Closing Bell: Flatline

September 14, 2020 (MLN): After showing a directionless session throughout the day, the benchmark KSE-100 index closed flat with marginal gain of 0.64 points to settle at 42,531 level.

The choppy behavior of the market was largely induced by the upcoming Asia-Pacific Group (APG) meeting which is to be held on 15 and 16 September. In that meeting Pakistan’s measures taken against money laundering will be reviewed and forwarded to FATF, a closing note by Aba Ali Habib Securities highlighted.

During the day SBP published remittances data, wherein it surged 24%YoY to $2.095 billion in Aug’20 which also drove investors’ sentiments accordingly, it added.

At these levels, investors are cautious to take new positions as market currently stands at pre-Covid-19 levels.

Going forward, the upcoming FATF meeting and monetary policy would drive investors’ trading strategy, the report said.

Besides, today’s market performance was also affected by the announcements made by the companies throughout the session some of which are; Kohinoor Textile Mills (KTML) reported net losses of Rs 2.595 billion in FY20 against the net profits of Rs 4.376 billion in FY19, Feroze1888 Mills Limited declared profit of Rs. 2.94 billion (EPS: 7.8) during the year ended June 30, 2020, Hi-Tech Lubricants Limited earns profit of Rs. 121.6 million (EPS: 1.05) during FY20 and Sui Southern Gas Company (SSGC)’s financial result for the quarter ended September 30, 2018 showed a loss of Rs. 3.24 billion (LPS: 3.67).

The Index traded in a range of 354.78 points or 0.83 percent of previous close, showing an intraday high of 42,722.59 and a low of 42,367.81.

Of the 96 traded companies in the KSE100 Index 38 closed up 56 closed down, while 2 remained unchanged. Total volume traded for the index was 289.62 million shares.

Sectors propping up the index were Commercial Banks with 19 points, Oil & Gas Marketing Companies with 17 points, Power Generation & Distribution with 12 points, Transport with 8 points and Chemical with 5 points.

The most points added to the index was by PSO which contributed 17 points followed by HBL with 17 points, HUBC with 16 points, MCB with 15 points and HASCOL with 12 points.

Sector wise, the index was let down by Oil & Gas Exploration Companies with 14 points, Technology & Communication with 14 points, Automobile Assembler with 9 points, Refinery with 7 points and Cement with 7 points.

The most points taken off the index was by PPL which stripped the index of 23 points followed by DGKC with 16 points, KEL with 9 points, SYS with 8 points and SNGP with 8 points.

All Share Volume decreased by 16.66 Million to 509.52 Million Shares. Market Cap decreased by Rs.8.18 Billion.

Total companies traded were 428 compared to 431 from the previous session. Of the scrips traded 184 closed up, 231 closed down while 13 remained unchanged.

Total trades decreased by 17,635 to 142,908.

Value Traded decreased by 3.05 Billion to Rs.14.54 Billion

CompanyVolume

Top Ten by Volume

Hascol Petroleum67,076,500
Pakistan International Bulk Terminal42,942,500
Fauji Foods29,875,500
Unity Foods25,349,500
The Bank of Punjab20,437,500
Al Shaheer Corporation18,684,000
K-Electric12,971,000
Byco Petroleum Pakistan12,696,500
Jahangir Siddiqui & Co. Ltd.12,452,500
JS Bank12,405,000

 

SectorVolume

Top Sector by Volume

Oil & Gas Marketing Companies80,052,212
Commercial Banks61,312,698
Food & Personal Care Products54,705,960
Transport43,826,700
Cement36,268,934
Technology & Communication35,456,900
Inv. Banks / Inv. Cos. / Securities Cos.27,323,200
Vanaspati & Allied Industries25,359,000
Power Generation & Distribution22,178,788
Refinery20,738,800

 

 

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Posted on: 2020-09-14T17:58:00+05:00

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