March 25, 2020 (MLN): The capital markets continued to suffer on Wednesday as well, with the KSE-100 index plummeting 1,336 point i.e. around 4.68% percent as panic selling was triggered which led to a market halt amid rising coronavirus cases and lockdowns in major cities.
The KSE-100 index settled at 27,228 level, which is the lowest close since March 31, 2014. Further, KSE-30 index closed at 11,833 points at six years low i.e. since March 31, 2014.
In the wake of the coronavirus outbreak and understanding the gravity, the fiscal relief package amounted to Rs 1.1 trillion (2.6% of GDP) mobilized by government to stimulate economic activities of the country, couldn’t suffice to better the investors’ mood. Even policy rate cut by 150 bps to 11% couldn’t juice up the economy which was largely assumed to mitigate the adverse impact of lockdown.
The provincial government announced partial or complete lockdown to contain the spread of virus. However, the lockdown appeared an additional blow to already battling economy- shutting down all essential services for market participants, crippling stock markets.
The Index traded in a range of 1624.80 points or 5.69 percent of previous close, showing an intraday high of 28,798.13 and a low of 27,173.33.
Of the 87 traded companies in the KSE100 Index 18 closed up 68 closed down, while 1 remained unchanged. Total volume traded for the index was 123.67 million shares.
Sector wise, the index was let down by Commercial Banks with 430 points, Cement with 149 points, Oil & Gas Exploration Companies with 132 points, Fertilizer with 108 points and Power Generation & Distribution with 100 points.
The most points taken off the index was by ENGRO which stripped the index of 131 points followed by HBL with 129 points, HUBC with 100 points, UBL with 81 points and MCB with 75 points.
Sectors propping up the index were Food & Personal Care Products with 4 points, Real Estate Investment Trust with 2 points and Vanaspati & Allied Industries with 1 points.
The most points added to the index was by FFC which contributed 40 points followed by POL with 24 points, MUREB with 10 points, KEL with 8 points and LOTCHEM with 4 points.
All Share Volume increased by 46.32 Million to 145.11 Million Shares. Market Cap decreased by Rs.204.01 Billion.
Total companies traded were 298 compared to 285 from the previous session. Of the scrips traded 79 closed up, 205 closed down while 14 remained unchanged.
Total trades increased by 22,637 to 45,180.
Value Traded increased by 3.01 Billion to Rs.5.50 Billion
| Company | Volume |
|---|---|
| Maple Leaf Cement Factory | 14,454,000 |
| K-Electric | 11,624,000 |
| The Bank of Punjab | 7,937,000 |
| Unity Foods | 7,082,500 |
| Fauji Cement Company | 6,924,000 |
| Hascol Petroleum | 5,270,000 |
| The Hub Power Company | 5,091,414 |
| D.G. Khan Cement Company | 4,216,500 |
| Pak Elektron | 4,099,500 |
| Oil & Gas Development Company | 4,022,670 |
| Sector | Volume |
|---|---|
| Cement | 34,288,927 |
| Commercial Banks | 21,840,164 |
| Power Generation & Distribution | 18,120,914 |
| Oil & Gas Marketing Companies | 10,169,436 |
| Oil & Gas Exploration Companies | 7,557,038 |
| Fertilizer | 7,126,445 |
| Vanaspati & Allied Industries | 7,082,500 |
| Technology & Communication | 5,934,800 |
| Chemical | 5,398,700 |
| Transport | 4,367,000 |
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