Closing Bell: Hair of the dog

November 9, 2020 (MNL): The KSE-100 index ended the trading session on Monday with a 52.43 point or 0.13 percent gain to close at 40,784.04.

Initially, the index’s performance was in line with that of international markets as well as oil prices, which rode high on the back of Biden’s victory. However, the benchmark index struggled to sustain its momentum as rising COVID cases in Pakistan continued to shake investors’ confidence.

The Index traded in a range of 348.62 points or 0.86 percent of previous close, showing an intraday high of 40,945.68 and a low of 40,597.06.

Of the 94 traded companies in the KSE100 Index 35 closed up 56 closed down, while 3 remained unchanged. Total volume traded for the index was 148.29 million shares.

Sectors propping up the index were Commercial Banks with 40 points, Technology & Communication with 40 points, Pharmaceuticals with 26 points, Chemical with 18 points and Fertilizer with 15 points.

The most points added to the index was by HBL which contributed 40 points followed by TRG with 37 points, MCB with 24 points, COLG with 22 points and GLAXO with 13 points.

Sector wise, the index was let down by Cement with 26 points, Oil & Gas Exploration Companies with 16 points, Automobile Assembler with 15 points, Textile Composite with 13 points and Insurance with 10 points.

The most points taken off the index was by LUCK which stripped the index of 21 points followed by NBP with 10 points, PPL with 8 points, OGDC with 8 points and EFUG with 6 points.

All Share Volume decreased by 73.64 Million to 276.80 Million Shares. Market Cap decreased by Rs.7.33 Billion.

Total companies traded were 382 compared to 390 from the previous session. Of the scrips traded 151 closed up, 207 closed down while 24 remained unchanged.

Total trades decreased by 20,341 to 95,555.

Value Traded decreased by 2.00 Billion to Rs.9.52 Billion

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