Closing Bell: Bulls and Bears lock their heads

February 20, 2020 (MLN): Following the wicked performance of stocks on last day, the KSE-100 index, a gauge of large mainland listed stocks, resumed its decline on Thursday, losing 97 points to settle at 40,481 level due to lacklustre activity in the bourse.

Some deterioration in the current account deficit for the month of January was the main catalyst to turn the market bearish. 

The Index traded in a range of 250.25 points or 0.62 per cent of the previous close, showing an intraday high of 40,698.10 and a low of 40,447.85.

Of the 90 traded companies in the KSE100 Index, 35 closed up 53 closed down, while 2 remained unchanged. Total volume traded for the index was 83.55 million shares.

Sector-wise, the index was let down by Oil & Gas Exploration Companies with 40 points, Oil & Gas Marketing Companies with 26 points, Cement with 25 points, Fertilizer with 19 points and Automobile Assembler with 9 points.

The most points taken off the index was by HBL which stripped the index of 45 points followed by OGDC with 17 points, MCB with 15 points, PPL with 13 points and ENGRO with 12 points.

Sectors propping up the index were Chemical with 17 points, Paper & Board with 12 points, Insurance with 9 points, Inv. Banks / Inv. Cos. / Securities Cos. with 9 points and Automobile Parts & Accessories with 7 points.

The most points added to the index was by UBL which contributed 34 points followed by COLG with 12 points, BAHL with 12 points, PKGS with 12 points and IGIHL with 10 points.

All Share Volume decreased by 30.88 Million to 112.08 Million Shares. Market Cap decreased by Rs.12.37 Billion.

Total companies traded were 330 compared to 341 from the previous session. Of the scrips traded 129 closed up, 183 closed down while 18 remained unchanged.

Total trades decreased by 6,500 to 54,447.

Value Traded decreased by 1.79 Billion to Rs.4.72 Billion

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