Closing Bell: Fear the reaper!

March 6, 2020 (MLN): The Benchmark Index reversed its gains from yesterday in line with a fierce global sell-off as investors remain concerned that the coronavirus, which is spreading rather than being contained, might continue the global supply chain disruptions.

The KSE-100 index lost over 1162 points and closed the last day of the week at 38,219 level, i.e.2.95% lower than yesterday’s close.

The Index remained negative throughout the session touching an intraday low of 38,124.69.

Of the 94 traded companies in the KSE100 Index, 15 closed up 76 closed down, while 3 remained unchanged. Total volume traded for the index was 198.57 million shares.

Sector-wise, the index was let down by Commercial Banks with 362 points, Oil & Gas Exploration Companies with 243 points, Fertilizer with 155 points, Power Generation & Distribution with 118 points and Oil & Gas Marketing Companies with 78 points.

The most points taken off the index was by OGDC which stripped the index of 114 points followed by PPL with 105 points, ENGRO with 98 points, HUBC with 98 points and HBL with 83 points.

Sectors propping up the index were Miscellaneous with 25 points, Food & Personal Care Products with 6 points and Cable & Electrical Goods with 1 point.

The most points added to the index was by MARI which contributed 30 points followed by PSEL with 25 points, NESTLE with 10 points, COLG with 8 points and FATIMA with 6 points.

All Share Volume decreased by 96.27 Million to 244.45 Million Shares. Market Cap decreased by Rs.185.97 Billion.

Total companies traded were 355 compared to 370 from the previous session. Of the scrips traded 67 closed up, 265 closed down while 23 remained unchanged.

Total trades decreased by 11,730 to 91,544.

Value Traded decreased by 2.01 Billion to Rs.11.33 Billion

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