Closing Bell: Don’t fear the Reaper

March 5, 2020 (MLN): Contrary to the yesterday’s close, the domestic stock market closed on a greener note today despite the fact that coronavirus is still as much a threat today as it was yesterday.

The benchmark KSE-100 Index remained positive throughout the session, led by the recovery in global markets and yesterday’s PIB auction results which further strengthened market expectation of monetary easing in March 2020 policy as the cut off yields for 3, 5 and 10Yr bonds decreased by 46bps, 41bps and 15bps respectively, a report by Ismail Iqbal Securities said.  

The Index gained 475 points today, touching an intraday high of 39,742.52 and closed at 39,382 points level.

Of the 97 traded companies in the KSE100 Index 70 closed up 26 closed down, while 1 remained unchanged. Total volume traded for the index was 241.81 million shares.

Sectors propping up the index were Cement with 177 points, Fertilizer with 117 points, Oil & Gas Exploration Companies with 81 points, Power Generation & Distribution with 70 points and Oil & Gas Marketing Companies with 41 points.

The most points added to the index was by LUCK which contributed 89 points followed by ENGRO with 75 points, HUBC with 55 points, PPL with 44 points and FFC with 38 points.

Sector wise, the index was let down by Commercial Banks with 152 points, Miscellaneous with 33 points, Tobacco with 6 points, Sugar & Allied Industries with 2 points and Close - End Mutual Fund with 1 points.

The most points taken off the index was by HBL which stripped the index of 82 points followed by BAHL with 43 points, UBL with 35 points, PSEL with 31 points and BAFL with 29 points.

All Share Volume increased by 153.74 Million to 340.72 Million Shares. Market Cap increased by Rs.83.15 Billion.

Total companies traded were 370 compared to 347 from the previous session. Of the scrips traded 253 closed up, 102 closed down while 15 remained unchanged.

Total trades increased by 31,148 to 103,274.

Value Traded increased by 5.96 Billion to Rs.13.34 Billion

Copyright Mettis Link News