February 03, 2020 (MLN): The Benchmark KSE-100 index stumbled today as higher than expected CPI reading for January and rising macroeconomic challenges dented investors' sentiments to the extent that ushered the market to fall another 1,221 points and settled at 40,409 level.
According to the research report by JS Global, today’s correction in the equity market was easily foreseeable, given the negative surprise of CPI and the prevalent issues including problems being faced by the business community (including backtracking on preferential power tariffs for zero-rated industries), political friction among allies and the government, and the revenue shortages despite utmost efforts and apprehensions regarding FBR leadership, particularly ahead of the current IMF review.
The Index remained negative throughout the session touching an intraday low of 40,233.46
Of the 92 traded companies in the KSE100 Index 2 closed up 88 closed down, while 2 remained unchanged. Total volume traded for the index was 150.11 million shares.
Sector wise, the index was let down by Commercial Banks with 320 points, Oil & Gas Exploration Companies with 271 points, Fertilizer with 137 points, Cement with 98 points and Oil & Gas Marketing Companies with 71 points.
The most points taken off the index was by PPL which stripped the index of 111 points followed by HBL with 97 points, ENGRO with 91 points, OGDC with 82 points and MCB with 74 points.
Sectors propping up the index were Real Estate Investment Trust with 1 points.
The most points added to the index was by SYS which contributed 11 points followed by DCR with 1 point.
All Share Volume increased by 9.27 Million to 203.14 Million Shares. Market Cap decreased by Rs.203.10 Billion.
Total companies traded were 351 compared to 346 from the previous session. Of the scrips traded 43 closed up, 296 closed down while 12 remained unchanged.
Total trades increased by 2,910 to 73,934.
Value Traded increased by 1.23 Billion to Rs.9.14 Billion
| Company | Volume |
|---|---|
| The Bank of Punjab | 23,527,000 |
| Hascol Petroleum | 12,737,500 |
| Maple Leaf Cement Factory | 11,931,000 |
| Unity Foods | 7,707,000 |
| Worldcall Telecom | 7,070,500 |
| K-Electric | 7,038,000 |
| Avanceon | 6,242,500 |
| TRG Pakistan | 5,904,500 |
| Pakistan International Bulk Terminal | 4,339,000 |
| D.G. Khan Cement Company | 4,015,000 |
| Sector | Volume |
|---|---|
| Commercial Banks | 40,749,600 |
| Cement | 27,432,400 |
| Technology & Communication | 26,412,100 |
| Oil & Gas Marketing Companies | 22,989,700 |
| Power Generation & Distribution | 12,689,000 |
| Fertilizer | 10,082,200 |
| Vanaspati & Allied Industries | 7,707,000 |
| Chemical | 6,507,070 |
| Oil & Gas Exploration Companies | 6,486,280 |
| Transport | 6,211,000 |
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