Closing bell: Black Hole Sun

August 31, 2020 (MLN): The capital markets remained range-bound as lack of fresh triggers influenced investors to take a cautious trading approach. The KSE-100 Index concluded the trading session on Monday with a nominal gain of 54 points or 0.13% increase to close at 41,110 mark.

However, according to Aba Ali Habib’s closing note, investors' sentiments remained upbeat as they expected inflation to slide in August’20.

The notable highlight in today’s session was the announcement of Nimir Industrial Chemicals Ltd which has decided to set-up a new 20 MW Solid-fuel fired Power Plant at a total investment of Rs 3.50 billion to generate electricity at the most economical cost in view of increased power requirement.

Besides this, Bestway Cement posted a net profit of Rs 49 million in FY20 (EPS: Rs 0.08), depicting a massive 99.51% decline against a net profit of Rs 10.09 billion (EPS: Rs 16.93) in FY19.

During the month, the KSE-100 index wrapped the August’s trading with the cumulative gain of 1,852 points or 4.7% MoM.

The Index traded in a range of 291.10 points or 0.71 percent of the previous close, showing an intraday high of 41,310.28 and a low of 41,019.18.

Of the 97 traded companies in the KSE100 Index, 47 closed up 47 closed down, while 3 remained unchanged. The total volume traded for the index was 212.36 million shares.

Sectors propping up the index were Cement with 52 points, Oil & Gas Exploration Companies with 48 points, Tobacco with 28 points, Power Generation & Distribution with 23 points and Textile Composite with 10 points.

The most points added to the index was by MARI which contributed 29 points followed by PPL with 29 points, PAKT with 28 points, LUCK with 27 points and HUBC with 20 points.

Sector-wise, the index was let down by Technology & Communication with 54 points, Commercial Banks with 42 points, Fertilizer with 20 points, Automobile Assembler with 18 points and Insurance with 12 points.

The most points taken off the index was by TRG which stripped the index of 47 points followed by UBL with 21 points, POL with 19 points, ENGRO with 13 points and HBL with 13 points.

All Share Volume increased by 213.17 Million to 451.74 Million Shares. Market Cap increased by Rs.40.05 Billion.

Total companies traded were 413 compared to 368 from the previous session. Of the scrips traded 198 closed up, 196 closed down while 19 remained unchanged.

Total trades increased by 54,640 to 137,010.

Value Traded increased by 7.89 Billion to Rs.16.29 Billion

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