Closing Bell: Bears take charge

August 26, 2019 (MLN): After recording a substantial turnaround in last week, the overbought conditions put brakes on the bullish sentiments as the KSE-100 index ended the first day of the week on a miserable note.

Throughout the day, bearish assault prevailed on Karachi Stock Exchange as it went down 829.42 point or 2.65 percent  which is the highest percent decline since June 10, 2019, to close at 30,520.60.

As Asia Pacific Group on Money Laundering placed Pakistan on its enhanced monitoring list after Islamabad’s performance was found unsatisfactory on three-fourth of the Financial Action Task Force’s (FATF) recommendations, thus, the growing uncertainty on FATF deliberations dumped investors’ confidence.

According to closing note by Arif Habib Limited, Crude oil prices hinted a decline, which triggered the selling in E&P Stock.

The Index remained negative throughout the session touching an intraday low of 30,410.54

Of the 91 traded companies in the KSE100 Index 9 closed up 80 closed down, while 2 remained unchanged. Total volume traded for the index was 92.66 million shares.

Sector wise, the index was let down by Oil & Gas Exploration Companies with 208 points, Commercial Banks with 142 points, Fertilizer with 118 points, Cement with 89 points and Oil & Gas Marketing Companies with 64 points.

The most points taken off the index was by OGDC which stripped the index of 84 points followed by PPL with 70 points, ENGRO with 67 points, LUCK with 48 points and HUBC with 46 points.

Sectors propping up the index were Tobacco with 29 points and Real Estate Investment Trust with 1 points.

The most points added to the index was by PAKT which contributed 29 points followed by BAFL with 3 points, FATIMA with 2 points, GSKCH with 2 points and LOTCHEM with 2 points.

All Share Volume decreased by 108.64 Million to 122.08 Million Shares. Market Cap decreased by Rs.112.89 Billion.

Total companies traded were 335 compared to 358 from the previous session. Of the scrips traded 56 closed up, 269 closed down while 10 remained unchanged.

Total trades decreased by 33,292 to 45,879.

Value Traded decreased by 3.43 Billion to Rs.3.79 Billion

CompanyVolume

Top Ten by Volume

Lotte Chemical Pakistan19,792,000
The Bank of Punjab6,984,500
Maple Leaf Cement Factory6,614,500
K-Electric5,354,000
Pak Elektron4,613,500
Unity Foods4,521,000
Worldcall Telecom4,245,000
TRG Pakistan3,800,000
Fauji Foods3,187,000
Silkbank3,019,000

 

SectorVolume

Top Sector by Volume

Chemical25,174,950
Commercial Banks15,091,900
Cement14,049,900
Technology & Communication9,270,000
Power Generation & Distribution7,137,000
Engineering7,060,700
Oil & Gas Marketing Companies6,862,100
Cable & Electrical Goods4,881,050
Oil & Gas Exploration Companies4,686,220
Vanaspati & Allied Industries4,535,300

 

 

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Posted on: 2019-08-26T17:45:00+05:00

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