spell was backed by Asian Pacific Group (APG) report which stated that Pakistan’s progress largely remained unchanged, while APG kept Pakistan on enhanced follow-up list.

This dented investors’ sentiments as investors had high hopes that Pakistan would come out of the grey list, a closing note by Aba Ali Habib Securities stated.

This selling pressure was further aggravated by the rise in weekly SPI  and Supreme Court notice to PM, especially during the last hours of trading, another report by Ismail Iqbal Securities cited.

Furthermore,  Covid-19 cases are in rising trend posing potential threat of second wave, this also resulted in over-selling.

The Index traded in a range of 902.97 points or 2.21 percent of previous close, showing an intraday high of 41,052.03 and a low of 40,149.06.

Of the 95 traded companies in the KSE100 Index 12 closed up 80 closed down, while 3 remained unchanged. Total volume traded for the index was 217.24 million shares.

Sector wise, the index was let down by Oil & Gas Exploration Companies with 98 points, Cement with 85 points, Commercial Banks with 72 points, Oil & Gas Marketing Companies with 50 points and Power Generation & Distribution with 48 points.

The most points taken off the index was by OGDC which stripped the index of 45 points followed by HBL with 38 points, HUBC with 38 points, TRG with 35 points and PPL with 32 points.

Sectors propping up the index were

The most points added to the index was by ANL which contributed 5 points followed by BAHL with 4 points, FCEPL with 4 points, MTL with 4 points and AGP with 4 points.

All Share Volume increased by 18.83 Million to 377.65 Million Shares. Market Cap decreased by Rs.95.60 Billion.

Total companies traded were 406 compared to 409 from the previous session. Of the scrips traded 74 closed up, 314 closed down while 18 remained unchanged.

Total trades increased by 12,645 to 132,001.

Value Traded increased by 1.01 Billion to Rs.12.94 Billion

CompanyVolume

Top Ten by Volume

Power Cement50,577,500
Hascol Petroleum41,844,833
TRG Pakistan23,441,500
Unity Foods19,682,500
Jahangir Siddiqui & Co. Ltd.19,243,000
Pakistan International Bulk Terminal18,243,500
K-Electric13,187,500
Pakistan Refinery12,290,000
Maple Leaf Cement Factory10,264,021
Azgard Nine9,823,500

 

SectorVolume

Top Sector by Volume

Cement82,791,003
Oil & Gas Marketing Companies48,413,975
Technology & Communication31,867,100
Inv. Banks / Inv. Cos. / Securities Cos.25,176,400
Power Generation & Distribution20,782,466
Refinery20,141,000
Vanaspati & Allied Industries19,684,200
Transport18,690,400
Commercial Banks18,258,836
Food & Personal Care Products15,096,470

 

 

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Posted on: 2020-10-12T18:18:00+05:00

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