Closing Bell: Equity market witnesses relief rally ahead of Monetary Policy announcement

Jul 16, 2019 (MLN): The KSE-100 index gained 13 points in today’s session and closed at 32,972 mark. It remained range bound and lost around 355 during the first half of the session before closing in green.

According to closing note by ABA Ali Habib Securities, bourse witnessed higher volumes in anticipation of monetary policy committee’s meeting scheduled for today.

After market hours, the SBP raised its benchmark interest rate for the next two months, thus bringing it up by 100 basis points (bps) to 13.25%.

The Index traded in a range of 489.15 points or 1.48 percent of previous close, showing an intraday high of 33,093.79 and a low of 32,604.64.

Of the 87 traded companies in the KSE100 Index 39 closed up 46 closed down, while 2 remained unchanged. Total volume traded for the index was 119.50 million shares.

Sectors propping up the index were Commercial Banks with 46 points, Cement with 26 points, Fertilizer with 15 points, Food & Personal Care Products with 5 points and Power Generation & Distribution with 4 points.

The most points added to the index was by UBL which contributed 24 points followed by LUCK with 24 points, HBL with 23 points, ENGRO with 17 points and MCB with 15 points.

Sector wise, the index was let down by Oil & Gas Exploration Companies with 57 points, Textile Composite with 17 points, Pharmaceuticals with 15 points, Insurance with 6 points and Engineering with 3 points.

The most points taken off the index was by POL which stripped the index of 29 points followed by PPL with 21 points, BAHL with 11 points, NML with 10 points and ABOT with 9 points.

All Share Volume increased by 69.53 Million to 138.73 Million Shares. Market Cap decreased by Rs.8.87 Billion.

Total companies traded were 316 compared to 321 from the previous session. Of the scrips traded 148 closed up, 149 closed down while 19 remained unchanged.

Total trades increased by 25,590 to 49,953.

Value Traded increased by 2.17 Billion to Rs.4.53 Billion

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