Closing Bell: Golden Mean

August 12, 2020 (MLN): The KSE-100 index lost around 86 points on Wednesday and closed the session at 40,473-mark.

The market opened on a highly remarkable noted as it gained approximately 559 points during the first half of the session, resulting in a new recent high of 41,119 points. However, profit-booking witnessed in the latter half resulted in the benchmark index closing even lower than the opening level.  

According to Arif Habib Limited, the Fertilizer sector felt the heat of the Supreme Court’s decision on GIDC, which is scheduled to be announced tomorrow.

Another notable highlight in today’s session was HASCOL’s announcement wherein it was informed that Oil and Gas Regulatory Authority (OGRA) had granted permanent marketing license to the company. This resulted in the active trading of the company’s stock, making it almost touch the upper circuit.

The Index traded in a range of 730.88 points or 1.80 percent of previous close, showing an intraday high of 41,119.25 and a low of 40,388.37.

Of the 95 traded companies in the KSE100 Index 25 closed up 68 closed down, while 2 remained unchanged. Total volume traded for the index was 396.23 million shares.

Sector wise, the index was let down by Cement with 58 points, Oil & Gas Marketing Companies with 34 points, Oil & Gas Exploration Companies with 24 points, Pharmaceuticals with 19 points and Inv. Banks / Inv. Cos. / Securities Cos. with 18 points.

The most points taken off the index was by PPL which stripped the index of 17 points followed by LUCK with 17 points, MCB with 16 points, DAWH with 15 points and PSO with 14 points.

Sectors propping up the index were Power Generation & Distribution with 47 points, Fertilizer with 42 points, Commercial Banks with 24 points, Chemical with 21 points and Technology & Communication with 16 points.

The most points added to the index was by FFC which contributed 62 points followed by HUBC with 44 points, NBP with 23 points, UBL with 22 points and TRG with 14 points.

All Share Volume decreased by 8.87 Million to 591.17 Million Shares. Market Cap decreased by Rs.33.81 Billion.

Total companies traded were 405 compared to 416 from the previous session. Of the scrips traded 99 closed up, 286 closed down while 20 remained unchanged.

Total trades decreased by 3,593 to 183,883.

Value Traded decreased by 2.42 Billion to Rs.22.46 Billion

Copyright Mettis Link News