Closing Bell: D’oh!

December 19, 2019 (MLN): Yesterday’s losses on trading floors extended to today’s session as the benchmark KSE-100 index tumbled by losing another 948 points to settle at 40,655 level. Stocks saw the considerable volatility of 1506.26 points between the last two sessions.

The market went south from the word go due to political tension which continued to rise after the special court released verdict in the former president Pervez Musharraf’s treason case as per Aba Ali Habib Securities. This caused panic among investors and raised a concern about the ongoing spat between the State Institutions.

The Index traded in a range of 1363.98 points or 3.28 percent of previous close, showing an intraday high of 41,794.07 and a low of 40,430.09.

Of the 95 traded companies in the KSE100 Index 3 closed up 90 closed down, while 2 remained unchanged. Total volume traded for the index was 169.92 million shares.

Sector wise, the index was let down by Commercial Banks with 212 points, Oil & Gas Exploration Companies with 172 points, Fertilizer with 94 points, Power Generation & Distribution with 68 points and Cement with 63 points.

The most points taken off the index was by HBL which stripped the index of 71 points followed by OGDC with 60 points, PPL with 57 points, HUBC with 54 points and DAWH with 52 points.

Sectors propping up the index were Miscellaneous with 10 points.

The most points added to the index was by SHFA which contributed 10 points followed by MTL with 2 points.

All Share Volume decreased by 16.05 Million to 260.14 Million Shares. Market Cap decreased by Rs.181.90 Billion.

Total companies traded were 364 compared to 366 from the previous session. Of the scrips traded 33 closed up, 316 closed down while 15 remained unchanged.

Total trades increased by 421 to 96,632.

Value Traded decreased by 0.82 Billion to Rs.11.34 Billion

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